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SmartStop Self Storage REIT Inc. today announced the closing of on an $810 million public offering.
The Ladera Ranch real estate investment trust, with storage facilities in the U.S. and Canada, offered 31 million shares of its common stock at $30 per share. The underwriters also exercised their option to purchase an additional four million shares at the public offering price.
J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Truist Securities acted as joint book-running managers for the offering.
SmartStop began trading on the New York Stock Exchange under the ticker symbol “SMA” on April 2.
Shares in the company are down 2.1% to $31.51 and a $846.9 million market cap.