Strategic Storage Trust VI, Inc. Annual Report: A Simple Guide

I’ve put together this guide to help you understand how Strategic Storage Trust VI, Inc. (SSTVI) performed this year. My goal is to cut through the financial jargon so you can decide if this investment fits your goals.

1. What does this company do?

Think of SSTVI as a landlord for your extra stuff. They own and operate self-storage facilities across the U.S. and Canada. They are a Real Estate Investment Trust (REIT), which means they pool money from investors to buy properties and share the rental income with you. By the end of 2025, they managed about 1.8 million square feet of space for over 15,000 tenants.

2. Financial Performance & Health

The company is growing, but this growth relies on debt and complex financing structures.

• Expansion: By late 2025, they owned 24 properties and had two more under development. They also maintain a 50/50 partnership for five properties in Canada. The total value of their portfolio grew from $390 million to $485 million this year.
• Share Classes: The company uses six different classes of stock (A, P, T, W, Y, and Z). Your experience depends on which class you hold, as each carries different fee structures. They finished their main fundraising in May 2025, raising $210 million, though they continue to sell shares through a reinvestment plan.
• Valuation: In August 2024, the board valued shares at $10.00. By September 2025, they updated this value to $10.12 per share, reflecting rising property values and an 88% occupancy rate.

3. Major Wins and Challenges

• The Win: They are growing quickly. By partnering with established firms and raising capital, they increased their footprint significantly. The portfolio brought in $32 million in rental revenue, a 14% increase from last year.
• The Challenge: The company relies on "preferred equity." They sell special shares that receive priority payments. For example, they recently issued $35 million in Series D units and launched a $75 million offering for Series E units. These pay a fixed 6.5% to 7.0% dividend, which must be paid before common shareholders see returns.

4. Key Risks

The company’s reliance on debt and outside funding creates sensitivity to market conditions. If occupancy drops by 5%, their profit could fall by $1.8 million.

Additionally, there is no public market for your shares. You cannot easily sell them if you need cash, as the company limits share buybacks to 5% of total shares per year. You are essentially locked in until the company decides to sell or go public, which they aim to do within five to seven years.

5. Future Outlook

SSTVI is focused on aggressive growth while managing new capital raises and complex partnerships. With interest rates remaining high, paying off their $220 million in debt is a primary focus, currently consuming about 40% of their operating profit.

Is this right for you? When considering this investment, ask yourself if you are comfortable with a long-term commitment where your money is tied up for several years. Because the company prioritizes payments to preferred shareholders and carries significant debt, your potential returns depend heavily on their ability to keep occupancy high and successfully exit the investment in the future. If you prioritize liquidity or want to avoid exposure to high debt levels, you may want to look for other opportunities.