$SGST

Strategic Storage Trust VI, Inc.

CIK:0001852575|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Self storage rental revenue	$ 7,988,252	$ 7,612,852	$ 15,768,198	$ 14,916,493
Ancillary operating revenue	55,025	57,788	99,892	103,505
Total revenues	8,043,277	7,670,640	15,868,090	15,019,998
Operating expenses:
Property operating expenses	3,041,344	2,831,451	6,278,829	5,770,531
Property operating expenses – affiliates	1,373,546	1,331,452	2,735,708	2,571,719
General and administrative	1,738,455	1,678,129	3,253,205	3,381,937
Depreciation	3,368,222	3,280,079	6,661,010	6,398,481
Acquisition expense - affiliates	102,754	104,656	231,034	212,532
Other property acquisition expenses	522,008	43,058	632,807	57,078
Total operating expenses	10,146,329	9,268,825	19,792,593	18,392,278
Operating loss	(2,103,052)	(1,598,185)	(3,924,503)	(3,372,280)
Other income (expense):
Interest expense	(4,329,714)	(4,176,197)	(8,461,813)	(8,283,492)
Interest expense - debt issuance costs	(161,698)	(180,518)	(321,550)	(668,915)
Derivative fair value adjustment	0	0	0	(531,449)
Other income, net	19,212	(9,829)	41,122	69,183
Equity in loss of unconsolidated real estate ventures	(747,544)	(385,074)	(1,561,373)	(607,602)
Foreign currency adjustment	(2,143,430)	3,304,699	(3,873,704)	3,108,763
Net loss	(9,466,226)	(3,045,104)	(18,101,821)	(10,285,792)
Less: Distributions to preferred unitholders in our Operating Partnership	(530,833)	0	(1,055,833)	0
Less: Distributions to preferred stockholders	(3,134,249)	(3,122,671)	(6,222,605)	(6,211,027)
Net loss attributable to the noncontrolling interests in our Operating Partnership	188,023	60,396	360,591	213,131
Net loss attributable to Strategic Storage Trust V1, Inc. common stockholders	$ (12,943,285)	$ (6,107,379)	$ (25,019,668)	$ (16,283,688)
Class P Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	11,537,218	11,409,948	11,509,451	11,385,103
Weighted average shares outstanding - diluted	11,537,218	11,409,948	11,509,451	11,385,103
Class A Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	3,285,496	3,409,389	3,274,871	3,369,755
Weighted average shares outstanding - diluted	3,285,496	3,409,389	3,274,871	3,369,755
Class T Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	5,488,698	5,405,833	5,475,377	5,396,180
Weighted average shares outstanding - diluted	5,488,698	5,405,833	5,475,377	5,396,180
Class W Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	727,087	712,450	725,081	709,961
Weighted average shares outstanding - diluted	727,087	712,450	725,081	709,961
Class Y Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	5,518,408	5,068,605	5,499,831	4,721,402
Weighted average shares outstanding - diluted	5,518,408	5,068,605	5,499,831	4,721,402
Class Z Common Stock
Other income (expense):
Net loss per share-basic	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Net loss per share-diluted	$ (0.48)	$ (0.23)	$ (0.92)	$ (0.63)
Weighted average shares outstanding - basic	580,900	480,721	579,546	424,038
Weighted average shares outstanding - diluted	580,900	480,721	579,546	424,038

