SmartStop to acquire Argus Professional Storage Management for $21M upfront plus $11M earnout

SmartStop Self Storage REIT, Inc.

Total upfront consideration of $21M: $8.5M cash and 328,343 OP units; earnout up to $11M based on FY2028 revenue.
Post-combination, SmartStop will own or manage over 460 self-storage properties in North America.
Transaction unanimously approved by SmartStop board; expected to close early October 2025.
Deal expected to be immediately accretive to SmartStop's FFO as Adjusted, per CEO H. Michael Schwartz.
BMO Capital Markets acted as SmartStop's exclusive financial advisor; Nelson Mullins provided legal counsel.

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