SmartStop Self Storage REIT (STSFF) 10-Q 14 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 12, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	SmartStop Self Storage REIT, Inc.
Entity Central Index Key	0001585389
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55617
Entity Tax Identification Number	46-1722812
Entity Address, Address Line One	10 Terrace Road
Entity Address, City or Town	Ladera Ranch
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92694
City Area Code	877
Local Phone Number	327-3485
Entity Interactive Data Current	Yes
Class A Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		51,215,255
Class T Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,666,317

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Real estate facilities:
Land	$ 331,686,724	$ 269,522,776
Buildings	776,448,040	507,580,145
Site improvements	60,061,992	43,193,105
Real estate investment property, gross	1,168,196,756	820,296,026
Accumulated depreciation	(75,946,886)	(54,264,685)
Real estate investment property	1,092,249,870	766,031,341
Construction in process	10,101,266	130,383
Real estate facilities, net	1,102,351,136	766,161,724
Real estate held for sale, net	11,777,915
Cash and cash equivalents	14,088,581	10,272,020
Restricted cash	7,845,349	3,740,188
Investments in and advances to Managed REITs	5,916,084
Other assets, net	5,939,392	14,580,417
Debt issuance costs, net of accumulated amortization		36,907
Intangible assets, net of accumulated amortization	33,627,666	1,562,781
Trademarks, net of accumulated amortization	19,743,167
Goodwill	78,372,980
Total assets	1,279,662,270	796,354,037
LIABILITIES AND EQUITY
Debt, net	815,319,158	406,084,103
Accounts payable and accrued liabilities	20,906,799	7,691,990
Due to affiliates	1,442,030	2,203,837
Distributions payable	3,326,601	2,890,395
Contingent earnout	31,200,000
Deferred tax liability	7,006,005
Total liabilities	879,200,593	418,870,325
Commitments and contingencies (Note 11)
Redeemable common stock	39,839,496	32,226,815
Equity:
Preferred stock, $0.001 par value; 200,000,000 shares authorized; none issued and outstanding at September 30, 2019 and December 31, 2018	0	0
Additional paid-in capital	491,272,437	500,474,807
Distributions	(119,904,285)	(94,248,326)
Accumulated deficit	(81,658,982)	(62,340,153)
Accumulated other comprehensive income (loss)	(3,172,074)	1,390,354
Total SmartStop Self Storage REIT, Inc. equity	286,595,895	345,334,653
Noncontrolling interests in our Operating Partnership	74,004,486	(77,756)
Other noncontrolling interests	21,800
Total noncontrolling interests	74,026,286	(77,756)
Total equity	360,622,181	345,256,897
Total liabilities and equity	1,279,662,270	796,354,037
Class A Common stock
Equity:
Common stock, value	51,149	50,437
Class T Common stock
Equity:
Common stock, value	$ 7,650	$ 7,534

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	200,000,000	200,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A Common stock
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	350,000,000	350,000,000
Common Stock, shares issued	51,148,541	50,437,059
Common Stock, shares outstanding	51,148,541	50,437,059
Class T Common stock
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	350,000,000	350,000,000
Common Stock, shares issued	7,649,856	7,533,790
Common Stock, shares outstanding	7,649,856	7,533,790

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 29,588,014	$ 20,313,069	$ 79,451,856	$ 60,225,042
Operating expenses:
General and administrative	3,519,557	999,439	7,000,627	3,632,649
Depreciation	7,639,190	5,097,944	21,928,108	15,245,530
Intangible amortization expense	3,741,046	179,613	7,822,354	2,398,378
Contingent earnout expense	300,000	0	300,000	0
Self administration transaction expenses	107,100	0	1,595,371	0
Acquisition expenses – affiliates	0	16,422	84,061	42,642
Other property acquisition expenses	25,529	554,661	109,765	808,091
Total operating expenses	27,773,486	15,836,436	74,919,300	48,452,265
Operating income	1,814,528	4,476,633	4,532,556	11,772,777
Other income (expense):
Interest expense	(10,260,936)	(4,587,573)	(28,584,740)	(13,417,041)
Interest expense – accretion of fair market value of secured debt	33,191	111,383	98,850	336,894
Interest expense – debt issuance costs	(1,082,543)	(330,639)	(2,997,801)	(975,591)
Net loss on extinguishment of debt	0	0	(1,487,867)	0
Gain resulting from acquisition of unconsolidated affiliates	0	0	8,017,353	0
Other	(45,819)	(127,082)	(352,219)	(278,694)
Net loss	(9,541,579)	(457,278)	(20,773,868)	(2,561,655)
Net loss attributable to the noncontrolling Interests in our Operating Partnership	1,326,753	5,854	1,455,039	21,972
Net loss attributable to SmartStop Self Storage REIT, Inc. common stockholders	(8,214,826)	(451,424)	(19,318,829)	(2,539,683)
Self Storage Rental Revenue
Revenues:
Total revenues	25,669,615	19,796,139	74,056,235	58,784,034
Ancillary Operating Revenue
Revenues:
Total revenues	1,188,934	516,930	2,589,985	1,441,008
Managed REIT Platform Revenue
Revenues:
Total revenues	1,192,665	0	1,221,727	0
Reimbursable Costs from Managed REITs
Revenues:
Total revenues	1,536,800	0	1,583,909	0
Operating expenses:
Operating expenses	1,536,800	0	1,583,909	0
Property Operating Expenses
Operating expenses:
Operating expenses	9,655,599	6,416,687	26,630,201	18,637,792
Property Operating Expenses – Affiliates
Operating expenses:
Operating expenses	0	2,571,670	6,605,670	7,687,183
Managed REIT Platform Expenses
Operating expenses:
Operating expenses	$ 1,248,665	$ 0	$ 1,259,234	$ 0
Class A Common stock
Other income (expense):
Net loss per share-basic and diluted	$ (0.14)	$ (0.01)	$ (0.33)	$ (0.04)
Weighted average shares outstanding-basic and diluted	50,789,174	49,948,074	50,650,524	49,732,757
Class T Common stock
Other income (expense):
Net loss per share-basic and diluted	$ (0.14)	$ (0.01)	$ (0.33)	$ (0.04)
Weighted average shares outstanding-basic and diluted	7,626,158	7,461,101	7,584,645	7,418,129

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (9,541,579)	$ (457,278)	$ (20,773,868)	$ (2,561,655)
Other comprehensive income (loss):
Foreign currency translation adjustment	(651,011)	1,343,451	1,408,709	(2,061,322)
Foreign currency hedge contract gains (losses)	(84,696)	(1,083,267)	(1,970,862)	2,431,232
Interest rate swap and cap contract gains (losses)	(823,250)	(5,139)	(4,000,275)	504,393
Other comprehensive income (loss)	(1,558,957)	255,045	(4,562,428)	874,303
Comprehensive loss	(11,100,536)	(202,233)	(25,336,296)	(1,687,352)
Comprehensive loss attributable to noncontrolling interests:
Comprehensive loss attributable to the noncontrolling interests in our Operating Partnership	1,543,525	2,589	1,774,600	14,473
Comprehensive loss attributable to SmartStop Self Storage REIT, Inc. common stockholders	$ (9,557,011)	$ (199,644)	$ (23,561,696)	$ (1,672,879)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($)	Total	Redeemable Common Stock	Common StockClass A Common stock	Common StockClass T Common stock	Additional Paid-in Capital [Member]	Distributions [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Strategic Storage Trust II, Inc. Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2017	$ 382,938,024	$ 24,497,059	$ 49,386	$ 7,351	$ 496,287,890	$ (60,561,504)	$ (58,641,776)	$ 1,369,208	$ 378,510,555	$ 4,427,469
Beginning Balance (in shares) at Dec. 31, 2017			49,386,092	7,350,142
Offering costs	(1,973)	0	$ 0	$ 0	(1,973)	0	0	0	(1,973)	0
Changes to redeemable common stock	(3,970,960)	3,970,960	0	0	(3,970,960)	0	0	0	(3,970,960)	0
Redemptions of common stock	(72)	(1,126,591)	$ (69)	$ (3)	0	0	0	0	(72)	0
Redemptions of common stock (in shares)			(69,411)	(2,640)
Distributions	(8,238,414)	0	$ 0	$ 0	0	(8,238,414)	0	0	(8,238,414)	0
Distributions to noncontrolling interests	(74,446)	0	0	0	0	0	0	0	0	(74,446)
Issuance of shares for distribution reinvestment plan	3,971,349	0	$ 337	$ 52	3,970,960	0	0	0	3,971,349	0
Issuance of shares for distribution reinvestment plan (in shares)			337,155	51,602
Stock compensation expense	14,968	0	$ 0	$ 0	14,968	0	0	0	14,968	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(661,203)	0	0	0	0	0	(661,203)	0	(661,203)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(5,844)	0	0	0	0	0	0	0	0	(5,844)
Foreign currency translation adjustment	(2,059,805)	0	0	0	0	0	0	(2,059,805)	(2,059,805)	0
Foreign currency forward contract gains (loss)	2,073,290	0	0	0	0	0	0	2,073,290	2,073,290	0
Interest rate swap contract gain and cap contract gains (loss)	437,629	0	0	0	0	0	0	437,629	437,629	0
Ending Balance at Mar. 31, 2018	374,422,543	27,341,428	$ 49,654	$ 7,400	496,300,885	(68,799,918)	(59,302,979)	1,820,322	370,075,364	4,347,179
Ending Balance (in shares) at Mar. 31, 2018			49,653,836	7,399,104
Beginning Balance at Dec. 31, 2017	382,938,024	24,497,059	$ 49,386	$ 7,351	496,287,890	(60,561,504)	(58,641,776)	1,369,208	378,510,555	4,427,469
Beginning Balance (in shares) at Dec. 31, 2017			49,386,092	7,350,142
Net loss attributable to SmartStop Self Storage REIT, Inc.	(2,539,683)
Net loss attributable to the noncontrolling interests in our Operating Partnership	(21,972)
Foreign currency hedge contract gains (losses)	2,431,232
Interest rate swap contract gain and cap contract gains (loss)	504,393
Ending Balance at Sep. 30, 2018	355,955,261	29,559,784	$ 50,091	$ 7,485	496,325,862	(85,669,907)	(61,181,459)	2,243,511	351,775,583	4,179,678
Ending Balance (in shares) at Sep. 30, 2018			50,090,692	7,484,880
Beginning Balance at Dec. 31, 2017	382,938,024	24,497,059	$ 49,386	$ 7,351	496,287,890	(60,561,504)	(58,641,776)	1,369,208	378,510,555	4,427,469
Beginning Balance (in shares) at Dec. 31, 2017			49,386,092	7,350,142
Ending Balance at Dec. 31, 2018	345,256,897	32,226,815	$ 50,437	$ 7,534	500,474,807	(94,248,326)	(62,340,153)	1,390,354	345,334,653	(77,756)
Ending Balance (in shares) at Dec. 31, 2018			50,437,059	7,533,790
Beginning Balance at Mar. 31, 2018	374,422,543	27,341,428	$ 49,654	$ 7,400	496,300,885	(68,799,918)	(59,302,979)	1,820,322	370,075,364	4,347,179
Beginning Balance (in shares) at Mar. 31, 2018			49,653,836	7,399,104
Offering costs	(2,357)	0	$ 0	$ 0	(2,357)	0	0	0	(2,357)	0
Changes to redeemable common stock	(4,031,062)	4,031,062	0	0	(4,031,062)	0	0	0	(4,031,062)	0
Redemptions of common stock	(122)	(1,212,332)	$ (110)	$ (12)	0	0	0	0	(122)	0
Redemptions of common stock (in shares)			(109,624)	(12,499)
Issuance of restricted stock	11	0	$ 11	$ 0	0	0	0	0	11	0
Issuance of restricted stock (in shares)			10,500	0
Distributions	(8,370,146)	0	$ 0	$ 0	0	(8,370,146)	0	0	(8,370,146)	0
Distributions to noncontrolling interests	(75,273)	0	0	0	0	0	0	0	0	(75,273)
Issuance of shares for distribution reinvestment plan	4,031,446	0	$ 333	$ 51	4,031,062	0	0	0	4,031,446	0
Issuance of shares for distribution reinvestment plan (in shares)			332,758	51,178
Stock compensation expense	14,968	0	$ 0	$ 0	14,968	0	0	0	14,968	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(1,427,056)	0	0	0	0	0	(1,427,056)	0	(1,427,056)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(10,274)	0	0	0	0	0	0	0	0	(10,274)
Foreign currency translation adjustment	(1,344,967)	0	0	0	0	0	0	(1,344,967)	(1,344,967)	0
