SmartStop Self Storage REIT Inc., a publicly registered non-traded real estate investment trust, has filed a registration statement with the Securities and Exchange Commission for a proposed underwritten public offering in conjunction with the listing of its common stock on a national securities exchange.
SmartStop intends to apply to list its common stock on the New York Stock Exchange under the ticker symbol “SMST.”
The registration statement filed with the SEC is not yet effective, and the number of shares to be offered and the price range for the proposed offering have not yet been determined.
Citigroup, Wells Fargo Securities, KeyBanc Capital Markets, and BMO Capital Markets are acting as joint book-running managers of the offering.
In April, SmartStop Self Storage REIT announced plans to merge with Strategic Storage Growth Trust II Inc., an affiliated private REIT, in a $280 million all-stock transaction. Last March, another affiliated non-traded REIT, Strategic Storage Trust IV, merged with SmartStop in an all-stock transaction valued at $370 million.
The REIT had an estimated net asset value per share of $15.08, as of June 30, 2021.
SmartStop is a self-managed REIT with an owned and managed portfolio of 165 properties in 20 states and Ontario, Canada, comprising approximately 112,000 units and 12.8 million rentable square feet.