Strategic Storage Trust VI, Inc. Reports Second Quarter 2025 Results
-
Q2 Total revenues increased approximately
9.6% compared to the same period in 2024. -
Q2 Increased Same-Store Revenues by approximately
5.1% for the Quarter. -
Q2 Net loss attributable to common stockholders decreased approximately
46.4% compared to the same period in 2024. -
Q2 Increased Same-Store Net Operating Income ("NOI") by approximately
9.6% for the Quarter. -
YTD Total revenues increased approximately
10.3% compared to the same period in 2024. -
YTD Increased Same-Store Revenues by approximately
5.9% for the year. -
YTD Net loss attributable to common stockholders decreased approximately
30.1% compared to the same period in 2024. -
YTD Increased Same-Store Net Operating Income ("NOI") by approximately
11.5% . -
Decreased Same-Store Average Physical Occupancy by approximately
0.7% .
"Q2 was another strong quarter of performance, underscoring the resilience of our business model and the continued demand for high-quality self-storage solutions," commented H. Michael Schwartz, President and CEO of Strategic Storage Trust VI, Inc. "We achieved second quarter revenue growth of
Key Highlights for the Three Months Ended June 30, 2025:
-
Total revenues were approximately
$7.7 million $0.7 million -
Increased same-store revenues and NOI by
5.1% and9.6% , respectively, for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. -
Decreased same-store average physical occupancy by approximately
0.7% to92.2% as of June 30, 2025 from92.9% as of June 30, 2024. -
Increased same-store annualized rent per occupied square foot by approximately
4.3% to$17.38 $16.67
Key Highlights for the Six Months Ended June 30, 2025:
-
Total revenues were approximately
$15.0 million $1.4 million -
Increased same-store revenues and NOI by
5.9% and11.5% , respectively, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. -
Decreased same-store average physical occupancy by approximately
0.7% to92.2% as of June 30, 2025 from92.9% as of June 30, 2024. -
Increased same-store annualized rent per occupied square foot by approximately
4.0% to$17.20 $16.54
Opening of three joint venture development properties:
On April 16, 2025, SST VI announced the opening of an operating unconsolidated real estate venture located in
On June 2, 2025, SST VI announced the opening of an operating unconsolidated real estate venture location in the
On June 3, 2025, SST VI announced the opening of an operating unconsolidated real estate venture location in
Declared Distributions:
On June 27, 2025, our board of directors declared a daily distribution rate of approximately
Suspension of Share Redemption Program:
On August 6, 2025, our board of directors approved the suspension of our share redemption program for stockholders who purchased Class P shares in the private offering and our share redemption program for stockholders who purchased Class A, Class T, Class W, Class Y and Class Z shares in the public offering (collectively, the “Share Redemption Program”) effective September 6, 2025, except with respect to redemption requests made in connection with the death, commitment to a long-term care facility, qualifying disability or bankruptcy of a stockholder. Accordingly, all pending redemption requests in the third quarter or subsequent thereto that were not made in connection with the death, commitment to a long-term care facility, qualifying disability or bankruptcy of a stockholder will be not be redeemed. The Share Redemption Program shall remain suspended as discussed above until such time, if any, as our board of directors may determine.
