Ladera Ranch, Calif., Dec 29, 2025 — SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the acquisition of a 1.78-acre land parcel in Toronto, Ontario, for the planned development of a Class A self-storage facility. SmartStop will undertake the development in partnership with SmartCentres (TSX: SRU.UN).
The site at 1125 Finch Ave is located approximately nine miles north of downtown Toronto and one mile southeast of York University, placing it squarely within one of the most densely populated and supply-constrained trade areas in the city. An estimated 1 million residents live within a five-mile radius, supported by sustained residential density and limited availability of modern self-storage facilities. These fundamentals underpin durable, long-term demand and create a significant barrier to entry for new competitors.
The proposed development will consist of a four-story, state-of-the-art self-storage facility totaling approximately 100,000 net rentable square feet, comprising approximately 1,100 climate-controlled units. The facility is designed to capture unmet demand in a market characterized by strong absorption, constrained land availability, and high replacement costs.
Construction is scheduled to commence in the fourth quarter of 2026, with a planned soft opening in the fourth quarter of 2027. Upon completion, the facility will serve the established neighborhoods of York University Heights, Downsview, Black Creek, Humbermede, Glen Park, and Emery, further solidifying SmartStop’s position as a dominant self-storage operator in the Greater Toronto Area.
“This acquisition underscores our commitment to disciplined growth in supply-constrained, top-tier urban markets with compelling demographic trends,” said H. Michael Schwartz, Chief Executive Officer of SmartStop Self Storage REIT, Inc. “By partnering with SmartCentres, we are advancing a premier self-storage development that expands our Canadian footprint and positions us to capture long-term value in a high-growth market.”