SmartStop REIT Advisors Launch NAV REIT: Strategic Storage Trust X
SmartStop REIT Advisors Inc., the sponsor of SmartStop Self Storage REIT, Inc. and other storage-focused non-traded real estate investment trusts, announced the launch of Strategic Storage Trust X, Inc. Unlike its other non-traded REITs, Strategic Storage Trust X is structured as a perpetual net asset value REIT and has reportedly filed a private placement offering, the details of which are not yet available.
With the launch of Strategic Storage Trust X, SmartStop REIT Advisors said it is continuing its commitment to acquiring institutional-quality self-storage assets in high-growth markets. Self-storage continues to demonstrate resilience and strong demand, and the company believes this latest vehicle will allow them to further capitalize on attractive opportunities across North America.
SmartStop REIT Advisors is also the indirect subsidiary of SmartStop Self Storage REIT, which has been evaluating alternatives for stockholder liquidity since last fall, including publicly listing on a national securities exchange. At the time, it suspended its share redemption program and distribution investment plan but earlier this month, reinstated the latter.
In addition to its launch of an NAV REIT, SmartStop REIT Advisors also announced its entrance into the 1031 exchange market with the introduction by its sponsored program, Strategic Storage Growth Trust III, Inc., of its own Delaware statutory trust platform. This move, according to the sponsor, aligns with its strategic vision to offer diverse, innovative, and tax-efficient real estate investment opportunities within the self-storage sector.
SmartStop REIT Advisors aims to leverage its extensive experience and national presence to drive strong returns for investors while meeting the evolving needs of self-storage customers.
SmartStop REIT Advisors, an indirect subsidiary of SmartStop Self Storage REIT, serves as the sponsor of SSGT III, Strategic Storage Trust VI, Inc., and Strategic Storage Trust X, while its sponsored program, SSGT III, recently launched its own DST platform in the 1031 exchange market. The managed REIT platform and DST platform had a combined portfolio of 37 operating properties, approximately 29,000 units, and approximately 3.2 million net rentable square feet at the end of 2024. Assets under management was approximately $771.2 million at the end of the quarter, according to the company.
