SmartStop Expands North American Platform Through ~$140 Million of Strategic Investments Amongst Other Initiatives, Driving Accretive Growth on a Leverage-Neutral Basis; Raises 2026 Same-Store and FFO, as Adjusted Guidance
Key Highlights
- ➤Strategic investments total approximately $140 million across Canada and the United States
- ➤2026 adjusted FFO guidance raised to $1.99-$2.05 per share
- ➤2026 same-store revenue growth guidance raised to 0.75%-1.75%
- ➤2026 same-store NOI growth guidance raised to 1.15%-2.15%
- ➤2027 adjusted FFO expected to gain approximately $0.05-$0.06 per share
Expert Statements
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“Today’s announcement is a perfect reflection of The Deca Initiative”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“We are significantly expanding our footprint in Canada, adding high-quality assets on-balance sheet in core U.S. markets, and growing a new programmatic investment relationship with an exceptionally high-quality sponsor, all while funding this growth on a leverage-neutral basis.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“The addition of 25 Class A self-storage properties increases clustering and operating efficiencies in many of our core markets.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“We expect these transactions and the associated financing to be materially accretive to our 2027 FFO, as adjusted per share on an approximately leverage-neutral basis.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“We believe the Strategic Storage Canada portfolio will see meaningful embedded NOI upside as the properties lease up over the coming years, with an anticipated stabilized yield over 6%.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“Scale within a market is one of the most important drivers of margin in our business,”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“As we addressed in our IPO Road Show, we believe our portfolio has tremendous upside driven by scale, one of the primary drivers of entry into third-party management.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“Our strategic asset management program will expedite this by divesting from markets where we lack density and reinvesting in markets where we already operate at scale.”
H. Michael Schwartz, Founder, Chairman, and Chief Executive Officer of SmartStop
“In doing so, we expect to strengthen our balance sheet while improving the overall quality and efficiency of our portfolio.”
SmartStop Expands North American Platform Through ~$140 Million of Strategic Investments Amongst Other Initiatives, Driving Accretive Growth on a Leverage-Neutral Basis; Raises 2026 Same-Store and FFO, as Adjusted Guidance
* Enters into agreement for investment in Strategic Storage Canada, LP, a joint venture fund (including a 50% GP interest) in 14 owned self-storage properties in Canada for approximately USD $54 million, positioning SmartStop as Canada's third-largest storage operator
Get started
Create a free account to read the full story.