SmartStop Self Storage REIT, Inc. (SMA): debt financing — SmartStop closes $500M unsecured credit facility with $1.6B accordion, lower pricing

SmartStop Self Storage REIT, Inc.

Second amended & restated credit facility replaces Feb 2024 facility; total capacity $500M, may increase by $1.1B to $1.6B.
Initial advances priced ~30 bps lower than prior facility; grid varies from 100–145 bps (SOFR) based on leverage or credit rating.
Term is four years with one-year extension option; borrowings allowed in USD or CAD.
Outstanding $68.3M from prior facility rolled unchanged; facility is unsecured and fully recourse.
Syndicate led by KeyBank, BMO, JPMorgan, M&T, Scotiabank, Truist, Wells Fargo; chairman cites strengthened balance sheet.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SmartStop Self Storage REIT, Inc. incurred revolving credit of $500 million with KeyBank, National Association, as administrative agent at 105 basis points over Daily Simple SOFR maturing February 18, 2030.

Instrument: revolving credit
Principal: $500 million
Counterparty: KeyBank, National Association, as administrative agent
Rate: 105 basis points over Daily Simple SOFR
Maturity: February 18, 2030
Event: incurrence

Exact text from the filing

(the “2024 Credit Facility”). The 2026 Credit Agreement provides for a senior unsecured revolving credit facility (the “Credit Facility”) in an aggregate principal amount of $500 million. The Borrower has the right to increase the amount available under the Credit Facility by an additional $1.1 billion, for a total potential maximum aggregate amount of $1.6

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SmartStop Self Storage REIT, Inc. entered into 2026 Credit Agreement with KeyBank, National Association, as administrative agent, and certain other lenders party thereto valued at $500 million (effective 2026-02-18).

Action: entry
Agreement: credit facility
Counterparty: KeyBank, National Association, as administrative agent, and certain other lenders party thereto
Value: $500 million
Effective: 2026-02-18

Exact text from the filing

On February 18, 2026, SmartStop Self Storage REIT, Inc. (the “Company”), through its operating partnership (the “Borrower”), entered into a second amended and restated credit agreement with KeyBank, National Association, as administrative agent, certain others listed as joint book runners, joint lead arrangers, syndication agents and documentation agents, and certain other lenders party thereto (the “2026 Credit Agreement”).

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SmartStop Self Storage REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-057425

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