Argus Professional Storage Management, LLC to Combine with SmartStop Self Storage REIT, Inc.

Core Viewpoint - SmartStop Self Storage REIT, Inc. is set to combine with Argus Professional Storage Management, enhancing its third-party management capabilities and expanding its portfolio to over 460 self-storage properties across North America, with the transaction expected to close in October 2025 [1][2]. Company Overview - SmartStop Self Storage REIT, Inc. is an internally managed real estate investment trust that operates self-storage facilities in the U.S. and Canada, with a portfolio of 236 operating properties as of September 24, 2025, totaling approximately 170,500 units and 19.1 million rentable square feet [6]. - Argus Professional Storage Management (APSM) is the second largest exclusively third-party management company in the self-storage industry, managing 227 stores across 26 states, encompassing approximately 16.6 million rental square feet and generating over $150 million in annual revenue [7]. Strategic Implications - The merger is viewed as a game-changer for the self-storage industry, creating a best-in-class operating and management platform that combines SmartStop's technology-driven approach with APSM's established presence in property management [2]. - SmartStop plans to offer three distinct partnership options to storage entrepreneurs, allowing for flexibility and independence while leveraging SmartStop's technology for operational efficiency and marketing [4]. Financial Aspects - The transaction is expected to be immediately accretive to SmartStop's Funds From Operations (FFO) as Adjusted, indicating a positive financial impact from the merger [2].