Strategic Storage Trust VI Suspends Share Redemption Program
Strategic Storage Trust VI, Inc., a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc. – reported that its board of directors approved the suspension of its 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.”
The company, also known as SST VI, said the share redemption program would remain suspended until such time, if any, the board approves restarting it.
Correlated, the REIT reported that it received redemption requests for $3.3 million in shares in the six months ending June 30 and had fulfilled all of these redemption requests in July 2025.
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 June 30, it has 24 properties across the United States and Canada and reported $539 million in total assets.
Total revenues were approximately $7.67 million for SST VI, a year-over-year increase of 9.6%, i.e., June 2024’s nearly $7 million.
Further, the company has fully utilized its expanded SmartStop Bridge Loan, drawing the final $2 million on July 29, 2025. The recent draw comes after a June 28, 2024, amendment to the original loan agreement, which increased the total borrowing capacity from $15 million to $25 million and extended the maturity date to Dec. 31, 2025. SST VI had previously drawn $8 million of the new capacity on July 29, 2024. With the most recent $2 million draw, the loan is now fully deployed.
The original $15 million unsecured bridge loan was secured on June 15, 2023. The loan’s initial secured overnight financing rate plus 3% was later increased to SOFR plus 4% on Jan. 1, 2024. As of June 30, 2025, the interest rate stood at 8.45%. The company confirmed its compliance with all loan covenants as of June 30, 2025, and said it continues to leverage such financing to support real estate acquisitions.
As of Aug. 6, the REIT had issued approximately 11.6 million Class P shares for gross offering proceeds of approximately $110.6 million, approximately 3.2 million Class A shares for gross offering proceeds of approximately $32.4 million, approximately 5.1 million Class T shares for gross offering proceeds of approximately $51.1 million, approximately 0.7 million Class W shares for gross offering proceeds of approximately $6.7 million, approximately 5.4 million Class Y shares for gross offering proceeds of approximately $52 million and approximately 0.6 million Class Z shares for gross offering proceeds of approximately $5.6 million.
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. (NYSE:SMA), a self-managed real estate investment trust. As of June 2, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 159,000 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet.
For more SmartStop news, please visit their directory page.
