California-based SmartStop Self Storage REIT
California-based SmartStop Self Storage REIT
California-based SmartStop Self Storage REIT sets terms for $864 million IPO
SmartStop Self Storage REIT, a self storage REIT with 208 owned and managed properties across the US and Canada, announced terms for its IPO on Monday.
The Ladera Ranch, CA-based company plans to raise $864 million by offering 27 million shares at a price range of $28 to $36.
The company owns and operates self storage facilities in the US and Canada, primarily in MSAs across 22 states and three provinces in Canada. Its portfolio consists of 208 owned or managed properties, comprising approximately 148,275 units and 16.7 million net rentable square feet. According to the Inside Self Storage Top-Operators List for 2024, SmartStop Self Storage REIT is the tenth largest owner and operator of self storage properties in the US.
SmartStop Self Storage REIT was founded in 2013 and booked $237 million in revenue for the 12 months ended December 31, 2024. It plans to list on the NYSE under the symbol SMA. J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, Truist Securities, Baird, Stifel, National Bank of Canada, Raymond James, and Scotia Capital are the joint bookrunners on the deal. It is expected to price during the week of March 31, 2025.
SmartStop Self Storage REIT, a self storage REIT with 208 owned and managed properties across the US and Canada, announced terms for its IPO on Monday.
The Ladera Ranch, CA-based company plans to raise $864 million by offering 27 million shares at a price range of $28 to $36.
The company owns and operates self storage facilities in the US and Canada, primarily in MSAs across 22 states and three provinces in Canada. Its portfolio consists of 208 owned or managed properties, comprising approximately 148,275 units and 16.7 million net rentable square feet. According to the Inside Self Storage Top-Operators List for 2024, SmartStop Self Storage REIT is the tenth largest owner and operator of self storage properties in the US.
SmartStop Self Storage REIT was founded in 2013 and booked $237 million in revenue for the 12 months ended December 31, 2024. It plans to list on the NYSE under the symbol SMA. J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, Truist Securities, Baird, Stifel, National Bank of Canada, Raymond James, and Scotia Capital are the joint bookrunners on the deal. It is expected to price during the week of March 31, 2025.
Re: California-based SmartStop Self Storage REIT
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