SmartStop REIT Advisors Selects Pacific Oak Capital Markets as Dealer Manager
SmartStop REIT Advisors LLC, an affiliate of non-traded real estate investment trust SmartStop Self Storage REIT Inc., have partnered with Pacific Oak Capital Markets LLC, which will serve as the dealer manager for potential investment offerings SmartStop may sponsor.
SmartStop REIT Advisors LLC, an affiliate of non-traded real estate investment trust SmartStop Self Storage REIT Inc., has selected Pacific Oak Capital Markets LLC to serve as the dealer manager for potential investment offerings the firm may sponsor.
“SmartStop is a best-in-class issuer of compelling alternative investment offerings and we are honored to have been selected to serve as their managing broker-dealer,” said Mick Manning, chief executive officer of Pacific Oak Capital Markets. “Our team of professionals stands ready with decades of financial services expertise and long-standing relationships with some of the nation’s largest broker-dealers and registered investment advisors to achieve our mission of matching capital with opportunity.”
Pacific Oak’s executive leadership and management team first came together more than 15 years ago and built KBS Capital Advisors, raising more than $7 billion of investor capital to-date. In 2018, this team launched Pacific Oak to continue providing alternative investment opportunities, support and insights to financial professionals and their clients.
“Employing our brand-based investment strategy, SmartStop focuses on developing, acquiring and operating self-storage properties,” said H. Michael Schwartz, SmartStop’s executive chairman. “We’ve enjoyed a long history of success in the self-storage marketplace and have delivered enviable results to our investors over the years. We are committed to building on this legacy through our partnership with Pacific Oak Capital Markets and look forward to our shared success.”
Since 2007, SmartStop and its affiliates have completed approximately $6 billion in real estate transactions. The company has completed multiple full-cycle liquidity events, including the all-cash merger of its original REIT, SmartStop Self Storage Inc., with Extra Space Storage in 2015 for $13.75 per share, equal to an annualized return of more than 15 percent to investors.
Additionally, SmartStop coordinated the 2019 all-cash merger of its affiliated Strategic Storage Growth Trust Inc. into Strategic Storage Trust II Inc. for $12.00 per share, equal to a return of approximately 9.3 percent to investors. Strategic Storage Trust II was subsequently renamed SmartStop Self Storage REIT Inc. after a June 2019 self-administration.
Pacific Oak Capital Markets is a wholesaler and managing broker-dealer for alternative investment offerings.
SmartStop Self Storage REIT has approximately $1.7 billion of real estate assets under management. The company launched its initial public offering in January 2014 and raised $566 million in investor equity prior to closing in January 2017.
