0001585389false00015853892023-09-052023-09-05

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 5, 2023

SmartStop Self Storage REIT, Inc.

(Exact name of registrant as specified in its charter)

 

 

Maryland

(State or other jurisdiction of incorporation)

000-55617

(Commission File Number)

46-1722812

(IRS Employer Identification No.)

10 Terrace Road, Ladera Ranch, California 92694

(Address of principal executive offices, including zip code)

(877) 327-3485

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading Symbol(s)

 

Name of Each Exchange on Which Registered

None

 

None

 

None

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 7.01. Regulation FD Disclosure.

On September 5, 2023, SmartStop Self Storage REIT, Inc. (the “Company”) provided the following metrics for the Company’s 2023 same-store facilities (stabilized and comparable properties that have been included in the consolidated results of operations since January 1, 2022, excluding two other properties):

•
Physical occupancy as of June 30, 2023 and June 30, 2022 was 94.0% and 95.3%, respectively. Physical occupancy as of July 31, 2023 and July 31, 2022 was 93.4% and 95.0%, respectively. Physical occupancy as of August 31, 2023 and August 31, 2022 was 93.0% and 94.2%, respectively.

•
Asking rates per square foot as of June 30, 2023 and June 30, 2022 were $1.61 and $1.69, respectively. Asking rates per square foot as of July 31, 2023 and July 31, 2022 were $1.45 and $1.81, respectively. Asking rates per square foot as of August 31, 2023 and August 31, 2022 were $1.44 and $1.71, respectively.

•
In-place rates per square foot as of June 30, 2023 and June 30, 2022 were $1.63 and $1.52, respectively. In-place rates per square foot as of July 31, 2023 and July 31, 2022 were $1.64 and $1.55, respectively. In-place rates per square foot as of August 31, 2023 and August 31, 2022 were $1.64 and $1.57, respectively.

 

Pursuant to the rules and regulations of the Securities and Exchange Commission, the information in this Item 7.01 disclosure is deemed to have been furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

 

 

 

 

 

 

Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

SMARTSTOP SELF STORAGE REIT, Inc.

Date: September 5, 2023

By:

/s/ James R. Barry

James R. Barry

Chief Financial Officer and Treasurer

 

 

 

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Document and Entity Information
Sep. 05, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Sep. 05, 2023
Entity Registrant Name SmartStop Self Storage REIT, Inc.
Entity Central Index Key 0001585389
Entity Emerging Growth Company false
Securities Act File Number 000-55617
Entity Incorporation, State or Country Code MD
Entity Tax Identification Number 46-1722812
Entity Address, Address Line One 10 Terrace Road
Entity Address, City or Town Ladera Ranch
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92694
City Area Code 877
Local Phone Number 327-3485
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Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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