SmartStop Self Storage REIT, Inc. Opens 40th Canadian Location With Self-Storage Facility in Kelowna, British Columbia

LADERA RANCH, Calif.--(BUSINESS WIRE)-- SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE:SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, is pleased to announce the acquisition of its 40^th Canadian location with a state-of-the-art facility in Kelowna, British Columbia.

Located at 948 Ellis Street, the facility is a five-story Class A modern development featuring approximately 74,000 net rentable square feet and approximately 800 climate-controlled units. Designed for maximum accessibility and convenience, the facility boasts two elevator access points and benefits from its high-visibility location. The facility sits in an affluent, growing area expected to see 10% population growth over the next five years, highlighting strong demand for quality self-storage options.

“We’re thrilled to make our debut in the vibrant and fast-growing Kelowna market. This acquisition represents an exciting step in our growth strategy, and we believe Kelowna’s dynamic economy, strong fundamentals, and lifestyle-driven demand make it a natural fit for our portfolio,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “We’re proud to open our doors in the Okanagan region and are committed to delivering exceptional service to the local community.”

This facility will serve the neighborhoods of Benvoulin, Rutland, Glenmore, Dilworth Mountain, Okanagan Mission, and Lakeview Heights, offering secure and accessible storage options to the growing Kelowna community.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of April 15, 2025, SmartStop has an owned or managed portfolio of 219 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 157,200 units and 17.7 million rentable square feet. SmartStop and its affiliates own or manage 40 operating self-storage properties in Canada, which total approximately 34,400 units and 3.5 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250415781862/en/

David Corak

SVP of Corporate Finance & Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Source: SmartStop Self Storage REIT, Inc.

FAQ

What is the size of SmartStop's new Kelowna self-storage facility?

The facility features 74,000 net rentable square feet with approximately 800 climate-controlled units.

How many Canadian locations does SmartStop (NYSE:SMA) now operate?

With the Kelowna acquisition, SmartStop now operates 40 locations across Canada.

What is the expected population growth in the Kelowna facility's area?

The area is expected to see 10% population growth over the next five years.

Which neighborhoods will SmartStop's new Kelowna facility serve?

The facility will serve Benvoulin, Rutland, Glenmore, Dilworth Mountain, Okanagan Mission, and Lakeview Heights neighborhoods.

What are the key features of SmartStop's new Kelowna storage facility?

The facility is a five-story Class A modern development with climate-controlled units, two elevator access points, and high visibility location.