Foreign currency forward contract gains (loss)	1,441,209	0	0	0	0	0	0	1,441,209	1,441,209	0
Interest rate swap contract gain and cap contract gains (loss)	71,903	0	0	0	0	0	0	71,903	71,903	0
Ending Balance at Jun. 30, 2018	364,720,823	30,160,158	$ 49,888	$ 7,439	496,313,496	(77,170,064)	(60,730,035)	1,988,467	360,459,191	4,261,632
Ending Balance (in shares) at Jun. 30, 2018			49,887,470	7,437,783
Offering costs	(11,034)	0	$ 0	$ 0	(11,034)	0	0	0	(11,034)	0
Changes to redeemable common stock	(4,039,502)	4,039,502	0	0	(4,039,502)	0	0	0	(4,039,502)	0
Redemptions of common stock	(130)	(4,639,876)	$ (126)	$ (4)	0	0	0	0	(130)	0
Redemptions of common stock (in shares)			(125,637)	(3,376)
Distributions	(8,499,843)	0	$ 0	$ 0	0	(8,499,843)	0	0	(8,499,843)	0
Distributions to noncontrolling interests	(76,100)	0	0	0	0	0	0	0	0	(76,100)
Issuance of shares for distribution reinvestment plan	4,039,881	0	$ 329	$ 50	4,039,502	0	0	0	4,039,881	0
Issuance of shares for distribution reinvestment plan (in shares)			328,859	50,473
Stock compensation expense	23,400	0	$ 0	$ 0	23,400	0	0	0	23,400	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(451,424)	0	0	0	0	0	(451,424)	0	(451,424)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(5,854)	0	0	0	0	0	0	0	0	(5,854)
Foreign currency translation adjustment	1,343,450	0	0	0	0	0	0	1,343,450	1,343,450	0
Foreign currency forward contract gains (loss)	(1,083,267)	0	0	0	0	0	0	(1,083,267)	(1,083,267)	0
Foreign currency hedge contract gains (losses)	(1,083,267)
Interest rate swap contract gain and cap contract gains (loss)	(5,139)	0	0	0	0	0	0	(5,139)	(5,139)	0
Ending Balance at Sep. 30, 2018	355,955,261	29,559,784	$ 50,091	$ 7,485	496,325,862	(85,669,907)	(61,181,459)	2,243,511	351,775,583	4,179,678
Ending Balance (in shares) at Sep. 30, 2018			50,090,692	7,484,880
Net loss attributable to SmartStop Self Storage REIT, Inc.	(1,158,694)
Ending Balance at Dec. 31, 2018	345,256,897	32,226,815	$ 50,437	$ 7,534	500,474,807	(94,248,326)	(62,340,153)	1,390,354	345,334,653	(77,756)
Ending Balance (in shares) at Dec. 31, 2018			50,437,059	7,533,790
Offering costs	(2,418)	0	$ 0	$ 0	(2,418)	0	0	0	(2,418)	0
Issuance of limited partnership units in our Operating Partnership in connection with the SSGT Mergers/Self Administration Transaction	4,217,399	0	0	0	0	0	0	0	0	4,217,399
Changes to redeemable common stock	(3,963,393)	3,963,393	0	0	(3,963,393)	0	0	0	(3,963,393)	0
Redemptions of common stock	(141)	(2,044,001)	$ (120)	$ (21)	0	0	0	0	(141)	0
Redemptions of common stock (in shares)			(120,000)	(21,291)
Distributions	(8,411,426)	0	$ 0	$ 0	0	(8,411,426)	0	0	(8,411,426)	0
Distributions to noncontrolling interests	(46,584)	0	0	0	0	0	0	0	0	(46,584)
Issuance of shares for distribution reinvestment plan	3,963,766	0	$ 323	$ 50	3,963,393	0	0	0	3,963,766	0
Issuance of shares for distribution reinvestment plan (in shares)			322,580	49,604
Stock compensation expense	21,957	0	$ 0	$ 0	21,957	0	0	0	21,957	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(8,891,558)	0	0	0	0	0	(8,891,558)	0	(8,891,558)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(56,759)	0	0	0	0	0	0	0	0	(56,759)
Foreign currency translation adjustment	867,261	0	0	0	0	0	0	867,261	867,261	0
Foreign currency forward contract gains (loss)	(846,581)	0	0	0	0	0	0	(846,581)	(846,581)	0
Interest rate swap contract gain and cap contract gains (loss)	(1,315,092)	0	0	0	0	0	0	(1,315,092)	(1,315,092)	0
Ending Balance at Mar. 31, 2019	330,793,328	34,146,207	$ 50,640	$ 7,563	500,494,346	(102,659,752)	(71,231,711)	95,942	326,757,028	4,036,300
Ending Balance (in shares) at Mar. 31, 2019			50,639,639	7,562,103
Beginning Balance at Dec. 31, 2018	345,256,897	32,226,815	$ 50,437	$ 7,534	500,474,807	(94,248,326)	(62,340,153)	1,390,354	345,334,653	(77,756)
Beginning Balance (in shares) at Dec. 31, 2018			50,437,059	7,533,790
Net loss attributable to SmartStop Self Storage REIT, Inc.	(19,318,829)
Net loss attributable to the noncontrolling interests in our Operating Partnership	(1,455,039)
Foreign currency hedge contract gains (losses)	(1,970,862)
Interest rate swap contract gain and cap contract gains (loss)	(4,000,275)
Ending Balance at Sep. 30, 2019	360,622,181	39,839,496	$ 51,149	$ 7,650	491,272,437	(119,904,285)	(81,658,982)	(3,172,074)	286,595,895	74,026,286
Ending Balance (in shares) at Sep. 30, 2019			51,148,541	7,649,856
Beginning Balance at Mar. 31, 2019	330,793,328	34,146,207	$ 50,640	$ 7,563	500,494,346	(102,659,752)	(71,231,711)	95,942	326,757,028	4,036,300
Beginning Balance (in shares) at Mar. 31, 2019			50,639,639	7,562,103
Offering costs	(1,559)	0	$ 0	$ 0	(1,559)	0	0	0	(1,559)	0
Issuance of limited partnership units in our Operating Partnership in connection with the SSGT Mergers/Self Administration Transaction	63,643,000	0	0	0	0	0	0	0	0	63,643,000
Issuance of limited units in our Operating Partnership in exchange for special limited partnership interest	18,800,000	0	0	0	9,687,035	0	0	0	9,687,035	9,112,965
Contribution of special limited partnership interest in exchange for limited partnership interests in our Operating Partnership	(18,800,000)	0	0	0	(18,800,000)	0	0	0	(18,800,000)	0
Noncontrolling interests related to the consolidated Tenant Programs joint ventures	21,800	0	0	0	0	0	0	0	0	21,800
Redemption of limited partnership interests held by our Former Advisor	(200,000)	0	0	0	(291,103)	0	0	0	(291,103)	91,103
Changes to redeemable common stock	(4,049,066)	4,049,066	0	0	(4,049,066)	0	0	0	(4,049,066)	0
Redemptions of common stock	(211)	(2,052,078)	$ (200)	$ (11)	0	0	0	0	(211)	0
Redemptions of common stock (in shares)			(199,883)	(10,242)
Issuance of restricted stock	232	0	$ 232	$ 0	0	0	0	0	232	0
Issuance of restricted stock (in shares)			232,176	0
Distributions	(8,533,201)	0	$ 0	$ 0	0	(8,533,201)	0	0	(8,533,201)	0
Distributions to noncontrolling interests	(105,140)	0	0	0	0	0	0	0	0	(105,140)
Issuance of shares for distribution reinvestment plan	4,049,444	0	$ 328	$ 50	4,049,066	0	0	0	4,049,444	0
Issuance of shares for distribution reinvestment plan (in shares)			328,392	50,757
Stock compensation expense	25,136	0	$ 0	$ 0	25,136	0	0	0	25,136	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(2,212,445)	0	0	0	0	0	(2,212,445)	0	(2,212,445)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(71,527)	0	0	0	0	0	0	0	0	(71,527)
Foreign currency translation adjustment	1,192,459	0	0	0	0	0	0	1,192,459	1,192,459	0
Foreign currency forward contract gains (loss)	(1,039,585)	0	0	0	0	0	0	(1,039,585)	(1,039,585)	0
Interest rate swap contract gain and cap contract gains (loss)	(1,861,933)	0	0	0	0	0	0	(1,861,933)	(1,861,933)	0
Ending Balance at Jun. 30, 2019	381,650,732	36,143,195	$ 51,000	$ 7,602	491,113,855	(111,192,953)	(73,444,156)	(1,613,117)	304,922,231	76,728,501
Ending Balance (in shares) at Jun. 30, 2019			51,000,324	7,602,618
Offering costs	(2,276)	0	$ 0	$ 0	(2,276)	0	0	0	(2,276)	0
Changes to redeemable common stock	(4,046,001)	4,046,001	0	0	(4,046,001)	0	0	0	(4,046,001)	0
Redemptions of common stock	(200)	(349,700)	$ (197)	$ (3)	0	0	0	0	(200)	0
Redemptions of common stock (in shares)			(197,470)	(3,546)
Issuance of restricted stock	17	0	$ 17	$ 0	0	0	0	0	17	0
Issuance of restricted stock (in shares)			16,886	0
Distributions	(8,711,332)	0	$ 0	$ 0	0	(8,711,332)	0	0	(8,711,332)	0
Distributions to noncontrolling interests	(1,375,462)	0	0	0	0	0	0	0	0	(1,375,462)
Issuance of shares for distribution reinvestment plan	4,046,381	0	$ 329	$ 51	4,046,001	0	0	0	4,046,381	0
Issuance of shares for distribution reinvestment plan (in shares)			328,801	50,784
Stock compensation expense	160,858	0	$ 0	$ 0	160,858	0	0	0	160,858	0
Net loss attributable to SmartStop Self Storage REIT, Inc.	(8,214,826)	0	0	0	0	0	(8,214,826)	0	(8,214,826)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(1,326,753)	0	0	0	0	0	0	0	0	(1,326,753)
Foreign currency translation adjustment	(651,011)	0	0	0	0	0	0	(651,011)	(651,011)	0
Foreign currency hedge contract gains (losses)	(84,696)	0	0	0	0	0	0	(84,696)	(84,696)	0
Interest rate swap contract gain and cap contract gains (loss)	(823,250)	0	0	0	0	0	0	(823,250)	(823,250)	0
Ending Balance at Sep. 30, 2019	$ 360,622,181	$ 39,839,496	$ 51,149	$ 7,650	$ 491,272,437	$ (119,904,285)	$ (81,658,982)	$ (3,172,074)	$ 286,595,895	$ 74,026,286
Ending Balance (in shares) at Sep. 30, 2019			51,148,541	7,649,856

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net loss	$ (20,773,868)	$ (2,561,655)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	29,750,462	17,643,908
Accretion of deferred tax	(409,649)	0
Accretion of fair market value adjustment of secured debt	(98,850)	(336,894)
Amortization of debt issuance costs	2,997,801	975,591
Net loss on extinguishment of debt	1,487,867	0
Stock compensation expense	208,496	53,336
Contingent earnout expense	300,000	0
Unrealized foreign currency and derivative gains	(630,864)	(21,779)
Gain resulting from acquisition of unconsolidated affiliates	(8,017,353)	0
Increase (decrease) in cash from changes in assets and liabilities:
Other assets, net	(363,480)	(1,244,202)
Accounts payable and accrued liabilities	4,410,733	1,561,727
Managed REITs receivables	33,685	0
Due to affiliates	(752,631)	304,265
Net cash provided by operating activities	8,142,349	16,374,297
Cash flows from investing activities:
SSGT Mergers, net of cash acquired	(345,538,595)	0
Self Administration Transaction, net of cash acquired	(3,292,958)	0
Purchase of real estate	(9,435,343)	0
Additions to real estate	(7,993,081)	(1,112,143)
Deposits on acquisition of real estate facilities	(200,000)	0
Investment in real estate joint ventures	0	(3,174,033)
Settlement of foreign currency hedges	1,064,287	2,132,261
Purchase of foreign currency hedge	(147,347)	0
Settlement of company owned life insurance	3,122,962	0
Sale of real estate joint venture	3,357,814	0
Net cash used in investing activities	(359,062,261)	(2,153,915)
Cash flows from financing activities:
Gross proceeds from issuance of debt	531,334,779	5,000,000
Repayment of debt	(141,088,724)	(2,200,000)
Scheduled principal payments on debt	(566,816)	(1,603,805)
Debt issuance costs	(8,514,829)	(163,820)
Prepaid debt issuance costs	0	(1,075,000)
Debt defeasance costs	(1,690,703)	0
Offering costs	(509,512)	(526,598)
Redemption of common stock	(5,331,329)	(3,064,408)
Redemption of noncontrolling interest	(200,000)	0
Distributions paid to common stockholders	(13,607,658)	(13,115,607)
Distributions paid to noncontrolling interests in our Operating Partnership	(1,079,696)	(226,646)
Net cash provided by (used in) financing activities	358,745,512	(16,975,884)
Impact of foreign exchange rate changes on cash and restricted cash	96,122	(41,883)
Change in cash, cash equivalents, and restricted cash	7,921,722	(2,797,385)
Cash, cash equivalents, and restricted cash beginning of period	14,012,208	11,868,412
Cash, cash equivalents, and restricted cash end of period	21,933,930	9,071,027
Supplemental disclosures and non-cash transactions:
Cash paid for interest	26,457,563	13,534,949
Supplemental disclosure of noncash activities:
Issuance of shares pursuant to distribution reinvestment plan	12,059,591	12,042,676
