SmartStop Self Storage Announces Update on Store Operations Impacted by Hurricane Helene Storm Surge

By: SmartStop Self Storage REIT, Inc. via Business Wire

September 30, 2024 at 18:32 PM EDT

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, announced today that 15 properties totaling approximately 935,000 net rentable square feet and 6,600 units were temporarily closed over the weekend in Asheville, North Carolina due to impact related to Hurricane Helene. One property has suffered severe flooding and represents approximately 66,400 net rentable square feet and 390 units. Additional stores in several other markets were temporarily closed over the weekend. Several have reopened and sustained minimal damage, and others are opening as the Company ensures the safety of its buildings and employees is fully secured. The Company’s Florida properties were largely unaffected.

"Our thoughts are with all the employees, customers, and communities affected by the recent storm surge and flooding. The safety and well-being of our team and customers is our top priority, and we are doing everything we can to support those impacted,” stated H. Michael Schwartz, Chairman and CEO of SmartStop. “While this has been a challenging time, we are already seeing incredible resilience and teamwork as we begin the process of cleaning up and making necessary repairs.”

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 525 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 September 30, 2024, SmartStop has an owned or managed portfolio of 202 operating properties in 22 states and Canada, comprising approximately 142,500 units and 16.1 million rentable square feet. SmartStop and its affiliates own or manage 36 operating self-storage properties in Canada, which total approximately 31,000 units and 3.2 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.