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a public non-traded REIT that elected to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self-storage facilities and related self-storage real estate investments in
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE:SMA), is a self-managed REIT with a fully integrated operations team of more than 600 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of August 14, 2025, SmartStop has an owned or managed portfolio of 230 operating properties in 23 states, the
STRATEGIC STORAGE TRUST VI, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS |
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June 30,
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December 31,
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ASSETS |
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Real estate facilities: |
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Land |
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$ |
113,089,669 |
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$ |
109,097,324 |
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Buildings |
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386,244,539 |
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375,539,122 |
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Site improvements |
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14,005,509 |
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13,655,534 |
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513,339,717 |
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498,291,980 |
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Accumulated depreciation |
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(34,668,838 |
) |
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(27,645,170 |
) |
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478,670,879 |
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470,646,810 |
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Construction in process |
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15,192,125 |
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9,144,864 |
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Real estate facilities, net |
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493,863,004 |
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479,791,674 |
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Cash and cash equivalents |
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14,392,668 |
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10,827,415 |
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Restricted cash |
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1,777,999 |
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6,738,149 |
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Investments in unconsolidated real estate ventures |
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21,191,293 |
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18,207,135 |
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Other assets, net |
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8,464,984 |
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13,564,907 |
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Total assets |
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$ |
539,689,948 |
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$ |
529,129,280 |
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LIABILITIES, TEMPORARY EQUITY AND EQUITY |
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Debt, net |
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$ |
288,182,694 |
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$ |
274,056,356 |
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Accounts payable and accrued liabilities |
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14,354,968 |
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13,433,815 |
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Distributions payable |
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4,433,422 |
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4,409,505 |
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Due to affiliates |
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18,899,515 |
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13,877,191 |
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Total liabilities |
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325,870,599 |
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305,776,867 |
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Commitments and contingencies |
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Redeemable common stock |
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10,212,876 |
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10,279,772 |
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Series B Convertible Preferred Stock, |
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148,599,723 |
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148,599,723 |
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Equity: |
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Strategic Storage Trust VI, Inc.: |
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Preferred Stock, |
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— |
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— |
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Class P Common stock, |
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11,439 |
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11,280 |
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Class A Common stock, |
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3,425 |
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3,384 |
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Class T Common stock, |
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5,416 |
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5,374 |
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Class W Common stock, |
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|
715 |
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|
705 |
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Class Y Common stock, |
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5,358 |
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4,050 |
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Class Z Common stock, |
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571 |
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|
346 |
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Additional paid-in capital |
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222,039,298 |
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207,773,199 |
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Distributions |
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(39,658,319 |
) |
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(32,142,866 |
) |
Accumulated deficit |
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(127,679,168 |
) |
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(111,392,263 |
) |
Accumulated other comprehensive loss |
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(4,552,685 |
) |
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(4,432,786 |
) |
Total Strategic Storage Trust VI, Inc. equity |
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50,176,050 |
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59,830,423 |
|
Noncontrolling interests in our Operating Partnership |
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(159,716 |
) |
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225,081 |
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Noncontrolling Series C Subordinated Units in our Operating Partnership |
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4,990,416 |
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4,417,414 |
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Total noncontrolling interest |
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4,830,700 |
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4,642,495 |
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Total equity |
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55,006,750 |
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64,472,918 |
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Total liabilities, temporary equity and equity |
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$ |
539,689,948 |
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$ |
529,129,280 |
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STRATEGIC STORAGE TRUST VI, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |
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Three Months Ended
