SmartStop Closes Canadian Maple Bond Offering for CAD $200 Million

SmartStop Self Storage REIT, Inc. (NYSE: SMA), an internally managed real estate investment trust and owner and operator of self-storage facilities in the United States and Canada, said August 18, 2026, that it closed a CAD $200 million offering of Series C Senior Unsecured Notes due February 18, 2031. The Notes were issued by SmartStop’s operating partnership, SmartStop OP, L.P. They bear interest at approximately 4.317% annually, payable in cash in equal semiannual installments beginning February 18, 2027. Morningstar DBRS assigned the Notes a BBB rating with a Stable Outlook. The offering marks SmartStop’s third senior unsecured Canadian bond issuance. The company cited its growing Canadian presence and more than 15 years of operating experience in the Greater Toronto Area. SmartStop said it used net proceeds to repay existing indebtedness, including amounts drawn under its revolving credit facility, and for general corporate purposes. Chairman and Chief Executive Officer H. Michael Schwartz said the transaction substantially completed refinancing of the company’s 2026 debt maturities, materially termed out its senior revolver balance and strategically laddered its debt maturities. BMO Capital Markets and National Bank of Canada Capital Markets served as Bookrunners. Scotiabank and RBC Capital Markets acted as co-managers. McMillan LLP was Canadian Counsel; Nelson Mullins Riley & Scarborough LLP was Issuer’s United States Counsel; Venable LLP was Maryland counsel; and Davies Ward Phillips & Vineberg LLP was Dealers’ Counsel. The Notes were not registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption. The announcement does not constitute an offer to sell or solicitation to buy securities where prohibited by law.