SmartStop Self Storage REIT, Inc. (SMST) to Raise $864 Million in IPO

SmartStop Self Storage REIT, Inc. (SMST) is planning to raise $864 million in an IPO on Wednesday, April 2nd, IPO Scoop reports. The company plans to issue 27,000,000 shares at $28.00-$36.00 per share.

In the last 12 months, SmartStop Self Storage REIT, Inc. generated $237 million in revenue and had a net loss of $18.4 million. The company has a market-cap of $1.6 billion.

Citigroup, Wells Fargo Securities, KeyBanc Capital Markets and BMO Capital Markets acted as the underwriters for the IPO.

SmartStop Self Storage REIT, Inc. provided the following description of their company for its IPO: “SmartStop Self Storage REIT, Inc. is an internally managed real estate investment trust, or REIT, and a premier owner and operator of self storage facilities in the United States and Canada. We are a premier owner and operator of self storage facilities in the United States and Canada. We are internally managed and have built a fully integrated, technology-driven platform that acquires, owns and operates institutional quality properties located primarily within top metropolitan statistical areas, or MSAs, throughout the United States and the Greater Toronto Area, or GTA, in Canada. According to the Inside Self Storage Top-Operators List for 2022, we are the 11th largest owner and operator of self storage properties in the United States based on number of properties, units and rentable square footage. Our portfolio consists of 159 owned properties across 19 states and the GTA, comprising approximately 108,400 units and 12.3 million net rentable square feet. We were formed as a Maryland corporation in January 2013 and have elected to be taxed as a REIT for U.S. federal income tax purposes beginning with our taxable year ended Dec. 31, 2014. Note: Net loss and revenue are for the year that ended Dec. 31, 2024. (Note: SmartStop Self Storage REIT, Inc., filed an S-11/A on March 24, 2025, and disclosed the terms for its IPO: 27.0 million shares at a price range of $28.00 to $36.00 to raise $864.0 million, if priced at the $32.00 mid-point of its range. Background: SmartStop Self Storage REIT, Inc. filed its S-11/A to go public on Dec. 9, 2022, without disclosing terms for its IPO.) “.

SmartStop Self Storage REIT, Inc. was founded in 2013 and has 450 employees. The company is located at 10 Terrace Road Ladera Ranch, California 92694 and can be reached via phone at (877) 327-3485 or on the web at http://www.smartstopselfstorage.com/.