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Six Months Ended
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2025 |
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2024 |
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2025 |
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2024 |
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Revenues: |
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Self storage rental revenue |
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$ |
7,612,852 |
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$ |
6,946,834 |
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$ |
14,916,493 |
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$ |
13,524,421 |
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Ancillary operating revenue |
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57,788 |
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|
49,554 |
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|
103,505 |
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|
88,878 |
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Total revenues |
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7,670,640 |
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6,996,388 |
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15,019,998 |
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13,613,299 |
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Operating expenses: |
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Property operating expenses |
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2,831,451 |
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2,765,425 |
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5,770,531 |
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|
5,694,139 |
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Property operating expenses – affiliates |
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1,331,452 |
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|
1,287,048 |
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|
2,571,719 |
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2,567,643 |
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General and administrative |
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1,678,129 |
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1,593,060 |
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|
3,381,937 |
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|
3,147,798 |
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Depreciation |
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3,280,079 |
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3,172,390 |
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|
|
6,398,481 |
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|
6,347,622 |
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Intangible amortization expense |
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— |
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|
838,548 |
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— |
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|
1,878,146 |
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Acquisition expense – affiliates |
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|
104,656 |
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|
135,630 |
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|
212,532 |
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|
314,053 |
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Other property acquisition expenses |
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|
43,058 |
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|
49,801 |
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|
57,078 |
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|
103,842 |
|
Total operating expenses |
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|
9,268,825 |
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|
9,841,902 |
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|
18,392,278 |
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|
20,053,243 |
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Operating loss |
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|
(1,598,185 |
) |
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|
(2,845,514 |
) |
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|
(3,372,280 |
) |
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|
(6,439,944 |
) |
Other income (expense): |
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Interest expense |
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|
(4,176,197 |
) |
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|
(4,532,579 |
) |
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|
(8,283,492 |
) |
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|
(9,242,874 |
) |
Interest expense – debt issuance costs |
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|
(180,518 |
) |
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|
(277,667 |
) |
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|
(668,915 |
) |
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|
(553,925 |
) |
Derivative fair value adjustment |
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|
- |
|
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|
147,357 |
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(531,449 |
) |
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|
1,763,673 |
|
Other income (expense) |
|
|
(9,829 |
) |
|
|
157,331 |
|
|
|
69,183 |
|
|
|
345,149 |
|
Equity in loss of unconsolidated real estate ventures |
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|
(385,074 |
) |
|
|
— |
|
|
|
(607,602 |
) |
|
|
— |
|
Foreign currency adjustment |
|
|
3,304,699 |
|
|
|
(1,151,535 |
) |
|
|
3,108,763 |
|
|
|
(3,357,638 |
) |
Net loss |
|
|
(3,045,104 |
) |
|
|
(8,502,607 |
) |
|
|
(10,285,792 |
) |
|
|
(17,485,559 |
) |
Less: Distributions to preferred stockholders |
|
|
(3,122,671 |
) |
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|
(3,085,113 |
) |
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|
(6,211,027 |
) |
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|
(6,251,155 |
) |
Net loss attributable to the noncontrolling interests in our Operating Partnership |
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|
60,396 |
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|
202,777 |
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|
213,131 |
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|
428,150 |
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Net loss attributable to Strategic Storage Trust VI, Inc. common stockholders |
|
$ |
(6,107,379 |
) |
|
$ |
(11,384,943 |
) |
|
$ |
(16,283,688 |
) |
|
$ |
(23,308,564 |
) |
Net loss per Class P share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Net loss per Class A share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Net loss per Class T share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Net loss per Class W share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Net loss per Class Y share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Net loss per Class Z share—basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.63 |
) |
|
$ |
(1.06 |
) |
Weighted average Class P shares outstanding—basic and diluted |
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|
11,409,948 |
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|
11,163,181 |
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|
11,385,103 |
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|
11,150,159 |
|
Weighted average Class A shares outstanding—basic and diluted |
|
|
3,409,389 |
|
|
|
3,369,755 |
|
|
|
3,399,741 |
|
|
|
3,360,831 |
|
Weighted average Class T shares outstanding—basic and diluted |
|
|
5,405,833 |
|
|
|
5,322,378 |
|
|
|
5,396,180 |
|
|
|
5,291,281 |
|
Weighted average Class W shares outstanding—basic and diluted |
|
|
712,450 |
|
|
|
695,344 |
|
|
|
709,961 |
|
|
|
687,983 |
|
Weighted average Class Y shares outstanding—basic and diluted |
|
|
5,068,605 |
|
|
|
1,872,410 |
|
|
|
4,721,402 |
|
|
|
1,406,340 |
|
Weighted average Class Z shares outstanding—basic and diluted |
|
|
480,721 |
|
|
|
143,445 |
|
|
|
424,038 |
|
|
|
114,803 |
|
STRATEGIC STORAGE TRUST VI, INC. AND SUBSIDIARIES
COMPUTATION OF SAME-STORE OPERATING RESULTS
(UNAUDITED)
Same-Store Facility Results – three months ended June 30, 2025 and 2024
The following table sets forth operating data for our same-store facilities (stabilized and comparable properties that have been included in the consolidated results of operations since January 1, 2024) for the three months ended June 30, 2025 and 2024. We consider the following data to be meaningful as this allows for the comparison of results without the effects of acquisition, lease up, or development activity.
