v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real estate facilities:    
Land $ 541,330 $ 480,539
Buildings 1,782,894 1,516,095
Site improvements 103,139 94,562
Real estate investment property, gross 2,427,363 2,091,196
Accumulated depreciation (366,447) (305,132)
Real estate investment property 2,060,916 1,786,064
Construction in process 6,443 9,503
Real estate facilities, net 2,067,359 1,795,567
Cash and cash equivalents 54,224 23,112
Restricted cash 5,144 6,189
Investments in unconsolidated real estate ventures (Note 6) 36,694 38,797
Investments in and advances to Managed REITs 130,961 57,722
Deferred tax assets 3,182 4,310
Other assets, net 27,188 33,538
Intangible assets, net of accumulated amortization 18,358 6,766
Trademarks, net of accumulated amortization 15,700 15,700
Goodwill 69,974 53,643
Debt issuance costs, net of accumulated amortization 3,388 6,723
Total assets [1] 2,432,172 2,042,067
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Debt, net 1,098,248 1,317,435
Accounts payable and accrued liabilities 38,646 38,113
Due to affiliates 0 362
Distributions payable 8,796 9,257
Deferred tax liabilities 6,559 5,954
Total liabilities 1,152,249 1,371,121
Commitments and contingencies (Note 14)
Equity:    
Additional paid-in capital 1,837,194 895,118
Distributions (463,165) (382,160)
Accumulated deficit (194,407) (185,649)
Accumulated other comprehensive income (loss) 733 (1,708)
Total SmartStop Self Storage REIT, Inc. equity 1,180,410 325,698
Noncontrolling interests in our Operating Partnership 99,513 86,470
Other noncontrolling interests 0 380
Total noncontrolling interests 99,513 86,850
Total equity 1,279,923 412,548
Total liabilities, temporary equity and equity 2,432,172 2,042,067
Redeemable Common Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock 0 62,042
Series A Convertible Preferred Stock    
LIABILITIES, TEMPORARY EQUITY, AND EQUITY    
Redeemable common stock 0 196,356
Class A Common stock    
Equity:    
Common stock, value 0 89
Class T Common stock    
Equity:    
Common stock, value 0 8
Common Stock    
Equity:    
Common stock, value $ 55 $ 0
[1] Other than our investments in and advances to Managed REITs, investments in unconsolidated real estate ventures and investment in the Third Party Platform, substantially all of our investments in real estate facilities and intangible assets, as well as our capital expenditures, for the years ended and as of December 31, 2025 and 2024, were associated with our self storage platform. See Note 3 – Real Estate Facilities for additional detail.