Strategic Storage Trust X (SST X) has announced the acquisition of its first operational asset, positioning itself strategically in the self‑storage sector.

Asset Acquisition and Market Context

SST X, a private entity intended to qualify as a real‑estate investment trust (REIT), under the sponsorship of an affiliate of SmartStop Self Storage REIT, Inc. (NYSE: SMA), has acquired a self‑storage facility located at 1323 NW Broad Street, Murfreesboro, Tennessee.
The property was purchased by SST X from SmartStop, which acquired it in February 2025 with the express intention of transferring it to SST X.
The facility comprises approximately 62,100 net rentable square feet and around 470 storage units, including roughly 380 drive‑up units and about six RV units — distributed across twelve single‑storey buildings.
Its location lies within a vibrant commercial corridor, benefiting from a reported daily traffic count of approximately 21,390 vehicles, which enhances visibility and ease of customer access.
Moreover, the geographic catchment is in a dynamically expanding region with an anticipated population growth of about 9.1% between 2022 and 2027 within a three‑mile radius, signalling strong demand potential for quality self‑storage solutions.

Strategic Structure and Investor Proposition

SST X is structured as a Maryland statutory trust that intends to qualify as a REIT for U.S. federal income tax purposes by no later than its taxable year ending December 31, 2025.
The investment strategy focuses on acquiring income‑producing and growth‑oriented self‑storage properties across the U.S. and Canada. As of 21 November 2025, SST X’s portfolio consists of the one operating asset described above.
Its “perpetual NAV” REIT structure is designed to offer investors long‑term exposure to a professionally managed self‑storage portfolio, valuated monthly on a net asset value basis, with no predetermined liquidation date. This model aims to deliver stable income, reduce market‑timing risk, and foster value creation over time.

Executive Commentary

H. Michael Schwartz, President and CEO of SST X, commented that the Murfreesboro property represents a landmark for the company’s debut in the self‑storage investment space. He emphasised the facility’s fit within SST X’s disciplined investment approach and its alignment with long‑term growth markets.

Sponsor Background: SmartStop Self Storage REIT

SmartStop Self Storage REIT, Inc. (NYSE: SMA) is a self‑managed REIT operating through a fully integrated team of more than 1,000 self‑storage professionals.
As of the referenced date, SmartStop and its affiliates own or manage over 460 operating properties across 34 U.S. states, the District of Columbia, and Canada, comprising approximately 270,000 units and more than 35 million rentable square feet.

Implications for Investors

For investors, SST X’s initial acquisition offers exposure to a high‑growth self‑storage asset in a favourable demographic market. The perpetual NAV structure may attract investors seeking long‑term income with reduced dependence on a set exit strategy. Meanwhile, the relationship and backing of SmartStop provide operational credibility and platform scale benefits.

In summary, the acquisition by Strategic Storage Trust X marks its entry into the self‑storage REIT space with a well‑positioned asset in Murfreesboro, Tennessee. Backed by SmartStop and structured to deliver a long‑term investment vehicle, SST X has taken a foundational step in executing its growth strategy in the self‑storage sector.