SmartStop Self Storage REIT, Inc 8-K, filed Jun 16, 2020
SmartStop Self Storage REIT, Inc. (SMA)
About this 8-K
SmartStop Self Storage REIT, Inc filed this 8-K on June 16, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 16, 2020
SmartStop Self Storage REIT, Inc.
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation) |
000-55617 (Commission File Number) |
46-1722812 (IRS Employer Identification No.) |
10 Terrace Road, Ladera Ranch, California 92694
(Address of principal executive offices, including zip code)
(877) 327-3485
(Registrant’s telephone number, including area code)
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class |
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Trading Symbol(s) |
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Name of Each Exchange on Which Registered |
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None |
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None |
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None |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure
On June 16, 2020, SmartStop Self Storage REIT, Inc. (the “Company”) issued a press release announcing that it recently fully-opened its 12th wholly-owned location in the Greater Toronto Area. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.
Pursuant to the rules and regulations of the Securities and Exchange Commission, the information in this Item 7.01 disclosure, including Exhibit 99.1 and information set forth therein, is deemed to have been furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits.
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SMARTSTOP SELF STORAGE REIT, Inc. |
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Date: June 16, 2020 |
By: |
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/s/ James R. Barry |
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James R. Barry |
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Chief Financial Officer and Treasurer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
SmartStop Self Storage REIT Opens 12th Wholly-Owned SmartStop® Location in the Greater Toronto Area
TORONTO, ONTARIO – June 16, 2020 – SmartStop Self Storage REIT, Inc. (“SmartStop” or FKA Strategic Storage Trust II, Inc.), a self-managed and fully-integrated self-storage company with approximately $1.6 billion of self storage assets under management, has fully-opened its 12th wholly-owned location in the Greater Toronto Area (GTA), the most populous metropolitan area in Canada.
The ground-up, four-story development is located at 69 Torbarrie Road in the North York community. This prime location provides direct visibility from Ontario Highway 400, which links the city of Toronto in the urban south with the central and northern regions of the province. This facility easily serves the communities of Pelmo Park, Humberlea, Downsview, and Humbermede, and is conveniently located near the Yorkdale shopping district. The property offers a mix of exterior drive up and interior climate-controlled units across its approximately 840 units and 85,800 square feet.
“With the Torbarrie property coming online, we’ve now officially reached over one million square feet of self storage available to serve the GTA, which represents a major milestone for SmartStop in the financial capital of Canada,” said H. Michael Schwartz, Executive Chairman of SmartStop. “The favorable market dynamics and demographics of the Greater Toronto Area, the largest metropolitan area in Canada and the seventh largest metropolitan area in North America, make this region a significant opportunity for further growth and expansion for SmartStop. Going forward, we will continue to leverage our self storage expertise, economies of scale, and recognizable brand to drive strong leasing activity in the new location.”
Since 2010, SmartStop and its affiliates has aggregated a portfolio of CAD $275 million in the Greater Toronto Area. SmartStop’s Canadian portfolio of owned and managed stores currently includes four in-development locations and 13 operating locations, which total approximately 10,300 units and 1.1 million total rentable square feet.
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 380 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.6 billion of real estate assets under management, including 112 properties in 17 states and Toronto, Canada that are directly owned and managed by SmartStop, as well as a growing portfolio of 30 properties in 10 states where SmartStop serves as the property manager for properties owned by its sponsored programs. In total, this comprises a managed portfolio of approximately 94,000 units and 10.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Tom Colton or Matt Glover
Gateway Investor Relations
949-574-3860
smartstop@gatewayir.com