SGST on OTC

Strategic Storage Trust VI, Inc.

Strategic Storage Trust VI, Inc. is an American real estate investment trust based in Ladera Ranch.1 Its shares trade on OTC under the symbol SGST.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$30.7MRevenue, fiscal 20252
-$24.0MNet income, fiscal 20252

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  • TickerSGST on OTC1
  • IndustryReal Estate Investment Trusts1
  • HeadquartersLadera Ranch, California1
  • Incorporated inMD3
  • Business address10 Terrace Road, Ladera Ranch, Ca 926943
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formCorporation
  • Kind of organizationReal estate investment trust1

Strategic Storage Trust VI, Inc., a Maryland corporation (the “Company”), was formed on October 14, 2020 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in self storage facilities and commenced formal operations on March 10, 2021. Our year-end is December 31. As used herein, “we,” “us,” “our” and “Company” refer to Strategic Storage Trust VI, Inc. and each of our subsidiaries.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-18.9%Operating margin2
-78.1%Net margin2
8.8%Revenue growth, 20252
-110.0%Return on equity2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs45¢$13.9M
  • Interest55¢$16.8M

Out of $30.7M in revenue.2 The company lost money this year.

Financial statements

Revenue672$30.7M in 2025+2327% since 2021
0$10.0M$20.0M$30.0M$40.0M2021: $1.3M$1.3M20212022: $8.8M$8.8M2022+594%2023: $21.2M$21.2M2023+141%2024: $28.2M$28.2M2024+33%2025: $30.7M$30.7M2025+9%
Operating income672-$5.8M in 2025+120% since 2021
-$15.0M-$10.0M-$5.0M02021: -$2.6M-$2.6M20212022: -$7.3M-$7.3M2022+176%2023: -$14.5M-$14.5M2023+100%2024: -$10.3M-$10.3M2024−29%2025: -$5.8M-$5.8M2025−44%
Net income672-$24.0M in 2025+564% since 2021
-$40.0M-$30.0M-$20.0M-$10.0M02021: -$3.6M-$3.6M20212022: -$14.4M-$14.4M2022+298%2023: -$32.9M-$32.9M2023+129%2024: -$35.6M-$35.6M2024+8%2025: -$24.0M-$24.0M2025−33%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Self storage rental revenue$30.5M$28.1M$21.0M
Ancillary operating revenue$194.5K$183.8K$169.1K
Total revenues$30.7M$28.2M$21.2M
Property operating expenses$11.5M$11.0M$9.2M
Property operating expenses affiliates$5.2M$5.1M$4.6M
General and administrative$6.2M$5.8M$5.3M
Depreciation$12.9M$12.8M$10.5M
Intangible amortization expense$0$3.0M$4.4M
Acquisition expense - affiliates$388.8K$589.2K$564.7K
Other property acquisition expenses$350.8K$188.0K$1.0M
Total operating expenses$36.5M$38.6M$35.7M
Operating loss-$5.8M-$10.3M-$14.5M
Interest expense-$16.8M-$18.0M-$16.1M
Interest expense debt issuance costs-$1.1M-$1.3M-$1.5M
Derivative fair value adjustment-$531.4K$184.4K-$1.9M
Other income, net$117.3K$397.7K$546.6K
Equity in loss of unconsolidated real estate ventures-$2.1M$0$0
Foreign currency adjustment$2.2M-$6.5M$528.9K
Net loss-$24.0M-$35.6M-$32.9M
Less: Distributions to preferred unitholders in our Operating Partnership-$531.8K-$271.2K
Less: Distributions to preferred stockholders-$12.5M-$12.5M-$8.3M
Less: Accretion of preferred equity costs-$189.9K
Net loss attributable to the noncontrolling interests in our Operating Partnership$488.9K$831.7K$968.7K
Net loss attributable to Strategic Storage Trust VI, Inc. common stockholders-$36.6M-$47.3M-$40.8M

