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Strategic Storage Trust VI’s $1 Billion Initial Public Offering Declared Effective by SEC

Strategic Storage Trust VI Inc., a publicly registered non‐traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., reported that its $1.1 billion initial public offering was declared effective.

Strategic Storage Trust VI Inc., a publicly registered non‐traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., reported that its $1.1 billion initial public offering was declared effective by the Securities and Exchange Commission.

Strategic Storage Trust VI invests in self-storage properties and related real estate investments.

The REIT, which previously sold approximately $95 million in shares in a private offering that launched in February 2021, owns six operating self-storage facilities in Arizona, Florida, and Nevada, as well as joint venture interests in two development properties in Toronto, Ontario.

The $1 billion primary offering consists of three share classes: Class A, Class T, and Class W shares. The minimum purchase is generally $5,000.

Class A shares are priced at $10.33 each and include a maximum 6 percent sales commission and 3 percent dealer manager fee.

Class T shares are priced at $10.00 and include a 3 percent sales commission, 3 percent dealer manager fee, and 1 percent stockholder servicing fee.

Class W shares are priced at $9.40 per share and include a 0.50 percent dealer manager servicing fee.

The REIT is also offering up to $95 million in shares through its distribution reinvestment plan at $9.81 per Class A share, $9.50 per Class T share, and $9.40 per Class W share.

Pacific Oak Capital Markets serves as the dealer manager of the offering.

SmartStop is a self-managed REIT with an owned and managed portfolio of 163 properties in 19 states and Ontario, Canada, comprising approximately 111,000 units and 12.6 million rentable square feet.

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