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Same-Store Facilities |
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Non Same-Store Facilities |
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Total |
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2025 |
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|
2024 |
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% Change |
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|
2025 |
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|
2024 |
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% Change |
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|
2025 |
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|
2024 |
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|
% Change |
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Revenues(1) |
|
$ |
3,543,957 |
|
|
$ |
3,372,625 |
|
|
5.1 |
% |
|
$ |
4,126,683 |
|
|
$ |
3,623,763 |
|
|
N/M |
|
$ |
7,670,640 |
|
|
$ |
6,996,388 |
|
|
9.6 |
% |
Property operating expenses(2) |
|
|
1,409,158 |
|
|
|
1,424,364 |
|
|
(1.1 |
)% |
|
|
1,893,139 |
|
|
|
1,756,219 |
|
|
N/M |
|
|
3,302,297 |
|
|
|
3,180,583 |
|
|
3.8 |
% |
Net operating income |
|
$ |
2,134,799 |
|
|
$ |
1,948,261 |
|
|
9.6 |
% |
|
$ |
2,233,544 |
|
|
$ |
1,867,544 |
|
|
N/M |
|
$ |
4,368,343 |
|
|
$ |
3,815,805 |
|
|
14.5 |
% |
Number of Facilities |
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12 |
|
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|
12 |
|
|
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|
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12 |
|
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|
12 |
|
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|
24 |
|
|
|
24 |
|
|
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||
Rentable square feet(3) |
|
|
892,610 |
|
|
|
892,665 |
|
|
|
|
|
1,254,500 |
|
|
|
1,204,615 |
|
|
|
|
|
2,147,110 |
|
|
|
2,097,280 |
|
|
|
||
Average physical occupancy(4) |
|
|
92.2 |
% |
|
|
92.9 |
% |
|
-0.7 |
% |
|
|
88.7 |
% |
|
|
83.4 |
% |
|
N/M |
|
|
90.2 |
% |
|
|
87.5 |
% |
|
2.7 |
% |
Annualized rent per occupied square foot(5) |
|
$ |
17.38 |
|
|
$ |
16.67 |
|
|
4.3 |
% |
|
|
N/M |
|
|
|
N/M |
|
|
N/M |
|
$ |
16.76 |
|
|
$ |
16.31 |
|
|
|
|
N/M Not meaningful |
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(1) |
|
Revenue includes rental revenue, ancillary revenue, administrative and late fees. |
|
(2) |
|
Property operating expenses excludes corporate general and administrative expenses, asset management fees, interest expense, depreciation, amortization expense and acquisition expenses, but includes property management fees. |
|
(3) |
|
Of the total rentable square feet, parking represented approximately 199,780 and 247,900 square feet as of June 30, 2025 and 2024, respectively. On a same-store basis, for the same periods, parking represented approximately 43,000 square feet. |
|
(4) |
|
Determined by dividing the sum of the month-end occupied square feet for the applicable group of facilities for each applicable period by the sum of their month-end rentable square feet for the period. |
|
(5) |
|
Determined by dividing the aggregate realized rental income for each applicable period by the aggregate of the month-end occupied square feet for the period. Properties are included in the respective calculations in their first full month of operations, as appropriate. We have excluded the realized rental revenue and occupied square feet related to parking herein for the purpose of calculating annualized rent per occupied square foot. |
|
Our increase in same-store revenue of approximately
Our same-store property operating expenses decreased by approximately
Net Operating Income (“NOI”)
NOI is a non-GAAP measure that SST VI defines as net income (loss), computed in accordance with GAAP, generated from properties, before corporate general and administrative expenses, asset management fees, interest expense, depreciation, amortization, acquisition expenses and other non-property related expenses. SST VI believes that NOI is useful for investors as it provides a measure of the operating performance of its operating assets because NOI excludes certain items that are not associated with the ongoing operation of the properties. Additionally, SST VI believes that NOI is a widely accepted measure of comparative operating performance in the real estate community. However, SST VI’s use of the term NOI may not be comparable to that of other real estate companies as they may have different methodologies for computing this amount.
The following table presents a reconciliation of net loss as presented on our consolidated statements of operations to NOI, as stated above, for the periods indicated:
|
|
Three Months Ended |
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|
|
June 30,
|
|
June 30,
|
||||
Net Loss |
|
$ |
(3,045,104 |
) |
|
$ |
(8,502,607 |
) |
Adjusted to exclude: |
|
|
|
|
|
|
||
Asset management fees(1)(2) |
|
|
860,606 |
|
|
|
871,890 |
|
General and administrative |
|
|
1,678,129 |
|
|
|
1,593,060 |
|
Depreciation |
|
|
3,280,079 |
|
|
|
3,172,390 |
|
Intangible amortization expense |
|
|
— |
|
|
|
838,548 |
|
Acquisition expenses—affiliates |
|
|
104,656 |
|
|
|
135,630 |
|
Other property acquisition expenses |
|
|
43,058 |
|
|
|
49,801 |
|
Interest expense |
|
|
4,176,197 |
|
|
|
4,532,579 |
|
Interest expense—debt issuance costs |
|
|
180,518 |
|
|
|
277,667 |
|
Derivative fair value adjustment |
|
|
— |
|
|
|
(147,357 |
) |
Other income (expense) |
|
|
9,829 |
|
|
|
(157,331 |
) |
Equity in loss of unconsolidated joint ventures |
|
|
385,074 |
|
|
|
— |
|
Foreign currency adjustment |
|
|
(3,304,699 |
) |
|
|
1,151,535 |
|
Total property net operating income |
|
$ |
4,368,343 |
|
|
$ |
3,815,805 |
|
(1) |
|
Asset management fees are included in Property operating expenses – affiliates in the consolidated statements of operations. |
(2) |
|
Includes amortization of Advisor contract of approximately |
Same-Store Facility Results – six months ended June 30, 2025 and 2024
The following table sets forth operating data for our same-store facilities (stabilized and comparable properties that have been included in the consolidated results of operations since January 1, 2024) for the six months ended June 30, 2025 and 2024. We consider the following data to be meaningful as this allows for the comparison of results without the effects of acquisition, lease up, or development activity.
