SmartStop Self Storage REIT, a self-managed REIT, completed the acquisition of Strategic Storage Trust IV, a public non-traded REIT that focuses on the acquisition of stabilized and growth self storage properties, for $380m. "We are thrilled to announce the closing of this transformational deal for both SmartStop and SST IV shareholders. This merger allows us to recognize expense efficiencies and reduce borrowing costs, among other benefits, which better positions the combined company to execute on future growth plans. We've recognized some of these potential cost savings already, as we simultaneously closed a new $500 million credit facility, which was primarily used to refinance existing debt of both SmartStop and SST IV at significantly more attractive rates. With the power of the SmartStop® Self Storage platform and the tremendous team behind it, we believe the combined company will generate strong future risk-adjusted returns for our shareholders," Michael Schwartz, SmartStop Founder and Executive Chairman.