Latham & Watkins Advises on SmartStop Self Storage REIT’s US$810 Million IPO

SmartStop Self Storage REIT, Inc., an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, has announced the pricing of its public offering of 27,000,000 shares of common stock at a price to the public of US$30.00 per share. SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Shares of SmartStop’s common stock are expected to begin trading on April 2, 2025, on the New York Stock Exchange under the ticker symbol “SMA,” and the closing of the offering is expected to occur on April 3, 2025, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by partners Julian Kleindorfer, Lewis Kneib, and Jonathan Sarna, with associates Ben Winnett, Andrew Bentz, and Will Coughlin. Advice was also provided on tax matters by partner Ana O’Brien and counsel Will Kessler, with associate Joe Marcus; on environmental matters by partner Josh Marnitz, with associate Casey Kirk; on real estate matters by counsel Jeff Anderson, with associate Mike Nieberg; on benefits matters by partner Rifka Singer, with associate Anne Bracaglia; and on FINRA matters by partner Gail Neely, with corporate attorney Marta Talarek.