Distributions payable	3,326,601	2,801,394
Redemption of common stock included in accounts payable and accrued liabilities	405,971	4,638,448
Deposit applied to the purchase of real estate	1,000,000	0
Additions to real estate and construction in process included in accounts payable	864,237	65,160
Write-off of unamortized debt issuance costs	356,519	0
Issuance of limited partnership units in our Operating Partnership in exchange for special limited partnership interest	18,800,000	0
Transfer of other assets to debt issuance costs	1,075,000	0
Foreign currency contracts, interest rate swaps, and interest rate cap contract in accounts payable and accrued liabilities and other assets	3,947,904	735,942
Prepaid debt issuance costs included in accounts payable and accrued liabilities	0	155,439
SSGT Mergers
Supplemental disclosure of noncash activities:
Issuance of units in our Operating Partnership	4,217,399	0
Debt assumed	5,038,435	0
Net liabilities assumed in SSGT Mergers	1,712,596	0
Self Administration Transaction
Supplemental disclosure of noncash activities:
Issuance of units in our Operating Partnership	63,643,000	0
Debt assumed	19,219,126	0
Contingent earnout consideration issued in the Self Administration Transaction	30,900,000	0
Deferred tax liabilities related to the Self Administration Transaction	7,415,654	0
Accounts payable and other accrued liabilities assumed in the Self Administration Transaction	$ 722,286	$ 0

Organization

Organization	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Organization	Note 1. Organization SmartStop Self Storage REIT, Inc. (f/k/a Strategic Storage Trust II, Inc.), a Maryland corporation (the “Company”), is a self-managed and fully-integrated self storage real estate investment trust (“REIT”), formed on January 8, 2013 under the Maryland General Corporation Law. The Company’s year-end is December 31. As used in this report, “we,” “us,” “our,” and “Company” refer to SmartStop Self Storage REIT, Inc. and each of our subsidiaries. Recent Developments On June 28, 2019, we and our operating partnership, SmartStop OP, L.P. (f/k/a Strategic Storage Operating Partnership II, L.P.) (our “Operating Partnership”), and SmartStop TRS, Inc. (f/k/a Strategic Storage TRS II, Inc.) (the “TRS”) entered into a series of transactions, agreements, and amendments to our existing agreements and arrangements (such agreements and amendments hereinafter referred to collectively as the “Self Administration Transaction”), with SmartStop Asset Management LLC, our former sponsor (“SAM”) and SmartStop OP Holdings, LLC (“SS OP Holdings”), a subsidiary of SAM, pursuant to which, effective June 28, 2019, we acquired the self storage advisory, asset management and property management businesses and Tenant Programs (as defined in Note 9) joint venture interests of SAM (the “Self Storage Platform”), along with certain other assets of SAM. As a result of the Self Administration Transaction, Strategic Storage Property Management II, LLC and SS Growth Property Management, LLC (together, our “Former External Property Managers”). Prior to the Self Administration Transaction, our Former External Advisor was responsible for managing our affairs on a day-to-day basis and identifying and making acquisitions and investments on our behalf under the terms of an advisory agreement and our properties were previously managed by our Former External Property Managers pursuant to property management agreements Offering Related Our Articles of Amendment and Restatement, as amended, authorize 350,000,000 shares of Class A common stock, $0.001 par value per share (the “Class A Shares”) and 350,000,000 shares of Class T common stock, $0.001 par value per share (the “Class T Shares”) and 200,000,000 shares of preferred stock with a par value of $0.001 per share. We offered a maximum of $1.0 billion in common shares for sale to the public (the “Primary Offering”) and $95.0 million in common shares for sale pursuant to our distribution reinvestment plan (collectively, the “Offering”). On January 10, 2014, the Securities and Exchange Commission (“SEC”) declared our registration statement effective. On May 23, 2014, we satisfied the $1.5 million minimum offering requirements of our Offering and commenced formal operations. On January 9, 2017, our Offering terminated. We sold approximately 48 million Class A Shares and approximately 7 million Class T Shares for approximately $493 million and $73 million respectively, in our Offering. On November 30, 2016, prior to the termination of our Offering, we filed with the SEC a Registration Statement on Form S-3, which registered up to an additional $100.9 million in shares under our distribution reinvestment plan (our “DRP Offering”). The DRP Offering may be terminated at any time upon 10 days’ prior written notice to stockholders. As of September 30, 2019, we had sold approximately 3.7 million Class A Shares and approximately 0.6 million Class T Shares for approximately $38.3 million and $5.8 million, respectively, in our DRP Offering. We invested the net proceeds from our Offering primarily in self storage facilities. As of September 30, 2019, we owned 112 operating self storage facilities and one facility under development located in 17 states (Alabama, Arizona, California, Colorado, Florida, Illinois, Indiana, Maryland, Massachusetts, Michigan, New Jersey, Nevada, North Carolina, Ohio, South Carolina, Texas and Washington) and Ontario, Canada (the Greater Toronto Area). On June 26, 2019, our board of directors, upon recommendation of our Nominating and Corporate Governance Committee, approved an estimated value per share of our common stock of $10.66 for our Class A Shares and Class T Shares based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding on a fully diluted basis, calculated as of March 31, 2019. As a result of the calculation of our estimated value per share, beginning in July 2019, shares sold pursuant to our distribution reinvestment plan are being sold at the estimated value per share of $10.66 for both Class A Shares and Class T Shares. Prior to the termination of our Primary Offering, Select Capital Corporation, a California corporation (our “Dealer Manager”) was responsible for marketing our shares offered pursuant to our Primary Offering. SAM indirectly owns a 15% non-voting equity interest in our Dealer Manager. Now that our Primary Offering has terminated, our Dealer Manager no longer provides such services for us. However, we pay our Dealer Manager an ongoing stockholder servicing fee with respect to the Class T Shares sold. Please see Note 9 – Related Party Transactions – Dealer Manager Agreement. Other Corporate History Our Operating Partnership was formed on January 9, 2013. During 2013, our Former External Advisor purchased limited partnership interests in our Operating Partnership for $200,000 and on August 2, 2013, we contributed the initial $1,000 capital contribution we received to our Operating Partnership in exchange for the general partner interest. See Note 4, Self Administration Transaction, for additional information. As we accepted subscriptions for shares of our common stock, we transferred all of the net Offering proceeds to our Operating Partnership as capital contributions in exchange for additional units of interest in our Operating Partnership. However, we were deemed to have made capital contributions in the amount of gross proceeds received from investors, and our Operating Partnership was deemed to have simultaneously paid the sales commissions and other costs associated with the Offering. In addition, our Operating Partnership is structured to make distributions with respect to limited partnership units that are equivalent to the distributions made to holders of common stock. Finally, a limited partner in our Operating Partnership may later exchange his or her limited partnership units in our Operating Partnership for shares of our common stock at any time after one year following the date of issuance of their limited partnership units, subject to certain restrictions outlined in our Operating Partnership’s limited partnership agreement. Our Operating Partnership owns, directly or indirectly through one or more special purpose entities, all of the self storage properties that we acquire. As of September 30, 2019, we owned approximately 86.6% of the common units of limited partnership interests of our Operating Partnership. The remaining approximately 13.4% of the common units are owned indirectly by SAM and affiliates of our Dealer Manager. As the sole general partner of our Operating Partnership, we have the exclusive power to manage and conduct the business of our Operating Partnership. We conduct certain activities through our TRS, which is a wholly-owned subsidiary of our Operating Partnership. On October 1, 2018, we, our Operating Partnership, and SST II Growth Acquisition, LLC, our wholly-owned subsidiary (“Merger Sub”), entered into an Agreement and Plan of Merger (the “SSGT Merger Agreement”) with Strategic Storage Growth Trust, Inc. (“SSGT”), a non-traded REIT then sponsored by SAM, and SS Growth Operating Partnership, L.P. (“SSGT OP”). Pursuant to the terms and conditions set forth in the Merger Agreement, on January 24, 2019: (i) we acquired SSGT by way of a merger of SSGT with and into Merger Sub, with Merger Sub being the surviving entity (the “SSGT REIT Merger”); and (ii) immediately after the SSGT REIT Merger, SSGT OP merged with and into our Operating Partnership, with the Operating Partnership continuing as the surviving entity and remaining a subsidiary of the Company (the “SSGT Partnership Merger” and, together with the SSGT REIT Merger, the “SSGT Mergers”). SSGT was a REIT focused on opportunistic self storage properties, including development, and lease-up properties. See Note 3, Real Estate Facilities—Merger with Strategic Storage Growth Trust, Inc., for additional information related to the SSGT Mergers. SAM owns 100% of the membership interests of Strategic Transfer Agent Services, LLC, our transfer agent (our “Transfer Agent”). On May 31, 2018, the Company executed an agreement (the “Transfer Agent Agreement”), with our Transfer Agent to provide transfer agent and registrar services to us that are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent. Our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. Please see Note 9 – Related Party Transactions – Transfer Agent Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation. Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of September 30, 2019, we were not a party to any other contracts/interests that would be deemed to be variable interest in VIEs other than our Tenant Programs joint ventures with SST IV and SSGT II which were acquired in the Self Administration Transaction, which are consolidated. As of December 31, 2018, we were not a party to any other contracts/interests that would be deemed to be variable interest in VIEs other than our Tenant Programs joint ventures and a real estate joint venture, both of which were accounted for under the equity method of accounting. In January 2019, we sold our interest in the real estate joint venture to SST IV, a REIT previously sponsored by SAM and now sponsored by SRA. We acquired 50% of the Tenant Programs joint venture in the Self Administration Transaction such that we now own 100% of such joint venture. Please see Note 3 – Real Estate Facilities for further discussion regarding the real estate joint venture and Note 9 – Related Party Transactions for further discussions regarding our Tenant Programs joint venture. Other than these joint ventures, we did not have any variable interest relationships with unconsolidated entities or financial partnerships as of December 31, 2018 Under the equity method, our investments in real estate joint ventures will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated investment. Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership and the noncontrolling interests in our Tenant Programs joint ventures with SST IV and SSGT II in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partners, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interests are reflected as a noncontrolling interest in the accompanying consolidated balance sheets. Our other consolidated, non wholly-owned joint ventures are also reflected as noncontrolling interest. The noncontrolling interests shall be attributed their share of income and losses, even if that attribution results in a deficit noncontrolling interest balance. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles. Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions. Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes, insurance and capital improvements in connection with the requirements of certain of our loan agreements. We may maintain restricted cash in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions. Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs as of the acquisition date. The value of the tangible assets, consisting primarily of land and buildings is determined as if vacant . Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded approximately $13.6 million and none in intangible assets to recognize the value of in-place leases related to our acquisitions during the nine months ended September 30, 2019 and 2018, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business, as defined under current GAAP, are accounted for as asset acquisitions. During the nine months ended September 30, 2019 and 2018, our property acquisitions have not met the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. During the three months ended September 30, 2019 and 2018, we expensed approximately $26,000 and $570,000, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. During the nine months ended September 30, 2019 and 2018, we expensed approximately $194,000 and $850,000, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. Purchase Price Allocation for the Acquisition of a Business Should the initial accounting for an acquisition that meets the definition of a business be incomplete by the end of a reporting period that falls within the measurement period, we report provisional amounts in our financial statements. During the measurement period, we adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date and we record those adjustments to our financial statements. We apply those measurement period adjustments in the period in which the provisional amounts are finalized. As discussed in Note 4, the Self Administration Transaction is an acquisition of a business and the related amounts recorded as of September 30, 2019 are provisional and subject to change. Evaluation of Possible Impairment of Long-Lived Assets Management monitors events and changes in circumstances that could indicate that the carrying amounts of our long-lived assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of the assets may not be recoverable, we will assess the recoverability of the assets by determining whether the carrying value of the long-lived assets will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying value, we will adjust the value of the long-lived assets to the fair value and recognize an impairment loss. For the three and nine months ended September 30, 2019 and 2018, no impairment losses were recognized. Real Estate Held for Sale We generally consider real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale is classified as “real estate held for sale” in the accompanying consolidated financial statements for the periods when it was held for sale. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results and related gains (losses) on sale of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations, consistent with current accounting guidance. Goodwill Valuation We have recorded goodwill of approximately $78.4 million as a result of the Self Administration Transaction. Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible assets and other intangible assets acquired. Goodwill is allocated to various reporting units, as applicable and is not amortized. We will perform an annual impairment test for goodwill and between annual tests, we will evaluate the recoverability of goodwill whenever events or changes in circumstances indicate that the carrying amount of goodwill may not be fully recoverable. In our impairment tests of goodwill, we will first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If based on this assessment, management determines that the fair value of the reporting unit is not less than its carrying amount, then performing the additional two-step impairment test is unnecessary. If the carrying amount of goodwill exceeds its fair value, an impairment charge will be recognized. Trademarks Trademarks are based on the value of our brands. Trademarks are valued using the relief from royalty method, which presumes that without ownership of such trademarks, we would have to make a stream of payments to a brand or franchise owner in return for the right to use their name. By virtue of this asset, we avoid any such payments and record the related intangible value of our ownership of the brand name. We used the following significant projections and assumptions to determine value under the relief from royalty method: revenues; royalty rate; tax expense; terminal growth rate; and discount rate. For the SmartStop ® ® We will evaluate whether any triggering events or changes in circumstances have occurred subsequent to our annual impairment test that would indicate an impairment condition may exist. If any change in circumstance or triggering event occurs, and results in a significant impact to our revenue and profitability projections, or any significant assumption in our valuations methods is adversely impacted, the impact could result in a material impairment charge in the future. In connection with the Self Administration Transaction, we recorded $19.8 million associated with the two primary trademarks acquired. Prior thereto we had no amounts recorded related to trademarks. Approximately $18.7 million of the original $19.8 ® ® ® The total estimated future amortization expense of the “Strategic Storage ® Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets. Our Managed REIT Platform revenue includes advisory, asset management, property management and other similar fees. Such fees are earned pursuant to the advisory and property management agreements with the Managed REITs. The fees are recognized in the periods during which the related services are performed and the amounts have been contractually earned. Revenue from such contracts is discussed further in Note 9 - Related Party Transactions. Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use. Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-40 years Site Improvements 7-10 years Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets. Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of September 30, 2019, the gross amounts allocated to in-place lease intangibles was approximately $46.7 million and accumulated amortization of in-place lease intangibles totaled approximately $38.1 million. As of December 31, 2018, the gross amounts allocated to in-place lease intangibles were approximately $33.4 million and accumulated amortization of in-place lease intangibles totaled approximately $31.9 million. The total estimated future amortization expense of in-place lease intangible assets for the years ending December 31, 2019, 2020, 2021, 2022, 2023, and thereafter is approximately $2.2 million, $5.0 million, $0.1 million, $0.1 million, $0.1 million, and $1.1 million, respectively. In connection with the Self Administration Transaction, we allocated a portion of the consideration to the contracts that we acquired related to the Managed REITs and the customer relationships related to the Tenant Programs joint ventures. For these intangibles, we are amortizing such amounts on a straight-line basis over the estimated benefit period of the contracts and customer relationships. As of September 30, 2019, the gross amount allocated to the contracts and customer relationships was approximately $26.5 million and the accumulated amortization was approximately $1.5 million. The total estimated future amortization expense for such intangible assets for the years ending December 31, 2019, 2020, 2021, 2022, 2023 and thereafter is approximately $1.4 million, $5.7 million, $4.6 million, $4.6 million, $4.6 million, and $4.1 million, respectively. Debt Issuance Costs The net carrying value of costs incurred in connection with our former revolving credit facility was presented as debt issuance costs on our consolidated balance sheet as of December 31, 2018. Debt issuance costs were amortized on a straight-line basis over the term of the related loan, which was not materially different than the effective interest method. As of September 30, 2019 and December 31, 2018, accumulated amortization of debt issuance costs related to our former revolving credit facility totaled none and approximately $45,000, respectively. The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the balance sheet as a deduction from debt (see Note 6). Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2019 and December 31, 2018, accumulated amortization of debt issuance costs related to non-revolving debt totaled approximately $3.7 million and $1.0 million, respectively. Offering Costs We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All adjustments related to amounts classified as long term equity investments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Changes in equity investments not classified as long term are recorded in other income (expense) and represented a loss of approximately $0.2 million and none for the three months ended September 30, 2019 and 2018, respectively, and represented a gain of approximately $0.7 million and none for the nine months ended September 30, 2019 and 2018, respectively. Redeemable Common Stock We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program is limited to the number of shares we can repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in the accompanying consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. On August 26, 2019, our board of directors approved the suspension of our share redemption program, effective as of September 27, 2019, so that common shares are redeemable at the option of the holder only in connection with (i) death or disability of a stockholder, (ii) confinement to a long-term care facility, or (iii) other exigent circumstances For the year ended December 31, 2018, we received redemption requests totaling approximately $8.3 million (approximately 0.9 million shares), approximately $7.0 million of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $1.3 million included in accounts payable and accrued liabilities as of December 31, 2018 and fulfilled in January 2019. For the nine months ended September 30, 2019, we received redemption requests totaling approximately $4.4 million (approximately 450,000 shares), approximately $4.0 million of which were fulfilled in April and July 2019, and approximately $0.4 million of which were included in accounts payable and accrued liabilities as of September 30, 2019, and fulfilled in October 2019. Accounting for Equity Awards Through September 30, 2019, we have only issued service based awards. The cost of such restricted stock awards is required to be measured based on the grant date fair value and the cost recognized over the relevant service period. We have assumed no forfeitures in recognizing these costs; any such forfeitures will be recognized upon occurrence and will reduce the previously recognized expenses. Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions along with the assets and liabilities described in Note 4, Self Administration Transaction The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable-rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate notes payable at September 30, 2019 and December 31, 2018. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 316,560,000 $ 303,028,569 $ 200,600,000 $ 207,357,391 As of September 30, 2019, and December 31, 2018, we had interest rate swaps, interest rate caps, and a net investment hedge (See Notes 6 and 7). The valuations of these instruments were determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. The analysis reflected the contractual terms of the derivative, including the period to maturity, and used observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair value of the interest rate swaps were determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash payments. Our fair values of our net investment hedges are based on the change in the spot rate at the end of the period as compared with the strike price at inception. To comply with GAAP, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of derivative contracts for the effect of non-performance risk, we will consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we had determined that the majority of the inputs used to value our derivatives were within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilized Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, through September 30, 2019, we had assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we determined that our derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. Derivative Instruments and Hedging Activities We record all derivatives on our balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in accumulated other comprehensive income. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of other comprehensive (loss) income into earnings (loss) when the hedged net investment is either sold or substantially liquidated. Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2014. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockhol

Real Estate Facilities

Real Estate Facilities	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Real Estate Facilities	Note 3. Real Estate Facilities The following summarizes the activity in real estate facilities during the nine months ended September 30, 2019: Real estate facilities Balance at December 31, 2018 $ 820,296,026 Facilities acquired through merger with SSGT 334,139,296 Corporate office acquired through Self Administration Transaction 6,500,000 Other facility acquisitions 10,430,942 Real estate reclassified to held for sale (11,690,958 ) Impact of foreign exchange rate changes 4,183,185 Improvements and additions 4,338,265 Balance at September 30, 2019 $ 1,168,196,756 Accumulated depreciation Balance at December 31, 2018 $ (54,264,685 ) Depreciation expense (21,643,576 ) Impact of foreign exchange rate changes (241,041 ) Real estate reclassified to held for sale 202,416 Balance at September 30, 2019 $ (75,946,886 ) Merger with Strategic Storage Growth Trust, Inc. On October 1, 2018, we, our Operating Partnership, and SST II Growth Acquisition, LLC, our wholly-owned subsidiary (“Merger Sub”), entered into an Agreement and Plan of Merger (the “SSGT Merger Agreement”) with Strategic Storage Growth Trust, Inc. (“SSGT”), a non-traded REIT then sponsored by SAM, and SS Growth Operating Partnership, L.P. (“SSGT OP”). Pursuant to the terms and conditions set forth in the SSGT Merger Agreement, on January 24, 2019: (i) we acquired SSGT by way of a merger of SSGT with and into Merger Sub, with Merger Sub being the surviving entity (the “SSGT REIT Merger”); and (ii) immediately after the SSGT REIT Merger, SSGT OP merged with and into our Operating Partnership, with the Operating Partnership continuing as the surviving entity and remaining a subsidiary of the Company (the “SSGT Partnership Merger” and, together with the SSGT REIT Merger, the “SSGT Mergers”). At the effective time of the SSGT REIT Merger (the “SSGT REIT Merger Effective Time”), each share of SSGT common stock, par value $0.001 per share (the “SSGT Common Stock”), outstanding immediately prior to the SSGT REIT Merger Effective Time (other than shares owned by SSGT and its subsidiaries or us and our subsidiaries) was automatically converted into the right to receive an amount in cash equal to $12.00, without interest and less any applicable withholding taxes. The proceeds used to fund the SSGT Mergers and the repayment of approximately $141 million of our outstanding debt were funded by the SSGT Merger Financings, totaling approximately $500 million, as described in Note 6. Immediately prior to the SSGT REIT Merger Effective Time, all shares of SSGT Common Stock that were subject to vesting and other restrictions also became fully vested and converted into the right to receive cash equal to $12.00 per share upon the SSGT REIT Merger. At the effective time of the SSGT Partnership Merger, each outstanding unit of partnership interest in SSGT OP was converted automatically into 1.127 units of partnership interest in our Operating Partnership, which resulted in approximately 396,000 SSGT was a REIT focused on opportunistic self storage properties, including development, and lease-up properties. Additionally, we obtained the rights to acquire a self storage facility which was under development located in Gilbert, Arizona that was previously under contract with SSGT and was acquired by us in July 2019. The following table reconciles the total consideration transferred during the SSGT Mergers: Fair value of consideration transferred: Cash $ 346,231,561 (1) Issuance of limited partnership units in our Operating Partnership to SS Growth Advisor, LLC 4,217,399 Total consideration transferred $ 350,448,960 (1) approximately $19 million of SSGT debt that was repaid at closing, approximately $5 million of other SSGT liabilities paid at closing, and approximately $1 million in transaction costs. The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the SSGT Mergers: Assets Acquired: Land $ 62,261,573 Buildings 255,743,767 Site improvements 16,133,956 Construction in process 5,370,773 Intangible assets 13,571,765 Cash and cash equivalents 692,965 Other assets 6,536,838 Total assets acquired $ 360,311,637 Liabilities assumed: Debt $ 5,038,435 Accounts payable and accrued liabilities 4,824,242 Total liabilities assumed $ 9,862,677 Total net assets acquired $ 350,448,960 Acquisition of Property Located in Gilbert, Arizona On January 24, 2019, we, by way of the SSGT Mergers, obtained the rights to acquire a property that was being developed into a self storage facility located in Gilbert, Arizona (the “Riggs Road Property”). On July 11, 2019, upon issuance of the certificate of occupancy, we acquired the Riggs Road Property for a purchase price of $10 million, plus closing costs and acquisition fees. Pursuant to the Contribution Agreement (as defined in Note 4), an acquisition fee of $175,000 was paid to SAM. We funded such acquisition through a $4.3 million draw on the Senior Term Loan and an approximate $5.7 million draw on the Secured Loan. The following table summarizes the purchase price allocation for the real estate related assets acquired during the nine months ended September 30, 2019: Acquisition Acquisition Date Real Estate Assets Construction in Process (4) Intangibles Total (1) 2019 Revenue (2) 2019 Property Operating Income (2)(3) SSGT Mergers 1/24/2019 $ 334,139,296 $ 5,370,773 $ 13,571,765 $ 353,081,834 $ 15,942,076 $ 8,335,227 (5) Riggs Rd - Gilbert 7/11/2019 $ 10,430,942 $ — $ — $ 10,430,942 $ 16,653 $ (34,945 ) (6) (1) The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid including capitalized acquisition costs. (2) The operating results of the self storage properties acquired during the nine months ended September 30, 2019 have been included in our consolidated statement s of operations since their respective acquisition date. (3) Property operating income excludes corporate general and administrative expenses, asset management fees, interest expenses, depreciation, amortization and acquisition expenses. (4) Construction in process relates to the Torbarrie property in Toronto, Canada, which is a self storage property under construction with an expected completion date in the fourth quarter of 2019 or first quarter of 2020. Amounts shown above are as of the acquisition date. (5) SSGT was a REIT focused on opportunistic self storage properties, including development, and lease-up properties. As a result, many of its properties were not physically and/or economically stabilized as of the date of the SSGT Mergers. (6) The Riggs Road Property was recently developed, with 0% occupancy as of its acquisition date Sale of San Antonio II Property The San Antonio II Property was acquired by us in the SSGT Mergers. On February 5, 2019, we executed a purchase and sale agreement with an unaffiliated third party for the sale of the San Antonio II Property for approximately $16.1 million, less closing costs. The San Antonio II Property sale was completed on October 18, 2019. See Note 14 – Subsequent Events for further detail Joint Venture with SmartCentres In January 2018, a subsidiary of SAM entered into a contribution agreement (the “SmartCentres Contribution Agreement”) with a subsidiary of SmartCentres Real Estate Investment Trust, an unaffiliated third party (“SmartCentres”), for a tract of land owned by SmartCentres and located in East York, Ontario (the “East York Lot”) in Canada. In March 2018, the interest in the SmartCentres Contribution Agreement was assigned to one of our subsidiaries. On June 28, 2018, we closed on the East York Lot, which is owned by a limited partnership (the “Limited Partnership”), in which we (through our subsidiary) and SmartCentres (through its subsidiary) were each a 50% limited partner and each had an equal ranking general partner in the Limited Partnership. At closing, we subscribed for 50% of the units in the Limited Partnership at an agreed upon subscription price of approximately $3.8 million CAD, representing a contribution equivalent to 50% of the agreed upon fair market value of the land. The Limited Partnership intends to develop a self storage facility on the East York Lot. The value of the land contributed to the Limited Partnership had an agreed upon fair market value of approximately $7.6 million CAD. In January 2019, we sold our interest in the Limited Partnership to SST IV for approximately $4.7 million CAD, which represented our total cost incurred related to the Limited Partnership. Of this amount, approximately $4.6 million CAD related to the acquisition of land and development costs incurred, and approximately $100,000 CAD related to acquisition costs that were expensed during 2018, which were recorded in other income (expense) in the consolidated statement of operations for the nine months ended September 30, 2019.