Compare Strategic Storage Trust VI, Inc. with another company

Corporate structure

Strategic Storage Trust VI, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Strategic Storage Trust VI, Inc. Ladera Ranch, California
    • Strategic Storage Operating Partnership VI, L.P. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Strategic Storage Trust VI, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$112.8M2 Dec 31, 2025$109.1M2 Dec 31, 2024+3.4%
Buildings and improvements$385.7M2 Dec 31, 2025$375.5M2 Dec 31, 2024+2.7%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$471.5M2 Dec 31, 2025$470.6M2 Dec 31, 2024+0.2%
Real estate investments, at cost$512.5M2 Dec 31, 2025$498.3M2 Dec 31, 2024+2.9%
Real estate accumulated depreciation$41.0M2 Dec 31, 2025$27.6M2 Dec 31, 2024+48.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$8.8M2 Dec 31, 2025$10.8M2 Dec 31, 2024−18.7%
Stakes in other companies (equity method)$24.5M2 Dec 31, 2025$18.2M2 Dec 31, 2024+34.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$9.8M2 Dec 31, 2025$9.5M2 Dec 31, 2024+3.2%
Accumulated amortization$9.8M2 Dec 31, 2025$9.5M2 Dec 31, 2024+3.2%

Properties, in its own words

As of December 31, 2025, we owned 24 operating self storage facilities located in seven states (Arizona, Delaware, Florida, Nevada, Oregon, Pennsylvania and Washington) and three Canadian provinces (Alberta, British Columbia and Ontario), comprising approximately 19,115 units and approximately 2.1 million rentable square feet.

See Note 5 – Debt, of the Notes to the Consolidated Financial Statements contained in this report for more information about our indebtedness secured by our properties.

The rest of Item 2

As of December 31, 2025, our wholly-owned operating self storage portfolio was comprised as follows:

State · No. ofProperties · Units(1) · Sq. Ft.(net)(2) · % of TotalRentableSq. Ft. · PhysicalOccupancy%(3) · RentalIncome%(4)

Alberta · 1 · 495 · 48,800 · 2% · 89% · 3%

Arizona · 4 · 2,850 · 378,720 · 17% · 94% · 15%

British Columbia · 1 · 925 · 59,180 · 3% · 88% · 4%

Delaware · 1 · 820 · 80,545 · 4% · 84% · 3%

Florida · 4 · 2,585 · 334,615 · 16% · 90% · 11%

Nevada · 1 · 335 · 51,900 · 2% · 94% · 3%

Ontario · 9 · 8,680 · 935,635 · 44% · 85% · 50%

Oregon · 1 · 520 · 55,830 · 3% · 96% · 3%

Pennsylvania · 1 · 810 · 78,040 · 4% · 91% · 4%

Washington · 1 · 1,095 · 99,745 · 5% · 91% · 4%

24 · 19,115 · 2,123,010 · 100% · 88% · 100%

Includes all rentable units, consisting of storage units and parking (approximately 725 units).

Includes all rentable square feet, consisting of storage units and parking (approximately 209,320 square feet).

Represents the occupied square feet of all facilities we owned in a state or province divided by total rentable square feet of all the facilities we owned in such state or area as of December 31, 2025.

Represents rental income (excludes administrative fees, late fees, and other ancillary income) for all facilities we owned in a state or province divided by our total rental income for the month ended December 31, 2025.

Development properties

Bradenton Land

On February 16, 2023, we, through an indirect, wholly-owned subsidiary of our Operating Partnership, acquired a parcel of land adjacent to our property in Bradenton, Florida (the “Bradenton Land”) from an unaffiliated third party. The purchase price for the Bradenton Land was approximately $1.4 million, plus closing costs and an acquisition fee to our advisor. We are in the process of expanding our current self storage property on the Bradenton Land. As of December 31, 2025, estimated development cost to complete the expansion are approximately $2.1 million, which we expect to fund with a combination of net proceeds from our Series E Preferred Offering and/or potential future debt financing.

Etobicoke Land

On March 27, 2023, we, through an indirect, wholly-owned subsidiary of our Operating Partnership, acquired a parcel of land to be developed into a self storage facility located in Etobicoke, in the city of Toronto, Ontario (the “Etobicoke Land”) from an unaffiliated third party. The purchase price for the Etobicoke Land was approximately CAD $2.2 million, plus closing costs and an acquisition fee to our advisor. As of December 31, 2025, our cost to complete development is approximately CAD $5.3 million, which we expect to fund with the Meridian financing, as described below.

On March 6, 2025, we through wholly-owned subsidiary of our Operating Partnership, entered into a credit agreement with Meridian Credit Union Limited ("Meridian") with a maximum borrowing capacity of CAD $16.0 million. As of December 31, 2025, we had drawn approximately CAD $10.4 million and have CAD $5.6 million available. Please see Note 5 - Debt of the Notes to the Consolidated Financial Statements contained elsewhere in this report for additional information.