|
|
Same-Store Facilities |
|
Non Same-Store Facilities |
|
Total |
||||||||||||||||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
% Change |
|
|
2025 |
|
|
|
2024 |
|
|
% Change |
|
|
2025 |
|
|
|
2024 |
|
|
% Change |
||
Revenues(1) |
|
$ |
7,010,595 |
|
|
$ |
6,618,986 |
|
|
5.9 |
% |
|
$ |
8,009,403 |
|
|
$ |
6,994,313 |
|
|
N/M |
|
$ |
15,019,998 |
|
|
$ |
13,613,299 |
|
|
10.3 |
% |
Property operating expenses(2) |
|
|
2,834,775 |
|
|
|
2,874,382 |
|
|
(1.4 |
)% |
|
|
3,852,034 |
|
|
|
3,627,421 |
|
|
N/M |
|
|
6,686,809 |
|
|
|
6,501,803 |
|
|
2.8 |
% |
Net operating income |
|
$ |
4,175,820 |
|
|
$ |
3,744,604 |
|
|
11.5 |
% |
|
$ |
4,157,369 |
|
|
$ |
3,366,892 |
|
|
N/M |
|
$ |
8,333,189 |
|
|
$ |
7,111,496 |
|
|
17.2 |
% |
Number of Facilities |
|
|
12 |
|
|
|
12 |
|
|
|
|
|
12 |
|
|
|
12 |
|
|
|
|
|
24 |
|
|
|
24 |
|
|
|
||
Rentable square feet(3) |
|
|
892,610 |
|
|
|
892,665 |
|
|
|
|
|
1,254,500 |
|
|
|
1,204,615 |
|
|
|
|
|
2,147,110 |
|
|
|
2,097,280 |
|
|
|
||
Average physical occupancy(4) |
|
|
92.2 |
% |
|
|
92.9 |
% |
|
-0.7 |
% |
|
|
88.7 |
% |
|
|
83.4 |
% |
|
N/M |
|
|
90.2 |
% |
|
|
87.5 |
% |
|
2.7 |
% |
Annualized rent per occupied square foot(5) |
|
$ |
17.20 |
|
|
$ |
16.54 |
|
|
4.0 |
% |
|
|
N/M |
|
|
|
N/M |
|
|
N/M |
|
$ |
16.52 |
|
|
$ |
16.12 |
|
|
|
|
N/M Not meaningful |
||
(1) |
|
Revenue includes rental revenue, ancillary revenue, administrative and late fees. |
(2) |
|
Property operating expenses excludes corporate general and administrative expenses, asset management fees, interest expense, depreciation, amortization expense and acquisition expenses, but includes property management fees. |
(3) |
|
Of the total rentable square feet, parking represented approximately 199,780 and 247,900 square feet as of June 30, 2025 and 2024, respectively. On a same-store basis, for the same periods, parking represented approximately 43,000 square feet. |
(4) |
|
Determined by dividing the sum of the month-end occupied square feet for the applicable group of facilities for each applicable period by the sum of their month-end rentable square feet for the period. |
(5) |
|
Determined by dividing the aggregate realized rental income for each applicable period by the aggregate of the month-end occupied square feet for the period. Properties are included in the respective calculations in their first full month of operations, as appropriate. We have excluded the realized rental revenue and occupied square feet related to parking herein for the purpose of calculating annualized rent per occupied square foot. |
Our increase in same-store revenue of approximately
Our same-store property operating expenses decreased by approximately
The following table presents a reconciliation of net loss as presented on our consolidated statements of operations to NOI, as stated above, for the periods indicated:
|
|
Six Months Ended |
||||||
|
|
June 30,
|
|
June 30,
|
||||
Net Loss |
|
$ |
(10,285,792 |
) |
|
$ |
(17,485,559 |
) |
Adjusted to exclude: |
|
|
|
|
|
|
||
Asset management fees(1)(2) |
|
|
1,655,441 |
|
|
|
1,759,979 |
|
General and administrative |
|
|
3,381,937 |
|
|
|
3,147,798 |
|
Depreciation |
|
|
6,398,481 |
|
|
|
6,347,622 |
|
Intangible amortization expense |
|
|
— |
|
|
|
1,878,146 |
|
Acquisition expenses—affiliates |
|
|
212,532 |
|
|
|
314,053 |
|
Other property acquisition expenses |
|
|
57,078 |
|
|
|
103,842 |
|
Interest expense |
|
|
8,283,492 |
|
|
|
9,242,874 |
|
Interest expense—debt issuance costs |
|
|
668,915 |
|
|
|
553,925 |
|
Derivative fair value adjustment |
|
|
531,449 |
|
|
|
(1,763,673 |
) |
Other income (expense) |
|
|
(69,183 |
) |
|
|
(345,149 |
) |
Equity in loss of unconsolidated joint ventures |
|
|
607,602 |
|
|
|
— |
|
Foreign currency adjustment |
|
|
(3,108,763 |
) |
|
|
3,357,638 |
|
Total property net operating income |
|
$ |
8,333,189 |
|
|
$ |
7,111,496 |
