Strategic Storage Trust VI (SST VI) has entered into a definitive agreement to acquire Strategic Storage Growth Trust III (SSGT III) in an all-stock merger valued at approximately $1.2 billion in total asset value. Both companies are sponsored by affiliates of SmartStop Self Storage REIT.
The merger was unanimously approved by both boards of directors following unanimous recommendations from each board’s independent special committee. The transaction is expected to close in the fourth quarter of 2026, subject to SSGT III stockholder approval and customary closing conditions. No financing condition applies, and SST VI stockholder approval is not required.
Under the terms of the deal, SSGT III stockholders will receive one share of SST VI Class A common stock for each share of SSGT III common stock held. Upon closing, existing SST VI stockholders will own approximately 59% of the combined company, SSGT III stockholders approximately 38%, and the remaining 3% will be held by other SST VI operating partnership unitholders.
The combined portfolio will consist of 37 wholly owned self-storage facilities representing approximately 29,415 units and 3.2 million net rentable square feet, along with joint venture interests and beneficial interests in Delaware Statutory Trust-sponsored programs. SST VI is acquiring SSGT III’s 12 wholly owned self-storage facilities across four U.S. states and three Canadian provinces, totaling approximately 9,215 units and 1.0 million net rentable square feet. The transaction also includes SSGT III’s 50% equity interest in three joint ventures in British Columbia and Québec, held alongside subsidiaries of SmartCentres Real Estate Investment Trust, and beneficial interests in three DST programs comprising eight self-storage facilities across five states.
The merger agreement includes a 42-day go-shop window during which SSGT III’s special committee may solicit and consider unsolicited alternative acquisition proposals, with customary matching rights reserved for SST VI.