In February 2026, we substantially completed development and commenced operations at the Etobicoke Property.

Investments in Unconsolidated Real Estate Ventures

We have entered into joint venture agreements with a subsidiary of SmartCentres, an unaffiliated third party, to acquire tracts of land and develop them into self storage facilities. We account for these investments using the equity method of accounting and they are stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings (loss) will generally be recognized based on our ownership interest in the earnings (loss) of each of the unconsolidated investments.

The following table summarizes our 50% ownership interests in unconsolidated real estate ventures as of December 31, 2025:

Location · Date Real EstateVenture AcquiredLand · Real EstateVenture Status · Completion Date or estimated completion · Units · Net Rentable Sq. Ft.

Toronto (1) · Toronto, Ontario · April 2021 · Operational · June 2025 · 1,420 · 101,855

Toronto II (1) · Toronto, Ontario · December 2021 · Operational · April 2025 · 1,580 · 114,535

Dorval (1) · Dorval, Quebec · February 2023 · Operational · June 2025 · 1,290 · 112,280

Hamilton (1) · Hamilton, Ontario · November 2023 · Operational · October 2024 · 950 · 97,095

Montreal (2) · Montreal, Quebec · January 2024 · Under Development · First half of 2026 · 1,450 · 124,000

6,690 · 549,765

As of December 31, 2025, these four JV Properties were encumbered by first mortgages pursuant to theSmartCentres Financing (defined below).

Approximate units and net rentable square feet at completion.

As of December 31, 2025, our 50% share of development costs are currently expected to be approximately CAD $0.2 million for the Toronto Property, approximately CAD $0.2 million for the Toronto II Property, approximately CAD $0.2 million for the Dorval Property and approximately CAD $6.0 million for the Montreal Property. Development costs for Toronto, Toronto II and Dorval properties are expected to be funded with the SmartCentres Financing. The development costs for the Montreal Property are expected to be funded with a combination of net proceeds from our Series E Preferred Offering and/or the SmartCentres Financing.

Item 2 of the 10-K filed Mar 24, 2026.5

Leadership

Who has led Strategic Storage Trust VI, Inc., and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Matt F. Lopez2023
2025
Board members and other officers (6)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Strategic Storage Operating Partnership VI, L.P. Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 26, 20268-K Regulation FD disclosure20
  2. Jul 14, 20268-K Entered a material agreement; Regulation FD disclosure; Other events21
  3. Jun 25, 20268-K Shareholder vote22
  4. May 28, 20268-K Regulation FD disclosure23
  5. May 19, 20268-K Regulation FD disclosure24
  6. May 14, 20268-K Regulation FD disclosure25
  7. Apr 2, 20268-K Regulation FD disclosure26
  8. Mar 23, 20268-K Regulation FD disclosure; Other events27
  9. Feb 26, 20268-K Regulation FD disclosure28
  10. Nov 26, 20258-K Regulation FD disclosure29
  11. Oct 6, 20258-K Entered a material agreement; Unregistered sale of shares; Change to shareholders' rights30
  12. Sep 5, 20258-K Entered a material agreement31
  13. Apr 28, 2023New chief executive H. Michael Schwartz becomes CEO13

Filings

162 filings to the SEC since October 2021: 4 annual reports, 14 quarterly reports, 57 major events, 15 insider forms, 1 private raises, 71 other. The latest 20:

  1. Sep 11, 2026EFFECT EDGAR
  2. Sep 11, 2026424B3 EDGAR
  3. Sep 10, 2026424B3 EDGAR
  4. Aug 28, 2026S-4 EDGAR
  5. Aug 26, 20268-K EDGAR
  6. Aug 11, 202610-Q EDGAR
  7. Jul 14, 20268-K EDGAR
  8. Jun 26, 20264 PRIMARY DOCUMENT EDGAR
  9. Jun 26, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 25, 20268-K EDGAR
  11. May 28, 20268-K EDGAR
  12. May 20, 2026RW EDGAR
  13. May 19, 20268-K EDGAR
  14. May 14, 20268-K EDGAR
  15. May 12, 202610-Q EDGAR
  16. Apr 15, 2026ARS EDGAR
  17. Apr 15, 2026DEF 14A EDGAR
  18. Apr 2, 20268-K EDGAR
  19. Mar 24, 202610-K EDGAR
  20. Mar 23, 20268-K EDGAR

