Strategic Storage Trust VI Announces First NAV

Strategic Storage Trust VI Inc. has set its initial net asset value (NAV) at $10.00 per share for all share classes, following board approval and a third-party valuation.

August 16, 2024

Strategic Storage Trust VI Inc., a non-traded REIT that is sponsored by an affiliate of SmartStop Self Storage REIT Inc., has announced its first estimated net asset value (NAV) of $10.00 per share for Class P, A, T, W, Y, and Z shares. The board of directors approved the NAV based on the valuation of the REIT’s assets and liabilities as of March 31, 2024, following an assessment by Kroll LLC, a third-party valuation firm, which estimated the NAV range between $7.45 and $11.00 per share.

With this NAV established, the REIT’s share redemption program will permit redemptions at 93% of the $10.00 NAV for Class A, T, W, Y, and Z shares, starting with redemption requests made during the third quarter of 2024 and fulfilled at the end of October 2024. The redemption price for Class P shares will still depend on the length of time the shares have been held.

Furthermore, the board has declared a daily distribution rate of $0.001693 per share for holders of Class P, A, T, W, Y, and Z shares, covering the period from July 1 through September 30, 2024.

Strategic Storage Trust VI, which specializes in self-storage facilities and related real estate investments, has successfully raised capital through both private and public offerings. The REIT currently owns 24 operating properties across the U.S. and Canada, with additional development projects in Canada.