SmartStop Self Storage REIT Raises $810 Million in US IPO

SmartStop Self Storage REIT Inc. raised $810 million in an initial public offering Tuesday, pricing its shares in the bottom half of a marketed range.

The Ladera Ranch, California-based company sold 27 million shares for $30 each, according to a statement. SmartStop initially marketed 27 million shares for $28 to $36 apiece before lowering the price range to $28 to $35 on Friday.

Read: SmartStop Self Storage Seeks Up to $972 Million in NYSE Listing

At the IPO price, SmartStop has a market value of $1.54 billion based on the outstanding shares listed in its filings with the US ...