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Latham & Watkins Advises SmartStop Self Storage REIT, Inc. in US$500 Million Multi-Currency Credit Facility

March 18, 2021
A multidisciplinary California team advises the self-managed REIT in the transaction.

SmartStop Self Storage REIT, Inc. (SmartStop) announced that it entered into a multi-currency credit facility (the Credit Facility) of up to US$500 million with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A., and Bank of Montreal. The facility consists of a US$250 million revolving credit facility and a US$250 million term loan, and has an accordion feature permitting expansion of the Credit Facility up to US$850 million, subject to certain conditions.

Latham & Watkins LLP represented SmartStop in the transaction with a corporate and finance team led by Los Angeles partner Pablo Clarke and Orange County partner Hilary Shalla, with associates Haley Horton and Rychelle Andersen. Advice was also provided on tax matters by Los Angeles partner Pardis Zomorodi.