Self Administration Transaction

Self Administration Transaction	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Self Administration Transaction	Note 4. Self Administration Transaction Overview On June 28, 2019, we, our Operating Partnership and our TRS entered into a series of transactions, agreements, and amendments to our existing agreements and arrangements with our then-sponsor SAM and SS OP Holdings, a subsidiary of SAM, pursuant to which, effective June 28, 2019, we acquired the self storage advisory, asset management and property management businesses and Tenant Programs joint venture interests of SAM, along with certain other assets of SAM. As a result of the Self Administration Transaction, Agreements Contribution Agreement On June 28, 2019, we along with our Operating Partnership, as contributee, and SAM and SS OP Holdings, as contributor, entered into a Contribution Agreement (the “Contribution Agreement”) whereby the Operating Partnership acquired the Self Storage Platform and certain other assets, including (a) SAM’s, or its subsidiaries’, 100% membership interests in our Former External Advisor and Former External Property Managers, the advisor and property manager for SST IV, the advisor and property manager for SSGT II, entities related to the Tenant Programs joint ventures, and certain entities related to SAM’s self storage business in Canada ; (b) all equipment, furnishings, fixtures and computer equipment as set forth in the Contribution Agreement; (c) certain personal property as set forth in the Contribution Agreement; (d) all intellectual property, goodwill, licenses and sublicenses granted and obtained with respect thereto (including all rights to the “SmartStop®” brand and “Strategic Storage®” related trademarks), (e) SAM’s processes, practices, procedures and workforce related to the self storage business (then consisting of a total of approximately 350 on-site self storage employees, regional and district managers, other personnel and the then current executive management team of the Company), and (f) certain other assets as set forth in the Contribution Agreement, in exchange for $769,126 in cash, and 8,698,956 Class A-1 limited partnership units of the Operating Partnership (“Class A-1 Units”) and 3,283,302 Class A-2 limited partnership units of the Operating Partnership (“Class A-2 Units”). The Contribution Agreement contains customary representations, warranties, covenants, agreements and indemnification obligations and rights of us, the Operating Partnership, SAM and SS OP Holdings. Third Amended and Restated Limited Partnership Agreement and Redemption of Limited Partner Interest Agreement On June 28, 2019, we entered into the Third Amended and Restated Limited Partnership Agreement of the Operating Partnership, (the “Operating Partnership Agreement”), which amended and superseded the Second Amended and Restated Limited Partnership Agreement (the “Former OP Agreement”), and a Redemption of Limited Partner Interest Agreement (the “Redemption of Limited Partner Interest Agreement”) with the Former External Advisor and the Operating Partnership, pursuant to which the Operating Partnership redeemed all of the limited partnership interests held by the Former External Advisor in the Operating Partnership. As a result of the Redemption of Limited Partner Interest Agreement and the Self Administration Transaction, the Former External Advisor’s parent entity, SAM and its affiliates no longer hold either their previously existing 20,000 limited partnership units or their special limited partnership interest in the Operating Partnership; however, SAM received cash of $200,000 and also now holds Class A-1 Units and Class A-2 Units in the Operating Partnership, as further described below. As a result of the entry into the above-described Redemption of Limited Partner Interest Agreement and the Operating Partnership Agreement (1) references to the limited partner interests previously held by the Former External Advisor in the Operating Partnership have been removed from the Operating Partnership Agreement in connection with the redemption of such interests pursuant to the Redemption of Limited Partner Interest Agreement and (2) provisions related to the subordinated incentive distributions payable to the Former External Advisor pursuant to the special limited partnership interests have been removed from the Operating Partnership Agreement. Accordingly, we and our Operating Partnership will no longer have any obligation to make the Subordinated Share of Net Sale Proceeds, Subordinated Distribution Due Upon Termination of Advisory Agreement, Subordinated Incentive Listing Distribution, or Subordinated Distribution Due Upon Extraordinary Transaction (each as defined in the Former OP Agreement). In addition, the revised Operating Partnership Agreement created two new classes of units to be issued to SS OP Holdings in connection with the Self Administration Transaction: Class A-1 Units and Class A-2 Units. The Class A-1 Units are subject to the general restrictions on transfer contained in the Operating Partnership Agreement. In addition, until June 28, 2021 (the “Lock-Up Expiration”), the Class A-1 Units may not be sold, pledged, or otherwise transferred or encumbered except in certain limited circumstances set forth in the Contribution Agreement. The Class A-1 Units are otherwise entitled to all rights and duties of the Class A limited partnership units in the Operating Partnership, including cash distributions and the allocation of any profits or losses in the Operating Partnership. The Class A-2 Units may convert into Class A-1 Units as earnout consideration, as described below. The conversion features of the Class A-2 Units are as follows: (A) the first time the aggregate incremental assets under management (“AUM”) (as defined in the Operating Partnership Agreement) of the Operating Partnership equals or exceeds The Operating Partnership Agreement also provides the Class A-1 unitholders a vote on “Extraordinary Matters” which includes any merger, sale of all or substantially all of our assets, share exchange, conversion, dissolution or amendment of our charter, in each case where the vote of our stockholders is required under Maryland law (the “OP Consent”). The OP Consent will be determined by a vote of the partners of the Operating Partnership, with our vote, as General Partner of the Operating Partnership, being voted in proportion to the votes cast by our stockholders on the Extraordinary Matter. The Redemption of Limited Partner Interest Agreement contained various customary representations and warranties. Membership Interest Purchase Agreement – Ladera Office On June 28, 2019, immediately following the Self Administration Transaction, SAM and its then wholly-owned subsidiary, 10 Terrace Rd, LLC (“10 Terrace Rd”), and SmartStop Storage Advisors, LLC (“SSA”), our indirect subsidiary, entered into a Membership Interest Purchase Agreement (the “Membership Interest Purchase Agreement”), pursuant to which SSA purchased 100% of the membership interests in 10 Terrace Rd for $6.5 million, payable through the assumption of existing debt in the amount of approximately $4.2 million, and cash in the amount of approximately $2.3 million. 10 Terrace Rd is the owner of an office condominium located at 10 Terrace Rd., Ladera Ranch, California (the “Ladera Office”) which, as a result of the Membership Interest Purchase Agreement, we now indirectly own. The Ladera Office houses our corporate headquarters. Fair Value of Consideration Transferred We accounted for the Contribution Agreement and Membership Interest Purchase Agreement discussed above as a business combination under the acquisition method of accounting. During the nine months ended September 30, 2019, we incurred approximately $1.6 million for legal fees and fees and expenses of our other professional and financial advisors related to the Self Administration Transaction, which are included in the self administration transaction expenses line-item in the accompanying consolidated statements of operations. We are in the process of gathering certain additional information in order to finalize our assessment of the fair value of the consideration transferred; thus, the fair values are preliminary and subject to change. The estimated fair value of the consideration transferred totaled approximately $111.3 million and consisted of the following: Estimated Fair Value of Consideration Transferred Cash (1) $ 3,918,185 Class A-1 Units 63,643,000 Class A-2 Units (contingent earnout) 30,900,000 Total Consideration Transferred 98,461,185 Fair value of our preexisting 50% equity interests 12,800,000 Total $ 111,261,185 (1) The Contribution Agreement required a true-up related to the assumption of certain operating assets and liabilities. We assumed a net asset of approximately $0.5 million and such amount was included above as cash consideration. As a result of this acquisition, we remeasured the book value of our preexisting 50% equity method investments in our Tenant Programs joint ventures to fair value, which resulted in a gain of approximately $8.0 million which was presented in the gain resulting from acquisition of unconsolidated affiliates line-item in our consolidated statements of operations. The fair values of the Tenant Programs joint ventures were determined based on a discounted cash flow valuation of the projected cash flows. The estimated fair value of the Class A-1 Units issued was determined using the Company’s