Smartstop Self Storage Reit, Inc. · NYSE:SMA
Smartstop Self Storage Reit — Strategic Storage Trust II — Q3 2018 Earnings Presentation
22 slides from Smartstop Self Storage Reit's earnings presentation, Dec 11, 2018
Slide 1: Third Quarter Update
Third Quarter Update Strategic Storage Trust II, Inc. H. Michael Schwartz – Founder, Chairman & CEO Exhibit 99.1
Slide 2: Disclaimer & Risk Factors
Disclaimer & Risk Factors This investor presentation may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identi
Slide 3: Additional Information Regarding NOI, FFO & MFFO
Additional Information Regarding NOI, FFO & MFFO Funds from Operations (“FFO”) and Modified Funds from Operations (“MFFO”) Due to certain unique operating characteristics of real estate companies, the National Association of Real Estate Investment Trusts, or NAREIT, an industry trade group, has prom
Slide 4: Additional Information Regarding NOI, FFO & MFFO
Additional Information Regarding NOI, FFO & MFFO Prior to January 1, 2018, when SST II adopted new accounting guidance, such costs were entirely expensed as operating expenses under GAAP. Subsequent to January 1, 2018, certain of such costs continue to be expensed. SST II believes these fees and exp
Slide 5: Additional Information Regarding NOI, FFO & MFFO
Additional Information Regarding NOI, FFO & MFFO Further, under GAAP, certain contemplated non-cash fair value and other non-cash adjustments are considered operating non-cash adjustments to net income (loss) in determining cash flows from operations. In addition, SST II views fair value adjustments
Slide 6: Strategic Storage Growth Trust, Inc. Merger Risk Factors & Other Information
Strategic Storage Growth Trust, Inc. Merger Risk Factors & Other Information Additional Information and Where to Find It In connection with the proposed transaction, SSGT has filed with the Securities and Exchange Commission (the “SEC”) and mailed or otherwise provided to its stockholders a proxy st
Slide 7: Strategic Storage Trust II, Inc. Greater Than 75% Portfolio Occupancy
Strategic Storage Trust II, Inc. Greater Than 75% Portfolio Occupancy Institutional Management Strong Market Demographics
Slide 8: SmartStop Self Storage – Pickering, Canada
Strategic Storage Trust II, Inc. Greater Than 75% Portfolio Occupancy SmartStop® Self Storage – Pickering, Canada Targeting facilities with strong physical occupancy Potentially under occupied economically, increasing future cash flows Existing management unable to boost occupancy Management and mar
Slide 9: SST II Current Portfolio As Of 9/30/2018
SST II Current Portfolio As Of 9/30/2018 $840 Million Portfolio* Since the launch of SST II in 2014, the REIT’s portfolio has expanded to 83 self storage properties and one joint venture development project in 14 states and Canada (Greater Toronto Area). The portfolio includes approximately 6,029,60
Slide 10: Balance Sheet and Distributions
Balance Sheet Royal Palm Beach, Florida Loan-To-Value September 30, 2018 = 47%* *Based on acquisition cost Distributions(1) SST II pays a distribution rate of approximately $0.001644 per day per share (equivalent to $0.60 per share annually) to both Class A and Class T stockholders of record. The T
Slide 11: SST II Financial Update Third Quarter 2018 vs. 2017
SST II Financial Update Third Quarter 2018 vs. 2017 Revenues Net Operating Income* Property Operating Expenses as a Percentage of Revenue Number of Facilities Average Physical Occupancy Annualized Revenue per Occupied SF (excludes parking) Same-Store Performance é 1.0% é 1.4% 2018 2017 37.1% 37.4% 8
Slide 12: SST II Financial Update Nine Months Ended September 30, 2018 vs. 2017
SST II Financial Update Nine Months Ended September 30, 2018 vs. 2017 Revenues Net Operating Income* Property Operating Expenses as a Percentage of Revenue Number of Facilities Average Physical Occupancy Annualized Revenue per Occupied SF (excludes parking) Same-Store Performance Modified FFO* MFFO
Slide 13: SST II Net Asset Value
SST II Financial Update SST II Net Asset Value Independent, 3rd Party Valuation Engaged Duff & Phelps Asset-by-Asset valuation of Real Estate (no portfolio premium) In accordance with IPA NAV Guideline See our current Report on Form 8-K filed with the SEC on April 20, 2018 for a description of the m
Slide 14: SmartStop Self Storage – Property Management
SmartStop Self Storage – Property Management* *The SmartStop® Self Storage brand is owned by our sponsor, SmartStop Asset Management, LLC.
Slide 15: SmartStop Self Storage – Branding
SmartStop Self Storage* – Branding Brand Awareness Strong, well-known brand name Brand protection Registered trademarks in U.S./Canada 125 U.S./Canadian domain names Processes in place to act upon potential brand infringement Store Branding Locations feature SmartStop signage and colors The SmartSto
Slide 16: SmartStop Self Storage – Website
SmartStop Self Storage*– Website Website SmartStop.com State-of-the-art/responsive Multi-platform views Customer-intuitive user interface Full Integration Store operating system Reservation management system Call center Search engine optimization (SEO) Search engine marketing (SEM) / pay per click (
Slide 17: Toronto Portfolio
Toronto Portfolio Toronto Canada Properties 1 4548 Dufferin St., North York, ONT M3H5R9 2 530 Martin St., Milton, ONT L9T3H6 3 1207 Appleby Ln., Burlington, ONT L7L5H9 4 2055 Cornwall Rd., Oakville, ONT L6J7S2 5 480 S. Service Rd. W., Oakville, ONT L6K2H4 6 4491 Mainway Dr., Burlington, ONT L7L5H9 7
Slide 18: Strategic Storage Growth Trust, Inc. Merger Press Release
Strategic Storage Growth Trust, Inc. Merger PRESS RELEASE LADERA RANCH, CA – October 1, 2018 – Strategic Storage Growth Trust, Inc. (“SSGT”) today announced the entry into a definitive merger agreement with Strategic Storage Trust II, Inc. (“SST II”), pursuant to which SSGT will merge with and into
Slide 19: Pro Forma Portfolio Post Merger
Strategic Storage Trust II, Inc. Pro Forma Portfolio Post Merger $1.07 Billion Portfolio* SST II’s post merger portfolio will consist of 112 properties in 17 states and Canada (Greater Toronto Area). The portfolio will include approximately 8,224,300** net rentable square feet and approximately 71,1
Slide 20: Strategic Storage Growth Trust, Inc. Merger
Strategic Storage Growth Trust, Inc. Merger
Slide 21: Public Non-Traded Self Storage REITs
NYSE: EXR NYSE: PSA NYSE: CUBE NYSE: LSI NYSE: UHAL NYSE: JCAP NYSE: NSA Public Non-Traded Self Storage REITs - OFFERING CLOSED - - OFFERING CLOSED - - OFFERING OPEN - Publicly Traded Self Storage Companies Self Storage Companies
Slide 22: Questions?
STRATEGIC STORAGE TRUST II, INC. Questions? is the sponsor of Strategic Storage Trust Il, Inc. Investor Presentation 22
Strategic Storage Trust II — Q3 2018 Earnings Presentation on 6ix