SmartStop Self Storage REIT Completes CAD 200M 2031 Note Offering

What Happened SmartStop OP, L.P., the operating partnership of SmartStop Self Storage REIT, Inc., announced on August 18, 2026 that it completed a private placement of CAD 200 million aggregate principal amount of 4.317% Senior Unsecured Notes due February 18, 2031. The 2031 Notes were sold in Canada at $1,000 CAD per $1,000 CAD principal amount under an indenture with Computershare Trust Company of Canada (third supplemental indenture dated August 18, 2026). Interest is payable semiannually on February 18 and August 18, beginning February 18, 2027. The notes are guaranteed by the Company and certain subsidiaries and are rated BBB (Stable) by Morningstar DBRS.

Key Details

• Offering size: CAD 200,000,000 of 4.317% Senior Unsecured Notes due Feb 18, 2031.
• Price and structure: Private placement in Canada at $1,000 CAD per $1,000 CAD principal; issued under an indenture with Computershare Trust Company of Canada.
• Interest and payments: 4.317% coupon, paid semiannually on Feb 18 and Aug 18, first payment Feb 18, 2027.
• Use of proceeds: Net proceeds used to repay existing indebtedness (including amounts drawn under the revolving credit facility) and for general corporate purposes.
• Other: Notes are not registered under the U.S. Securities Act and may not be offered or sold in the U.S. absent registration or an exemption.

Why It Matters This debt offering extends SmartStop’s secured funding with a fixed-rate senior unsecured instrument maturing in 2031, which can reduce near-term reliance on its revolving credit facility and change its interest expense profile. The BBB (Stable) rating provides an independent view of credit quality that may affect future borrowing costs. Retail investors should note the securities were sold in a private Canadian placement and are not registered for sale in the U.S., limiting direct access for U.S.-based holders.