The 162 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Dec 3, 2025Filed a private offering of equity32 Form D: $75 million offered in all Form D

SEC filer profile

How Strategic Storage Trust VI, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARStrategic Storage Trust VI, Inc.1
  • CIK0001852575
  • Employer ID (EIN)85-34944315
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inMaryland5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address10 Terrace Road, Ladera Ranch, CA 926941
  • Phone94954245161
  • Shares outstanding11,505,957 Common Class P shares; 3,261,851 Common Class A shares; 5,475,436 Common Class T shares; 725,625 Common Class W shares; 5,497,253 Common Class Y shares; 579,447 Common Class Z shares as of Mar 17, 20265
  • Public float$0 as of Dec 31, 20252
  • AuditorBDO USA, P.C., Costa Mesa, California PCAOB ID 243; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceApr 1, 20211
  • Filings170 in all: 8-K (56), 424B3 (37), 10-Q (14), 4 (8), 3 (7), EFFECT (7), S-11/A (6), POS AM (5)1
    All 22 form types

    10-K (4), ARS (4), DEF 14A (4), CORRESP (3), DEFA14A (3), D (2), S-11 (2), UPLOAD (2), 8-A12G (1), 8-K/A (1), POS EX (1), RW (1), S-3D (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 24, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 15, 2026
    Latest 8-K (8-K) Aug 26, 2026

Securities registered for trading

ClassSymbolExchange
None

From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Strategic Storage Trust VI, Inc. names in Item 1A of its 10-K filed Mar 24, 2026: 77 risks under these headings, as written.5

