SmartStop Self Storage Prices C$200M Bond Offering To Fund Acquisitions And Pay Down Debt

SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE:SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the pricing of a Canadian Maple Bond offering (priced on September 19, 2025). SmartStop's affiliated operating partnership, SmartStop OP, L.P., will issue CAD $200 million of series B senior unsecured notes due September 24, 2030 (the "Notes"). The Notes bear interest at a rate of approximately 3.888% per annum, payable in cash in equal semi-annual installments, commencing on March 24, 2026. The Notes are rated BBB (Stable) by Morningstar DBRS.

SmartStop intends to use the net proceeds from the offering to repay outstanding indebtedness, fund acquisitions and for general corporate purposes. The closing of the offering is expected to occur on September 24, 2025, subject to the satisfaction of customary closing conditions.