Strategic Storage Trust VI Announces Series E Preferred Stock Offering
Strategic Storage Trust VI, Inc., or SST VI – a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc. (NYSE:SMA) – announced the launch of a $75 million Series E preferred stock offering for accredited investors which is expandable to $100 million.
Company leadership said the new offering provides investors with an opportunity to participate in a diversified portfolio of income-producing and growth-oriented self-storage assets.
“The launch of Series E preferred stock offering reflects our ongoing commitment to providing retail investors with stable income and access to institutional-quality self-storage assets throughout North America,” said H. Michael Schwartz, president and chief executive officer of SST VI.
The offering carries an 8% annualized cash dividend, paid monthly when authorized and declared, and ranks senior to all common stock, which totaled approximately $260 million as of June 30, 2025. With a current portfolio of more than $500 million, proceeds from the Series E offering are expected to pay down the REIT’s debt and further invest in income-producing and growth-oriented self-storage properties and related self-storage real estate investments.
“The self-storage sector has proven to be a defensive asset class across market cycles. This offering is designed to deliver attractive, risk-adjusted returns while strengthening our capital base and supporting disciplined expansion. We are committed to aligning the interests of our investors with the long-term success of SST VI,” added Schwartz.
Orchard Securities LLC has been tapped to serve as the managing dealer for the company’s new preferred stock offering. It will receive two primary fees based on the total money raised in the offering: sales commissions equal to 6% of the gross proceeds, and managing dealer fees equal to 3.5% of the gross proceeds.
Beyond the upfront fees, the company’s sponsor has agreed to pay Orchard an annual oversight fee equal to 0.15% of the total amount sold, capped at $550,000. If the company completes a major event, such as a sale or listing its common stock on a national exchange, Orchard is guaranteed the full $550,000 fee, regardless of the amount of time that has passed or how much has been sold.
In August 2025, AltsWire reported that SST VI’s board of directors approved the suspension of the company’s share redemption program effective Sept. 6, 2025. The decision was made for all redemptions, except for hardship redemptions including the death and disability of the shareholder, and according to the U.S. Securities and Exchange Commission, ensures the REIT can “maintain operating flexibility.” SST VI said the share redemption program would remain suspended until such time, if any, the board approves restarting it.
The primary investment strategy of SST VI, formed in October 2020, is to invest in income-producing and growth self-storage facilities and related self-storage real estate investments in the United States and Canada. According to information provided by the REIT as of Oct. 6, it has a portfolio of 24 properties across the United States and Canada, joint venture interests in four operational and one development properties in two Canadian provinces (Ontario and Québec), and two wholly owned development property in Ontario and Florida.
As previously reported by AltsWire, the REIT closed the primary portion of its public offering, effective May 30, 2025. When approving the closedown, the board considered factors such as the costs and internal resources associated with maintaining a public registration of its common stock, the size of its portfolio, and prioritizing the company’s focus on continued portfolio stabilization and performance.
SST VI is an affiliate of SmartStop Self Storage REIT Inc., a self-managed real estate investment trust. As of Oct. 6, SmartStop has an owned or managed portfolio of over 460 operating properties in 34 states, the District of Columbia, and Canada, comprising more than 270,000 units and 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties across four provinces in Canada, which total approximately 42,200 units and 4.3 million rentable square feet.
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