  • Below are risks and uncertainties that could adversely affect our operations that we believe are material to stockholders. Additional risks and uncertainties not presently known to us or that we do not consider material based on the information currently available to us may also harm our business. Unless the context otherwise requires, references to stockholders are generally intended to be references to our common stockholders.
  • Risks Related to an Investment in Strategic Storage Trust VI, Inc.
  • We have limited operating history and established financing sources and we cannot assure our stockholders that we will be successful in the marketplace.
  • The prior performance of real estate investment programs sponsored by affiliates of our Sponsor may not be an indication of our future results.
  • We have incurred a net loss to date, have an accumulated deficit, and our operations may not be profitable in 2026.
  • There is currently no public trading market for our shares and there may never be one; therefore, it will be difficult for our stockholders to sell their shares. Our charter does not require us to pursue a liquidity transaction at any time.
  • Our stockholders may be unable to sell their shares because their ability to have their shares redeemed pursuant to our share redemption program, which is currently partially suspended, is subject to significant restrictions and limitations and if our stockholders are able to sell their shares under the program, our stockholders may not be able to recover the amount of their investment in our shares.
  • The actual value of shares that we redeem under our share redemption program, which is currently partially suspended, may be substantially less than what we pay.
  • We may only calculate the value per share for our shares annually and, therefore, our stockholders may not be able to determine the net asset value of their shares on an ongoing basis.
  • The offering price of our shares may not be indicative of the price at which our shares would trade if they were actively traded.
  • We may be unable to pay or maintain cash distributions or increase distributions over time.
  • The Series B Convertible Preferred Stock rank senior to all classes or series of stock in our company, and therefore, any cash we have to pay distributions may be used to pay distributions to the Series B Preferred Investor first, which could have a negative impact on our ability to pay distributions to you.
The other 65 risks
  • The Series D Preferred Units rank senior to all common units in our operating partnership, as well as the Series E Preferred Stock, and therefore, any cash we have to pay distributions may be used to pay distributions to the Series D Preferred Investor first, which could have a negative impact on our ability to pay distributions to you.
  • The Series E Preferred Stock rank senior to all classes or series of common stock in our company, and therefore, any cash we have to pay distributions may be used to pay distributions to the Series E Preferred Investors first, which could have a negative impact on our ability to pay distributions to you.
  • The value of a share of our common stock may be diluted if we issue a stock distribution.
  • As a result of our sponsor paying the front-end load pursuant to the Sponsor Funding Agreement and the ultimate conversion of the Series C Units to be issued to the sponsor into Class A Units, the holders of the Class W shares and Class Z shares would suffer more dilution than holders of the Class T shares and Class Y shares relative to shares that were or could have been sold previously through RIAs net of the front-end load resulting in a gross-up of shares.
  • If we, through our Advisor, are unable to find suitable investments, then we may not be able to achieve our investment objectives or continue to pay distributions.
  • We may suffer from delays in locating suitable investments, which could adversely affect our ability to make distributions and the value of stockholders’ investments.
  • If any of our Sponsor, Advisor, or Property Manager lose or are unable to retain their executive officers, then our ability to implement our investment objectives could be delayed or hindered, which could adversely affect our ability to make distributions and the value of an investment in us.
  • Our ability to operate profitably will depend upon the ability of our Advisor to efficiently manage our day-to-day operations and the ability of our Property Manager and affiliates of our Advisor to effectively manage our properties.
  • We do not own or control the intellectual property rights to the “SmartStop® Self Storage” brand and other trademarks and intellectual property that we expect to use in connection with our properties; therefore, we could potentially lose revenues and incur significant costs if we cease to operate under this brand.
  • We are an “emerging growth company” under the federal securities laws and will be subject to reduced public company reporting requirements.
  • We may utilize a portion of the proceeds of our offerings to fund the development or purchase of income-producing and growth self storage properties (whether through loans, preferred equity investments, or otherwise), and we may invest in mortgage or other loans, but if these loans and investments are not fully repaid, the resulting losses could reduce the value of a stockholder’s investment.
  • Government regulation of investment advice could have a negative impact on our ability to raise capital.
  • Risks Related to Conflicts of Interest
  • Our Advisor, Property Manager, and their officers and certain of our key personnel will face competing demands relating to their time, and this may cause our operating results to suffer.
  • Our executive officers and one of our directors face conflicts of interest related to the positions they hold with affiliated entities, which could hinder our ability to successfully implement our investment objectives and to generate returns to stockholders.
  • Our Advisor will face conflicts of interest relating to the purchase of properties, including conflicts with SmartStop, SSGT III and SST X, and such conflicts may not be resolved in our favor, which could adversely affect our investment opportunities.
  • We may face a conflict of interest if we purchase properties from affiliates of our Advisor.
  • We may face a conflict of interest if we sell properties to affiliates of our Advisor.
  • Our Advisor and its affiliates will face conflicts of interest relating to the Series C Units and the incentive fee structure under our operating partnership agreement, which could result in actions that are not necessarily in the long-term best interests of our stockholders.
  • Our Advisor will face conflicts of interest relating to joint ventures that we may form with affiliates of our Advisor, which conflicts could result in a disproportionate benefit to other joint venture partners at our expense.
  • There is no separate counsel for us and our affiliates, which could result in conflicts of interest.
  • Risks Related to Our Corporate Structure
  • The limit on the number of shares a person may own may discourage a takeover that could otherwise result in a premium price to our stockholders.
  • Our charter permits our board of directors to issue stock with terms that may subordinate the rights of common stockholders or discourage a third party from acquiring us in a manner that might result in a premium price to our stockholders.
  • We will not be afforded the protections of Maryland law relating to control share acquisitions and business combinations.
  • SSA may receive economic benefits from its status as a special limited partner without bearing any of the investment risk.
  • A stockholders’ investment return may be reduced if we are required to register as an investment company under the Investment Company Act of 1940; if we become an unregistered investment company, we will not be able to continue our business.
