SmartStop Self Storage REIT (SMA-N) has again expanded its presence in Alberta, acquiring five “institutional-quality” self-storage facilities across the province.

The Ladera, Calif.-based company released few details about the transaction in its announcement late Tuesday, but said they are located in Edmonton, Sherwood Park, Red Deer, Canmore and Cochrane.

“This acquisition represents an important milestone for SmartStop as we expand our footprint in Western Canada. As a result of this acquisition, we now have 49 operating assets across the country,” H. Michael Schwartz, SmartStop’s chairman and chief executive officer, said in the announcement. 

“Alberta’s growing population and diverse markets create significant demand for high-quality storage, and we are confident these facilities will provide long-term value to both our customers and our shareholders.”

The company notes the facilities serve a range of customer bases in the communities, which span suburban and rural residential and commercial districts. Alberta has been a target market for SmartStop due to its continuing population growth and rising self-storage demand.

SmartStop had discussed its ongoing expansion in Canada in the company’s Q2 2025 financial report released Aug. 6. The report noted SmartStop had eight properties under contract, including a portfolio of five sites and a development site which it expected to close on.

The other two properties under contract were to be acquired via one of SmartStop’s managed REITs. 

In total, the eight properties were to be acquired for $80.3 million (all figures US), while the six properties SmartStop was to acquire were valued at $73.1 million.

Earlier this year, SmartStop also acquired a 74,000-square-foot storage facility in Kelowna, B.C., containing approximately 800 units.

Q2 marked SmartStop’s first quarter as a publicly traded company. It converted to a REIT structure with a public offering which raised $875.6 million in proceeds. The funds were used to redeem its Series A Convertible Preferred Stock, pay down existing debt, and repay an acquisition facility. 

The remaining net proceeds have been used to fund external growth with property acquisitions, and fund other general corporate uses.

In conjunction with the creation of the REIT, SmartStop secured new credit ratings of BBB (stable) from DBRS Morningstar and was upgraded to BBB (stable) by KBRA.

About SmartStop Self Storage REIT, Inc.

SmartStop Self Storage REIT, Inc. is a self-managed REIT with a fully integrated operations team of over 600 self-storage professionals. 

SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of Aug. 26, SmartStop has an owned or managed a portfolio of 235 operating properties in 23 states, the District of Columbia and Canada, comprising approximately 170,000 units and 19 million rentable square feet.

SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 41,800 units and 4.2 million rentable square feet.