--- schema_version: "secwatch.filing_event.v1" accession: "0000950170-23-029424" form_type: "8-K" ticker: "SGST" cik: "0001852575" company_name: "Strategic Storage Trust VI, Inc." filed_at: "2023-06-22T23:59:59+00:00" generated_at: "2026-06-13T19:20:14.715250+00:00" event_type: "other_material" sentiment: "positive" materiality_score: 0.78 calibrated_materiality_score: 0.78 confidence: "high" source: SEC EDGAR --- # Strategic Storage Trust VI acquires six self-storage facilities in Greater Toronto Area for CAD$212M ## Summary - Six Class A properties with ~5,500 units and ~524,000 net rentable sq ft acquired for ~CAD$212M. - Funding includes public offering proceeds, Series B Preferred Equity, CAD$127.2M secured loan from National Bank of Canada, and $15M unsecured bridge loan. - Loan has two-year term, interest rate CDOR+2.6% (fixed via swap at 4.73%), interest-only first year, then 25-year amortization. - Facilities will be branded under SmartStop Self Storage banner with new technology and customer service enhancements. - CEO H. Michael Schwartz highlighted the acquisition as a strategic step to revolutionize self-storage in North America. ## SEC filing metadata - accession: 0000950170-23-029424 - form_type: 8-K - ticker: SGST - cik: 0001852575 - company_name: Strategic Storage Trust VI, Inc. - filed_at: 2023-06-22T23:59:59+00:00 - event_type: other_material - sentiment: positive - materiality_score: 0.78 - calibrated_materiality_score: 0.78 - confidence: high - sec_items: 1.01, 2.03, 2.01, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1852575/000095017023029424/0000950170-23-029424-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852575/000095017023029424/sstvi-20230615.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950170-23-029424 - JSON: https://secwatch.observer/filing/0000950170-23-029424.json - Plain text: https://secwatch.observer/filing/0000950170-23-029424.txt ## Key facts - Debt Financings Strategic Storage Trust VI, Inc. incurred credit facility of CAD$127.2 million with National Bank of Canada at 1 month Canadian Dollar Offered Rate ("CDOR"), plus 2.6% maturing June 15, 2025. - Instrument: credit facility - Principal: CAD$127.2 million - Counterparty: National Bank of Canada - Rate: 1 month Canadian Dollar Offered Rate ("CDOR"), plus 2.6% - Maturity: June 15, 2025 - Event: incurrence source text: On June 15, 2023, Strategic Storage Trust VI, Inc. (the "Company"), through certain wholly-owned subsidiaries (the "Borrowers"), entered into a CAD$127.2 million financing with National Bank of Canada ("National Bank") as administrative agent and certain other lenders party thereto (the "Lenders") pursuant to a credit agreement (the "Secured Loan"). evidence_url: https://www.sec.gov/Archives/edgar/data/1852575/000095017023029424/0000950170-23-029424-index.htm - M&A Transactions Strategic Storage Trust VI, Inc. completed an acquisition involving Cityview, Esandar, Lakeshore, Sheridan, Sanford, Appleby (sellers of the Ontario Portfolio) for purchase price of approximately CAD$212 million, plus closing costs and an acquisition fee to our Advisor, funded with a combination of proceeds from the Compan (closed 2023-06-19). - Action: acquisition - Counterparty: Cityview, Esandar, Lakeshore, Sheridan, Sanford, Appleby (sellers of the Ontario Portfolio) - Consideration: purchase price of approximately CAD$212 million, plus closing costs and an acquisition fee to our Advisor, funded with a combination of proceeds from the Compan - Closing: 2023-06-19 source text: On June 19, 2023, the Company closed on the purchase of the Ontario Portfolio for a purchase price of approximately CAD$212 million, plus closing costs and an acquisition fee to our Advisor, which was funded with a combination of proceeds from the Company's public offering, proceeds from Series B Preferred Equity, proceeds from the Secured Loan, which is described in Item 2.03 below, and an unsecured bridge loan in the amount of $15 million from an affiliate of the sponsor of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1852575/000095017023029424/0000950170-23-029424-index.htm - Material Agreements Strategic Storage Trust VI, Inc. entered into Secured Loan with Lenders valued at Secured loan of CAD $127.2 million notional, interest rate CDOR+2.6% fixed via swap at 4.73%, two-ye (effective 2023-06-15). - Action: entry - Agreement: credit facility - Counterparty: Lenders - Value: Secured loan of CAD $127.2 million notional, interest rate CDOR+2.6% fixed via swap at 4.73%, two-ye - Effective: 2023-06-15 source text: As described in Item 1.01, above, on June 15, 2023, the Company entered into the Secured Loan with the Lenders. The Secured Loan is secured by a first mortgage on each property in the Ontario Portfolio. Pursuant to the loan agreement for the Secured Loan (the “Loan Agreement”), the interest rate is equal to the 1 month Canadian Dollar Offered Rate (“CDOR”), plus 2.6%. In addition, we entered into an interest rate swap agreement with a notional amount of CAD $127.2 million, whereby the CDOR is fixed at 4.73%. The Loan has an initial term of two years, maturing on June 15, 2025. The Loan is interest-only for the first year, payable monthly, and payments of principal and interest, calculated using a 25 year amortization, are due monthly after. evidence_url: https://www.sec.gov/Archives/edgar/data/1852575/000095017023029424/0000950170-23-029424-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.