  • Stockholders are bound by the majority vote on matters on which our stockholders are entitled to vote and, therefore, a stockholder vote on a particular matter may be superseded by the vote of other stockholders.
  • Our stockholders have limited control over changes in our policies and operations and may not be able to change such policies and operations, except as provided for in our charter and under applicable law.
  • Our rights and the rights of our stockholders to recover claims against our officers, directors, and our Advisor are limited, which could reduce our stockholders’ and our recovery against them if they cause us to incur losses.
  • Our board of directors may change any of our investment objectives without our stockholders’ consent, including our focus on income-producing and growth self storage properties.
  • Our stockholders’ interests in us will be diluted as we issue additional shares.
  • Payment of fees to our Advisor and its affiliates will reduce cash available for investment and distribution. There are a number of such fees that may have to be paid and certain fees may be added or the amounts increased without stockholder approval.
  • We are uncertain of our sources of debt or equity for funding our future capital needs. If we cannot obtain funding on acceptable terms, our ability to make necessary capital improvements to our properties, pay other expenses, or expand our business may be impaired or delayed.
  • Risks Related to the Self Storage Industry
  • The growth portion of our property acquisition strategy involves a higher risk of loss than more conservative investment strategies.
  • Because we are focused on the self storage industry, our rental revenues will be significantly influenced by demand for self storage space generally, and a decrease in such demand would likely have a greater adverse effect on our rental revenues than if we owned a more diversified real estate portfolio.
  • We face significant competition in the self storage industry, which may increase the cost of acquisitions or developments or impede our ability to retain customers or re-let space when existing customers vacate.
  • The acquisition of new properties may give rise to difficulties in predicting revenue potential.
  • We may be unable to promptly re-let units within our facilities at satisfactory rental rates.
  • We may not be successful in identifying and consummating suitable acquisitions, or integrating and operating acquired properties, which may adversely impact our growth and results of operations.
  • We depend on our property manager’s on-site personnel to maximize customer satisfaction at each of our facilities, and any difficulties our property manager encounters in hiring, training, and retaining skilled field personnel may adversely affect our rental revenues.
  • Legal claims related to moisture infiltration and mold could arise in one or more of our properties, which could adversely affect our revenues.
  • Delays in development and lease-up of our properties would reduce our profitability.
  • The risks associated with storage contents may increase our operating costs or expose us to potential liability that may not be covered by insurance, which may have adverse effects on our business, financial condition, and results of operations.
  • Our operating results may be affected by regulatory changes that have an adverse impact on our specific facilities, which may adversely affect our business, financial condition, and results of operations.
  • General Risks Related to Investments in Real Estate
  • Our operating results will be affected by economic and regulatory changes that have an adverse impact on the real estate market in general, and we cannot assure stockholders that we will be profitable or that we will realize growth in the value of our real estate properties.
  • We may suffer reduced or delayed revenues for, or have difficulty selling, properties with vacancies.
  • Our operating results may be negatively affected by our construction and development activities, whether as a result of an increased cost of labor and materials, or increased costs and risks associated with potential development and construction delays, each of which could diminish the return on a stockholder’s investment.
  • We may obtain only limited warranties when we purchase a property.
  • If we enter into non-compete agreements with the sellers of the properties that we acquire, and the terms of those agreements expire, the sellers may compete with us within the general location of one of our properties, which could have an adverse effect on our operating results and returns to our stockholders.
  • Costs of complying with governmental laws and regulations, including those relating to environmental matters, may adversely affect our income and the cash available for distribution.
  • Costs of complying with governmental laws and regulations, including those relating to regulations accommodating disabilities, may affect cash available for distribution.
  • Our inability to sell a property when we desire to do so could adversely impact our ability to pay cash distributions to our stockholders.
  • We may not be able to sell our properties at a price equal to, or greater than, the price for which we purchased such properties, which may lead to a decrease in the value of our assets.
  • We may acquire or finance properties with lock-out provisions, which may prohibit us from selling a property, or may require us to maintain specified debt levels for a period of years on some properties.
  • If we sell properties by providing financing to purchasers, defaults by the purchasers would adversely affect our cash flows.
  • Rising expenses could reduce cash flow and funds available for future acquisitions.
  • If we suffer losses that are not covered by insurance or that are in excess of insurance coverage, we could lose invested capital and anticipated profits.
  • Delays in the acquisition, development, and construction of properties may have adverse effects on our results of operations and returns to our stockholders.
  • Increases in interest rates may adversely affect the demand for our shares.
  • Property taxes may increase, which will adversely affect our net operating income and cash available for distributions.
  • We will be subject to risks associated with joint venture partners in joint venture arrangements that otherwise may not be present in other real estate investments.
  • Investments in properties or other real estate investments outside the United States subject us to foreign currency risks, which may adversely affect distributions and our REIT status.
  • Changes in the Canadian Dollar/USD exchange rate could have a material adverse effect on our operating results and value of the investment of our stockholders.
  • We are subject to additional risks as a result of any joint venture interest or properties we acquire in Canada.
  • Changes in U.S. trade policy, including significant tariffs or other restrictions imposed on imports by the U.S. and related countermeasures taken by impacted foreign countries, could have a material adverse effect on our business.

Legal proceedings

From time to time, we are party to legal, regulatory and other proceedings that arise in the ordinary course of our business. In accordance with applicable accounting guidance, management accrues an estimated liability when those matters present loss contingencies that are both probable and reasonably estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. We are not aware of any such proceedings of which the outcome is reasonably likely to have a material adverse effect on our results of operations or financial condition.

The opening of Item 3, Legal Proceedings.5

Sources

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