SmartStop’s Strategic Storage Trust VI Posts 8.8% Revenue Gain in 2025 With Canadian Expansion

Strategic Storage Trust VI Inc., a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc. (NYSE: SMA), reported total revenues of $30.7 million for the fiscal year ended Dec. 31, 2025, an increase of approximately $2.5 million, or 8.8%, from the prior year.

Same-store revenues grew 4.6% and same-store net operating income rose 8.6%, or approximately $0.7 million. The net loss attributable to common stockholders decreased by approximately $10.7 million, a 22.7% improvement year-over-year.

Same-store average physical occupancy dipped 1% to 90.3% at year-end. Annualized rent per occupied square foot increased 3.2% to $17.40 from $16.86 in the prior year.

H. Michael Schwartz, president and chief executive officer of SST VI, attributed the results to disciplined growth and a focus on Canadian assets.

“Over the past year, we successfully brought four of our Canadian joint venture properties online, expanding our footprint in the Greater Toronto area and Quebec,” Schwartz said.

The newly opened Canadian properties are in the early lease-up phase, with an average occupancy of approximately 41% at year-end. Subsequent to year-end, the company completed construction and commenced operations at a wholly owned development property in Ontario.

As of Dec. 31, 2025, the REIT owned 24 operating self-storage properties in seven states – Arizona, Delaware, Florida, Nevada, Oregon, Pennsylvania and Washington – and three Canadian provinces – Alberta, British Columbia and Ontario – as well as two development properties in Florida and Ontario.

In March, SST VI’s board reaffirmed an estimated net asset value of $10.00 per share, calculated based on the portfolio as of Sept. 30, 2025, and applicable to Class P, A, T, W, Y and Z common stock. Also in March, the board declared a gross daily distribution rate of approximately $0.001698 per share on outstanding common stock payable to Class P, A, T, W, Y and Z stockholders of record for the period April 1 through June 30, 2026.

As of April 2, 2026, the portfolio includes 13 operating properties in the United States totaling approximately 9,015 units and 12 operating properties comprising approximately 11,080 units in Canada, alongside joint venture interests in four operational sites and two development properties in Ontario and Québec.

SmartStop, SST VI’s sponsor, manages a portfolio of more than 460 operating properties across 35 states and Canada.

For more SmartStop news, visit its directory page.