Strategic Storage Trust VI, Inc. completed its all-stock acquisition of Strategic Storage Growth Trust III, Inc. on November 1, 2026, forming a combined nontraded self-storage REIT with more than $1 billion in total assets. The company announced the closing in a November 2 SEC filing and accompanying news release.
The transaction values SSGT III’s real estate portfolio at approximately $500 million. SST VI acquired 12 wholly owned self-storage facilities comprising approximately 9,215 units and 981,465 net rentable square feet. It also acquired 50% interests in three Canadian joint ventures and beneficial interests in three Delaware statutory trust programs that own eight properties. Those DST interests are partial ownership interests, not eight additional wholly owned facilities.
Following the merger, SST VI owns 37 wholly owned operating properties across 10 states and three Canadian provinces, comprising approximately 29,400 units and 3.2 million rentable square feet. The company said the transaction increased its unit count by roughly 45% and expanded its U.S. footprint into California, New Jersey, and Texas.
Eligible SSGT III common shares were exchanged one-for-one for SST VI Class A common shares. Legacy SST VI shareholders now own approximately 59% of the combined company, former SSGT III shareholders own approximately 38%, and other operating-partnership unitholders own approximately 3%. The company said former SSGT III shareholders are expected to receive a distribution rate more than 20% higher following the merger; that expectation is not a guaranteed investment return.
The transaction also converted SSGT III’s Series A convertible preferred stock into SST VI’s newly designated Series G convertible preferred stock. Immediately before the merger became effective, SSGT III’s adviser received $2 million in operating-partnership units under an agreement terminating its advisory relationship. Both REITs were sponsored by an affiliate of SmartStop Self Storage REIT, Inc.
Why We’re Watching
The closing materially changes SST VI’s scale, ownership, and portfolio composition. For advisors reviewing the combined company, the distinction between wholly owned properties, joint ventures, and partial DST interests matters when evaluating asset exposure and comparing pre- and post-merger performance.
