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SmartStop Self Storage Recommends Shareholders Reject Tender Offer

SmartStop Self Storage Recommends Shareholders Reject Tender Offer. Alternative investment, real estate investment trust, REIT, self storage, SmartStop, SmartStop Self Storage REIT, storage, tender offer, Comrit
SmartStop Self Storage Recommends Shareholders Reject Tender Offer

The board of SmartStop Self Storage REIT Inc., a self-managed non-traded real estate investment trust, made a filing with the Securities and Exchange Commission announcing an unsolicited tender offer from Comrit Investments 1 LP, a Tel Aviv-based investment fund.

The board recommended stockholders reject and ignore the offer.

Comrit is offering to purchase up to 299,700 shares of Class A common stock at a price of $10.01 per share. On Dec. 16, 2022, the board approved an estimated net asset value per share of $15.21, caluculated as of Sept. 30, 2022.

Shares of SmartStop Self Storage REIT most recently traded on LODAS Markets, previously known as Realto, for $10.60.

SmartStop is a self-managed REIT with an owned or managed portfolio managing 192 operating properties in 22 states and Canada, comprising approximately 135,000 units and 15.2 million rentable square feet.

For more SmartStop news, please visit their directory page.