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Strategic Storage Trust VI Inc. Acquires 930-Unit Canadian Storage Facility

Strategic Storage Trust VI Inc., a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., acquired a 132,000-square-foot self-storage facility in Ontario, Canada with 930 interior climate-controlled units and 320 RV and parking spaces.

The property is located at 111 Savage Drive in Cambridge and was converted to self-storage from 2019 through 2022 and, according to Strategic Storage, is the largest self-storage facility within the trade area.

“This property is well-situated to provide the growing communities of Cambridge with a modern, spacious self-storage facility while also driving the potential for stockholder value,” said H. Michael Schwartz, chief executive officer and president of Strategic Storage. “We are pleased to add this top-quality property to our SST VI portfolio and expand SST VI’s footprint in Canada.”

Strategic Storage Trust VI launched as a private REIT in the first quarter of 2021 and raised approximately $100.7 million. The company launched a $1 billion public offering in March 2022, which has raised approximately $13.4 million as of June 30, 2022.

As of Dec. 30, 2022, Strategic Storage Trust VI Inc. oversees a portfolio of 13 operating properties in the United States comprising of approximately 8,660 units and 1 million rentable square feet, as well as joint venture interests in two development properties in Toronto, Ontario.

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