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (18,101,821)	$ (10,285,792)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation	6,661,010	6,398,481
Amortization of debt issuance costs	321,550	544,111
Stock based compensation expense related to issuance of restricted stock	21,746	21,954
Equity in loss of unconsolidated real estate ventures	1,561,373	607,602
Unrealized derivative gain	913,169	218,241
Derivative fair value adjustment		410,657
Unrealized foreign currency adjustment	3,873,704	(3,108,763)
Changes in operating assets and liabilities:
Other assets, net	(550,276)	354,725
Settlement of interest rate derivative		(2,030,731)
Purchase of interest rate derivative	(1,122,401)
Accounts payable and accrued liabilities	730,106	629,036
Due to affiliates	8,307,299	4,864,206
Net cash provided by (used in) operating activities	2,615,459	(1,376,273)
Cash flows from investing activities:
Additions to real estate facilities	(4,524,091)	(5,487,439)
Investment in company owned life insurance		(887,387)
Investments in unconsolidated real estate ventures	(718,579)	(2,562,445)
Return of capital on investments in unconsolidated real estate ventures	6,367,664
Net cash provided by (used in) investing activities	1,124,994	(8,937,271)
Cash flows from financing activities:
Proceeds from issuance of secured debt	5,588,659	173,028,608
Repayment of secured debt		(164,753,059)
Scheduled principal payments of secured debt	(1,299,331)	(881,005)
Debt issuance costs		(1,805,431)
Gross proceeds from issuance of common stock		15,170,192
Offering costs	(326,444)	(1,809,770)
Proceeds from issuance of Series C units		573,002
Redemption of common stock	(288,867)	(674,336)
Series E Preferred stock issuance costs	(110,692)
Distributions paid to common stockholders	(4,469,814)	(4,194,779)
Distributions paid to noncontrolling interest in our Operating Partnership	(170,045)	(169,886)
Distributions paid to preferred stockholders	(6,250,714)	(6,236,717)
Net cash provided by (used in) financing activities	(6,350,248)	8,246,819
Impact of foreign exchange rate changes on cash and restricted cash	(71,565)	671,828
Net change in cash, cash equivalents and restricted cash	(2,681,360)	(1,394,897)
Cash, cash equivalents and restricted cash, beginning of period	9,918,161	17,565,564
Cash, cash equivalents and restricted cash, end of period	7,236,801	16,170,667
Supplemental disclosures and non-cash transactions:
Cash paid for interest, net of amounts capitalized	8,756,932	6,821,587
Offering costs included in accounts payable and accrued liabilities		(882,357)
Other assets in due to affiliates	725,753
Interest rate swap contract in other assets	161,535	1,234,991
Interest rate swap contracts in accounts payable and accrued liabilities	171,871	371,144
Foreign currency hedge contract in other assets		1,190,074
Foreign currency translation adjustment	(1,453,069)	2,475,802
Issuance of shares pursuant to distribution reinvestment plan	3,337,776	3,271,464
Distributions payable to common and preferred stockholders	5,487,597	4,405,393
Distributions payable to noncontrolling interests in our Operating Partnership	28,029	28,029
Real estate and construction in process in accounts payable and accrued liabilities	885,307	1,834,367
Series E Preferred stock issuance costs in due to affiliates	348,381
Redemption of common stock in accounts payable and accrued liabilities	75,000	$ 3,106,935
Series E Preferred Stock
Cash flows from financing activities:
Gross proceeds from issuance of Series E preferred stock	$ 977,000

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Real estate facilities:
Land	$ 109,924,077	$ 112,763,319
Buildings	393,165,839	385,675,015
Site improvements	14,110,426	14,075,173
Real estate investment property, net	517,200,342	512,513,507
Accumulated depreciation	(46,905,500)	(41,047,473)
Real estate investment property, net of accumulated depreciation	470,294,842	471,466,034
Construction in process	9,680,332	20,888,613
Real estate facilities, net	479,975,174	492,354,647
Cash and cash equivalents	6,064,283	8,801,019
Restricted cash	1,172,518	1,117,142
Investments in unconsolidated real estate ventures (Note 4)	16,675,456	24,512,945
Other assets, net	9,934,639	7,655,431
Total assets	513,822,070	534,441,184
LIABILITIES, TEMPORARY EQUITY AND EQUITY (DEFICIT)
Debt, net	291,714,583	292,908,254
Accounts payable and accrued liabilities	9,790,466	9,610,514
Distributions payable	5,685,794	4,679,935
Due to affiliates	13,995,545	4,674,857
Total liabilities	321,186,388	311,873,560
Commitments and contingencies (Note 10)
Strategic Storage Trust VI, Inc.:
Preferred Stock, $0.001 par value; 200,000,000 shares authorized; none issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	222,033,936	222,010,592
Distributions	(55,285,593)	(47,498,935)
Accumulated deficit	(172,984,833)	(147,963,237)
Accumulated other comprehensive loss	(4,906,458)	(4,762,249)
Total Strategic Storage Trust IV, Inc. equity (deficit)	(11,115,727)	21,813,084
Noncontrolling interests in our Operating Partnership	(1,144,179)	(611,660)
Noncontrolling Series C Subordinated Units in our Operating Partnership	5,076,565	5,076,565
Total noncontrolling interest	3,932,386	4,464,905
Total equity(deficit)	(7,183,341)	26,277,989
Total liabilities, temporary equity and equity(deficit)	513,822,070	534,441,184
Series B Convertible Preferred Stock
LIABILITIES, TEMPORARY EQUITY AND EQUITY (DEFICIT)
Temporary equity, carrying amount	148,599,723	148,599,723
Series D Preferred Units
LIABILITIES, TEMPORARY EQUITY AND EQUITY (DEFICIT)
Temporary equity, carrying amount	34,626,688	34,626,688
Series E Redeemable 8% Preferred Stock
LIABILITIES, TEMPORARY EQUITY AND EQUITY (DEFICIT)
Temporary equity, carrying amount	361,586	0
Class P Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	11,568	11,457
Class A Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	3,301	3,253
Class T Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	5,502	5,446
Class W Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	729	720
Class Y Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	5,539	5,460
Class Z Common Stock
Strategic Storage Trust VI, Inc.:
Common stock, value	582	577
Redeemable Common Stock
LIABILITIES, TEMPORARY EQUITY AND EQUITY (DEFICIT)
Temporary equity, carrying amount	$ 16,231,026	$ 13,063,224