|
(1) |
|
Asset management fees are included in Property operating expenses – affiliates in the consolidated statements of operations. |
(2) |
|
Includes amortization of Advisor contract of approximately |
Forward-Looking Statements
Certain of the matters discussed in this earnings release, other than historical facts, constitute forward-looking statements within the meaning of the federal securities laws, and we intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in such federal securities laws. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words, or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by us or on our behalf, are also expressly qualified by these cautionary statements.
Such statements include, but are not limited to statements concerning our plans, strategies, initiatives, prospects, objectives, goals, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions and other information that is not historical information. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated, including, without limitation:
-
disruptions in the economy, including debt and banking markets and foreign currency, including changes in the Canadian Dollar ("CAD")/
U.S. Dollar ("USD") exchange rate; - significant transaction costs, including financing costs, and unknown liabilities;
- whether we will be successful in the pursuit of our business plan and investment objectives;
-
changes in the political and economic climate, economic conditions and fiscal imbalances in
the United States , and other major developments, including tariffs, wars, natural disasters, epidemics and pandemics, military actions, and terrorist attacks; - changes in tax and other laws and regulations, including tenant protection programs and other aspects of our business;
- difficulties in our ability to attract and retain qualified personnel and management;
- the effect of competition at our self-storage properties or from other storage alternatives, which could cause rents and occupancy rates to decline;
- failure to close on pending or future acquisitions on favorable terms or at all;
- our reliance on information technologies, which are vulnerable to, among other things, attack from computer viruses and malware, hacking, cyberattacks and other unauthorized access or misuse;
- increases in interest rates; and
- failure to maintain our REIT status.
All forward-looking statements, including without limitation, management’s examination of historical operating trends and estimates of future earnings, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them, but there can be no assurance that management’s expectations, beliefs and projections will result or be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this report is filed with the Securities and Exchange Commission (the “SEC”) and are not intended to be a guarantee of our performance in future periods. We cannot guarantee the accuracy of any such forward-looking statements contained in this earnings release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
For further information regarding risks and uncertainties associated with our business, and important factors that could cause our actual results to vary materially from those expressed or implied in such forward-looking statements, please refer to the factors listed and described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the “Risk Factors” sections of the documents we file from time to time with the SEC, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2024, as supplemented by the risk factors included in Part II, Item 1A of our Form 10-Qs, copies of which may be obtained from our website at www.strategicreit.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250815241767/en/
David Corak
SVP of Corporate Finance & Strategy
SmartStop Self Storage REIT, Inc.
IR@smartstop.com
Source: Strategic Storage Trust VI, Inc.
