Strategic Storage Trust VI Inc. – a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc. and distributed by Pacific Oak Capital Markets – in partnership with SmartCentres, has opened a new Class A self-storage facility in the Stoney Creek neighborhood of Hamilton in Ontario, Canada.
Located at 550 Centennial Parkway N with visibility from the Queen Elizabeth Way highway, the facility offers four stories of climate-controlled storage space, encompassing approximately 100,000 net rentable square feet across approximately 970 units. Also, the company said the asset is strategically positioned within a bustling shopping center that serves as a hub for big-box retail.
The first and fourth floors are currently open for business, and construction on the remaining floors is expected to be complete during the fourth quarter of 2024. According to the REIT, the facility is intended to address the increasing demand for self-storage solutions in the surrounding communities, such as Riverdale West, Riverside East, Grayside, Cherry Heights, Vincent, Red Hill, Nashdale, Kentley, and McQuesten West. Additionally, the site presents an opportunity for potential installation of solar panels.
“We are thrilled to be part of the vibrant Stoney Creek area of Hamilton,” said H. Michael Schwartz, president and chief executive officer of Strategic Storage Trust VI. “With its prime location, modern amenities, and easy accessibility, this new facility is designed to help meet the increasing demand for premium storage solutions in the area. We’re confident it will provide significant value and convenience to the community.”
In August 2024, Strategic Storage Trust VI declared its inaugural net asset value of $10.00 per share for Class P, A, T, W, Y, and Z shares.
Strategic Storage Trust VI, Inc., is a public non-traded REIT focused on income and growth self-storage facilities and related real estate investments. As of Nov. 6, 2024, the REIT owned a portfolio of 24 operating properties in the United States and Canada and held 50% equity interests in five unconsolidated real estate ventures in Canada that are intended to be developed into self-storage facilities.
SmartStop Self Storage REIT Inc. is a self-managed real estate investment trust. As of Nov. 6, 2024, SmartStop had an owned or managed portfolio of 203 operating properties in 22 states and Canada, comprising approximately 144,000 units and 16.2 million rentable square feet. SmartStop and its affiliates own or manage 37 operating self-storage properties in Canada, which total approximately 32,000 units and 3.3 million rentable square feet.
Pacific Oak Capital Markets is a wholesaler and managing broker-dealer for alternative investment offerings sponsored by Pacific Oak Capital Advisors, as well as other third parties.
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