Self-Storage Investment Firm Strategic Storage Trust IV Launches $1B IPO

March 27, 2017

Self-Storage Investment Firm Strategic Storage Trust IV Launches $1B IPO

March 20, 2017 | Inside Self-Storage

Storage doors. Building interior.Industrial storage in the city. Green doors.

Strategic Storage Trust IV Inc. (SST IV), which intends to invest in self-storage and qualify as a real estate investment trust (REIT), has launched an initial public offering (IPO) of approximately $1.095 billion in common stock, according to a press release. Its registration statement regarding the IPO was declared effective on March 17 by the U.S. Securities and Exchange Commission. 

SST IV will focus on the acquisition of stabilized and growth self-storage properties in Canada and the United States, the release stated. Its primary offer of $1 billion in shares comprises three classes. Class-A shares are available for $25 per share, up to $450 million, while Class T is priced at $24.21 per share up to $450 million. Class-W shares are priced at $22.75 per share, up to $100 million. Any investor may purchase Class-A or -T shares, but Class-W shares are available only to “investors purchasing through certain fee-based programs or registered investment advisors,” the release stated.

SST IV is also offering up to $95 million in common stock pursuant to its distribution reinvestment plan at $23.75 per share for Class A, $23 per share for Class T and $22.75 per share for Class W. The company earlier commenced operation through a private offering of $7.5 million in Class-A shares.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.