SmartStop Acquires Denver-Area Self-Storage Facility

On May 29, SmartStop Self Storage REIT, Inc. (NYSE:SMA) announced the acquisition of a self-storage facility at 5885 W Colfax Ave in Lakewood, Colorado, expanding its presence within the Denver Metropolitan Statistical Area. The property adds approximately 66,850 net rentable square feet and 600 storage units to SmartStop’s portfolio.

A real estate investor inspecting a property, illustrating the bank’s portfolio of mortgages and real estate investments.

The facility features a diverse mix of storage options across six buildings. It includes drive-up units, ground-level interior non-climate-controlled units, and upper-level interior climate-controlled units accessible via three elevators. Located just 3.5 miles from downtown Denver, the property enjoys high visibility along West Colfax Avenue, with approximately 22,000 vehicles passing daily.

Commenting on the acquisition, Wayne Johnson, the company’s President and Chief Investment Officer, said: “Our continued investment in high-quality storage assets within strong, growing markets like the Denver MSA is part of our long-term strategic vision.” Johnson believes this is a great purchase because the surrounding area shows promising demographics.

This acquisition comes just one day after SmartStop received a BBB credit rating with a stable trend from Morningstar DBRS. The rating, which also applies to SmartStop’s 2032 Private Placement Notes, reflects the company’s strengthening financial position and creditworthiness.

SmartStop Self Storage REIT, Inc. (NYSE:SMA) is a self-managed real estate investment trust (REIT). The REIT owns, operates, and manages self-storage properties across North America. Its target customers are individuals and businesses looking for storage solutions. The company also sponsors other self-storage investment programs through its subsidiary, SmartStop REIT Advisors, LLC.

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Disclosure: None.