SmartStop Self Storage REIT, Inc. announced that it entered into an amended and restated multi-currency revolving credit facility (the ?Credit Facility?) of up to $650 million with a syndicate of banks led by KeyBank National Association, Bank of Montreal, JPMorgan Chase Bank, N.A., M&T Bank, Truist Bank and Wells Fargo Bank, N.A. The facility has an accordion feature permitting expansion of the Credit Facility up to $1.5 billion, subject to certain conditions. The Credit Facility has a three-year term with a maturity date of February 22, 2027 and a one-year extension option. Borrowings under the Credit Facility may be in either U.S. dollars or Canadian dollars at SmartStop?s election.

Initial advances under the Credit Facility bear interest at a consistent pricing grid as the previous revolving credit facility. The Credit Facility is secured by a pledge of equity interests in certain of SmartStop?s property owning subsidiaries. SmartStop can elect to release the pledges upon the achievement of certain financial conditions, making the Credit Facility fully unsecured and resulting in a reduction in the applicable credit spread, among other changes.

KeyBanc Capital Markets, Inc., BMO Capital Markets Corp, JPMorgan Chase Bank, N.A., Manufacturers and Traders Trust Company, Truist Securities, Inc. and Wells Fargo Securities acted as Joint Book Runners and Joint Lead Arrangers for the Credit Facility. Bank of Montreal, JPMorgan Chase Bank, N.A., Manufacturers and Traders Trust Company, Truist Bank and Wells Fargo Bank, N.A. served as Syndication Agents for the Credit Facility. The Huntington National Bank, Raymond James Bank and U.S. Bank National Association served as Documentation Agents for the Credit Facility.

KeyBank National Association served as Administrative Agent for the Credit Facility.