net asset value, described above, which was based on an income approach to value the properties and the valuation of the assets acquired in the Self Administration Transaction, as described herein, adjusted for market related adjustments and illiquidity discounts. These fair value measurements are based on significant inputs not observable in the market and thus represent a Level 3 measurement as discussed in Note 2. The key assumptions used in estimating the fair value of the Class A-1 Units and Class A-2 Units consideration included (i) a marketability discount of 5%, (ii) a capitalization rate of 5.16% and (iii) annual net operating income of approximately $74 million. The estimated fair value of the contingent earnout, Class A-2 Units, was determined using the net asset value calculation described above and further adjusted based on a discounted probability weighted forecast of achieving the requisite AUM thresholds. Subsequent to the completion of the Self Administration Transaction, such liability is required to be recorded at fair value. During the three months ended September 30, 2019, such liability increased by $300,000 to $31.2 million based on an updated discounted probability weighted forecast. Allocation of Consideration The consideration transferred pursuant to the Self Administration Transaction was allocated to the assets acquired and liabilities assumed, based upon their preliminary estimated fair values as of the acquisition date. The Company is in the process of gathering certain additional information in order to finalize its assessment of the fair value of the deferred tax liabilities; thus, the provisional measurements are subject to change. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed: Identifiable Assets Acquired at Fair Value Cash and cash equivalents $ 36,443 Restricted cash 94,999 Land 975,000 Building 5,389,000 Site Improvements 136,000 Equipment, furniture and fixtures 651,000 Investments in Managed REITs 5,600,000 Other assets 1,084,629 Intangibles - customer relationships 1,600,000 Trademarks 19,800,000 Intangibles - management contracts 24,900,000 Total identifiable assets acquired $ 60,267,071 Identifiable Liabilities Assumed at Fair Value Debt $ 19,219,126 Accounts payable and accrued expenses 722,286 Deferred tax liabilities, net 7,415,654 Total liabilities assumed $ 27,357,066 Net identifiable assets acquired $ 32,910,005 Goodwill 78,372,980 Non-controlling interest related to consolidated Tenant Programs joint ventures (21,800 ) Net assets acquired $ 111,261,185 The fair value estimate of property and equipment utilized a combination of the income, cost and market approaches, depending on the characteristics of the asset classification. The fair value of land was determined using the market approach, which considers sales of comparable assets and applies compensating factors for any differences specific to the particular assets. Equipment was valued based on estimated replacement cost. Building and site improvements were valued using the cost approach using a direct cost model built on estimates of replacement cost. The intangible assets acquired primarily consist of trademarks and the property management and advisory contracts related to the Managed REITs. The value of the property management and advisory contracts were determined based on a discounted cash flow valuation of the projected cash flows of the acquired contracts. The deferred tax liability is the result of differences between the GAAP carrying value of certain amortizing assets and the carrying value for tax purposes related to activities which are conducted through our TRS. The goodwill recognized is supported by several factors, including that the Company is now self-managed; additionally, the Managed REIT Platform business brings an established management platform with numerous strategic benefits including growth from new income streams and the ability to offer new products. We have not yet completed our allocation of goodwill to the respective reporting units, pending the finalization of the valuation of the deferred tax liabilities. The results of the acquisition have been included in our consolidated statements of operations since the closing date of the transaction. Debt Assumed Secured debt – Ladera Office Loan In connection with the Membership Interest Purchase Agreement, we, through 10 Terrace Rd, assumed a loan (the "Ladera Office Loan") with KeyBank National Association ("KeyBank") with a principal amount of approximately $4.2 million. The Ladera Office Loan is secured by a first priority deed of trust on the Ladera Office, a promissory note, an assignment of all related leases and rents and a perfected first priority security interests in all personal property, escrows and reserves; additionally, our Operating Partnership provided a non-recourse carve-out guaranty in favor of KeyBank. The Ladera Office Loan accrues interest at a fixed rate of 4.29% per annum through the maturity date of November 1, 2026. The loan contains a number of other customary terms and covenants. KeyBank Tenant Program Loan In connection with the Contribution Agreement, we assumed a term loan with KeyBank in an amount of approximately $15 million (the “KeyBank Tenant Program Loan”). Pursuant to the assumption of the KeyBank Tenant Program Loan, our Executive Chairman and an entity controlled by him continue to be borrowers under the loan. We provided an indemnity to our Executive Chairman and the entity controlled by him against all obligations under the loan. The KeyBank Tenant Program Loan bears interest at a rate of 1-month Libor plus 350 basis points, resulting in an initial interest rate of approximately 5.90%. Additionally, our Operating Partnership provided a full guaranty in favor of KeyBank. We are required to reduce the principal balance of the KeyBank Tenant Program Loan to no greater than (i) $14.0 million by December 31, 2019; (ii) $12.5 million by June 30, 2020 and (iii) $11.0 million by December 31, 2020. In addition, the net Tenant Programs revenues received by certain of our subsidiaries, related to the Tenant Programs joint venture interests we acquired in the Self Administration Transaction are required to be deposited in a collateral account maintained by KeyBank and such funds will be applied on a monthly basis first to accrued and unpaid interest and then to the outstanding principal balance of the KeyBank Tenant Program Loan. The KeyBank Tenant Program Loan was paid off in full on October 29, 2019 in connection with the issuance of Series A Preferred Stock. See Note 14 – Subsequent Events for further detail. Fair Value of Equity Exchanged Related to the Redemption of Limited Partnership Interests In connection with the Redemption of Limited Partner Interest Agreement and the Contribution Agreement, the Former External Advisor redeemed its special limited partnership interest and 20,000 limited partnership units in the Operating Partnership in exchange for $200,000 in cash and Class A-1 Units. The exchange was accounted for as a transaction among equity holders with no gain or loss recognized. The fair value of the special limited partnership interest contributed was determined to be approximately $18.8 million, while the book value of the Class A-1 Units issued that was recorded in noncontrolling interest was approximately $9.1 million. The difference between the fair value of the special limited partnership interest received and the book value of the Operating Partnership Units issued was recorded to additional paid in capital. The estimated fair value of the Class A-1 Units issued was determined consistent with the methodology described above. The fair value of the special limited partnership interest was determined based on discounted projections of the future value of the special limited partnership interest which included various assumptions, including estimated future distributions and the related timing thereto. Administrative Services Agreement On June 28, 2019, we along with our Operating Partnership, the TRS and SSA (collectively, the “Company Parties”) entered into an Administrative Services Agreement with SAM (the “Administrative Services Agreement”), pursuant to which the Company Parties will be reimbursed for providing certain operational and administrative services to SAM which may include, without limitation, accounting and financial support, IT support, HR support, advisory services and operations support, and administrative support as set forth in the Administrative Services Agreement and SAM will be reimbursed for providing certain operational and administrative services to the Company Parties which may include, without limitation, due diligence support, marketing, fulfillment and offering support, events support, insurance support, and administrative and facilities support. SAM will receive a monthly administrative service fee for providing its services and the Company Parties will receive monthly reimbursement based on the amount of services provided under the Administrative Services Agreement. SAM will also pay the Company Parties an allocation of rent and overhead for the portion it occupies in the Ladera Office. Such agreement has a term of three years, and is subject to certain adjustments as defined in the agreement. Registration Rights Agreement On June 28, 2019, we and our Operating Partnership entered into a registration rights agreement (the “Registration Rights Agreement”) with SS OP Holdings and certain other parties (collectively, the “Holders”). Pursuant to the Registration Rights Agreement, the Holders have the right after the Lock-Up Expiration to request us to register for resale under the Securities Act of 1933, as amended, shares of our common stock issued or issuable to such Holder. We are required to use commercially reasonable efforts to file a registration statement on Form S-3 within 30 days of such request and within 60 days of such request in the case of a registration statement on Form S-11 or such other appropriate form. We will cause such registration statement to become effective as soon as reasonably practicable thereafter. The Registration Rights Agreement also grants the Holders certain “piggyback” registration rights after the Lock-Up Expiration. Severance Plan In connection with the Self Administration Transaction, we entered into severance agreements with each of our executive officers (collectively, the “Severance Agreements”). Each of the Severance Agreements for our executive officers (collectively, the “Executive Officer Severance Agreements”) provide for separation payments upon the termination of the executive officer’s employment under various conditions. The level of severance pay depends upon the circumstances of the executive officer’s termination of employment. If the executive officer violates any of the restrictive covenants set forth in the Executive Officer Severance Agreements, that executive officer’s right to receive severance payments pursuant to the Executive Officer Severance Agreements will end immediately.

