Millennium Reports 5.1% Stake in SmartStop Self Storage REIT

Three affiliated entities jointly disclose significant ownership, signaling institutional interest in self-storage assets.

May 28, 2025

Millennium Makes Its Move

Millennium Management and its affiliates have taken a clear position in SmartStop Self Storage REIT, disclosing ownership of over 1.5 million shares. That adds up to a 5.1% stake in the company’s common stock. The investment was reported as of May 22, 2025, with all shares held under shared control by Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander.

Each party has joint authority to vote and manage the disposition of the shares, but none claim exclusive control. The structure of the filing makes this clear: the shares are tied to entities overseen by Millennium and managed under a framework where discretion and voting rights are centralized. The formality of this setup avoids any suggestion of an effort to steer SmartStop’s direction—it’s a passive position, filed under the appropriate rule for non-controlling stakes.

About the Issuer

SmartStop, based in Ladera Ranch, California, focuses on self-storage properties across the U.S. For Millennium and its affiliates, this is a tactical allocation into a real estate segment that continues to draw interest from institutional players. Self-storage REITs have proven their durability in a range of market conditions, and this disclosure puts SmartStop firmly on the radar.

Strategic Clarity

While the filing doesn’t speak to the motivation behind the investment, the move is consistent with broader patterns we’re seeing—firms with scale allocating into targeted public equity exposures that fit their longer-term strategy. The 13G shows Millennium’s position clearly, without overcomplicating it.

It’s a simple story: a major firm has taken a meaningful stake, disclosed it in full, and opted to stay hands-off in governance. For market participants tracking ownership shifts in SmartStop or the self-storage REIT space more broadly, this is an update worth noting.