Strategic Storage Trust VI Reports Higher Q3 Revenue, Lower Expenses and Expanded Same-Store Rent
By Staff
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), reported third-quarter and year-to-date results for the period ended Sept. 30, 2025.
Total revenue for the third quarter was approximately $7.9 million, an increase of 8.7% compared to the same period in 2024. Same-store revenues rose 3.8%, and same-store net operating income, or NOI, increased 9.8% year-over-year, reflecting improved rent per occupied square foot and reduced operating expenses. Same-store annualized rent per occupied square foot grew 3.5% to $17.62, up from $17.03 for the three months ended Sept. 30, 2024. Same-store operating expenses decreased by approximately $70,000, or 4.9%, for the third quarter, as compared to the third quarter of 2024.
“We are encouraged by our third-quarter results, which reflect continued operational strength and disciplined execution of our strategic initiatives,” commented H. Michael Schwartz, president and CEO of Strategic Storage Trust VI, Inc. “We remain focused on maintaining strong fundamentals, executing on our strategic objectives, and delivering long-term value to our stockholders.”
Average same-store physical occupancy edged down slightly to 91.5%, a marginal decline of 0.1% as compared to the same time last year.
Additionally, SST VI reported a net loss attributable to common stockholders of approximately $11.3 million for Q3 2025, an increase of 3.6% from the same quarter in 2024. The loss was affected by interest expenses, depreciation, foreign currency adjustments, and other non-operating items. Net loss per common share, both basic and diluted, was $0.42 across all share classes.
Total operating expenses for the quarter were approximately $8.9 million, down from the prior year’s approximately $9.6 million.
For the nine months ended Sept. 30, 2025, SST VI reported total revenues of more than $22.9 million, up approximately 9.8% year-over-year. Same-store revenues increased 5.2%, same-store NOI was up 10.9%, and net loss attributable to common stockholders was reported at $27.6 million, an improvement of nearly 19.4% from the same period in 2024.
Same-store annualized rent per occupied square foot increased by approximately 3.8% to $17.34 for the nine months ended Sept. 30, 2025 from $16.71 for the nine months ended Sept. 30, 2024.
SST VI also reported that its board declared a daily distribution of approximately $0.001698 per share for the period Oct. 1 through Dec. 31, 2025, payable to all classes of common stock, with Classes T, Y, W, and Z adjusted for applicable servicing fees.
The trust also announced that an affiliate of SmartStop agreed to purchase up to 1.4 million Series D preferred units for up to $35 million. The units were priced at $25 per share with a 1% investment fee. The affiliate purchased 1 million units for $25 million in September, and an additional 120,000 units were issued in October for $3 million. The trust reported that the proceeds were used to reduce debt, fund development, and support general corporate purposes.
As previously reported by AltsWire, SST VI also stated that it had launched a $75 million Series E stock offering for accredited investors, expandable up to $100 million.
Overall, as of Nov. 25, 2025, SST VI’s portfolio included 13 operating U.S. properties, 11 Canadian operating properties, joint venture interests in four operational properties and one development property across Ontario and Québec, and one wholly owned development property in Ontario.
SST VI is an affiliate of SmartStop Self Storage REIT Inc., a self-managed real estate investment trust. As of Nov. 25, 2025, 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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