Pro Forma Financial Information

Pro Forma Financial Information (Unaudited)	9 Months Ended
	Sep. 30, 2019
Business Acquisition Pro Forma Information [Abstract]
Pro Forma Financial Information (Unaudited)	Note 5. Pro Forma Financial Information (Unaudited) The table set forth below summarizes, on a pro forma basis, the combined results of operations of the Company for the nine months ended September 30, 2019 and 2018. Such presentation reflects the Company’s acquisitions that occurred during 2019, which met the GAAP definition of a business in effect at that time, as if the acquisitions had occurred as of January 1, 2018. This pro forma information does not purport to represent what the actual consolidated results of operations of the Company would have been for the periods indicated, nor does it purport to predict the results of operations for future periods. For the Nine Months ended September 30, 2019 September 30, 2018 Pro forma revenue $ 83,809,401 $ 62,518,667 Pro forma operating expenses $ (76,382,169 ) $ (52,578,442 ) Pro forma net income (loss) attributable to common stockholders $ (22,254,892 ) $ (3,450,094 ) The pro forma financial information for the nine months ended September 30, 2019 and 2018 was adjusted to exclude approximately $1.6 million and none, respectively, for acquisition related expenses.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Note 6. Debt The Company’s debt is summarized as follows: Encumbered Property September 30, 2019 December 2018 Interest Rate Maturity Date KeyBank CMBS Loan (5) $ 95,000,000 $ 95,000,000 3.89 % 8/1/2026 KeyBank Florida CMBS Loan (6) 52,000,000 52,000,000 4.65 % 5/1/2027 Midland North Carolina CMBS Loan (7) 47,203,386 47,249,999 5.31 % 8/1/2024 Canadian CitiBank Loan (8) 82,543,360 72,846,480 4.21 % 10/9/2020 CMBS SASB Loan (9) 235,000,000 — 5.02 % 2/9/2022 CMBS Loan (10) 104,000,000 — 5.00 % 2/1/2029 Secured Loan (11) (13) 95,362,000 — 4.52 % 1/24/2022 Senior Term Loan (12) (13) 86,300,000 — 6.27 % 1/24/2022 Stoney Creek Loan (14) 5,497,319 — 5.90 % 10/1/2021 Torbarrie Loan (15) 2,791,947 — 5.90 % 3/1/2023 Ladera Office Loan 4,199,915 — 4.29 % 11/1/2026 KeyBank Tenant Program Loan 14,554,306 — 5.52 % 5/9/2021 Raleigh/Myrtle Beach promissory note (1) — 11,878,396 5.73 % N/A Amended KeyBank Credit Facility (2) — 98,782,500 5.00 % N/A Oakland and Concord loan (3) — 19,483,127 3.95 % N/A $11M KeyBank Subordinate Loan (4) — 11,000,000 6.25 % N/A Premium on secured debt, net 625,267 1,228,996 Debt issuance costs, net (9,758,342 ) (3,385,395 ) Total debt $ 815,319,158 $ 406,084,103 (1) Fixed rate debt with principal and interest payments due monthly. This promissory note was encumbered by five properties, Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II. This loan was repaid in conjunction with the SSGT Merger financing. (2) As of December 31, 2018, this facility encumbered 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). This loan was repaid in conjunction with the SSGT Merger financing. (3) This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixed the interest rate at 3.95%. This loan was repaid in conjunction with the SSGT Merger financing. (4) This variable rate loan encumbered 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and was subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. This loan was repaid in conjunction with the SSGT Merger financing. (5) This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts. (6) This fixed rate loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray) with monthly interest only payments until June 2022, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts. (7) This fixed rate loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments became due monthly. (8) This variable rate loan encumbers 10 of our Canadian properties and the amount shown above is in USD based on the foreign exchange rate in effect as of September 30 , 2019. W e have purchased interest rate caps that cap CDOR at 3.0 % until October 15, 2021. The separate assets of these encumbered properties are not available to pay our other debts. (9) This variable rate loan encumbers 29 properties (Morrisville, Cary, Raleigh, Vallejo, Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Port St Lucie, Sacramento, Concord, Oakland, Wellington, Doral, Naples, Baltimore, Aurora, Jones Blvd - Las Vegas, Russell Rd - Las Vegas, Riverside, Stockton, Azusa, Romeoville, Elgin, San Antonio, Kingwood). In June 2019, we purchased an interest rate swap whereby LIBOR is fixed at 1.79% though February 15, 2022 . (10) This fixed rate loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts. (11) This variable rate loan encumbers 17 properties (Colorado Springs, Aurora, San Antonio, Phoenix, 3173 Sweeten Creek Rd - Asheville, Elk Grove, Garden Grove, Deaverview Rd - Asheville, Highland Center Blvd - Asheville, Sarasota, Mount Pleasant, Pembroke Pines, Riverview, Eastlake, McKinney, Hualapai Way - Las Vegas, Gilbert). The separate assets of these encumbered properties are not available to pay our other debts. (12) This variable rate loan is encumbered by a pledge of 49% of the equity interests in our property-owning special purpose entities, other than those encumbered by the CMBS SASB Loan (13) We have a $161.2 million notional interest rate swap whereby LIBOR is fixed at approximately 2.6% until August 1, 2020. Subsequent to September 30, 2019, in connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of this interest rate swap which required a settlement payment of approximately $0.6 million. (14 ) This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Stoney Creek loan was assumed in the SSGT Mergers and had a balance of approximately $5 million USD as of the SSGT Mergers date. The Stoney Creek loan is secured by a first lien deed of trust on the Stoney Creek property and all improvements thereto, is cross-collateralized with the Torbarrie property, and is guaranteed by the Company. The amount shown above is in USD based on the foreign exchange rate in effect as of September 30, 2019. (15 ) This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Torbarrie loan was assumed in the SSGT Mergers and had no outstanding balance as of the date of the SSGT Mergers. The Torbarrie loan is a construction loan, which allows for borrowings up to approximately $10.3 million CAD and is The weighted average interest rate on our consolidated debt as of September 30, 2019 was approximately 4.9%. We are subject to certain restrictive covenants relating to the outstanding debt. As of September 30, 2019, we were in compliance with all such covenants. On January 24, 2019, in conjunction with the SSGT Mergers, we, through certain wholly-owned special purpose entities, entered into various financings (“SSGT Merger Financings”), as follows: Merger Financings Principal Borrowing as of Merger Date CMBS SASB Loan $ 235,000,000 CMBS Loan 104,000,000 Secured Loan 89,178,000 Senior Term Loan 72,000,000 Total $ 500,178,000 The proceeds from the SSGT Merger Financings were primarily used to facilitate the SSGT Mergers as previously described, including the payment of the SSGT merger consideration and the repayment, in full, of certain of our debt, as follows: Merger Financings Principal Repaid Raleigh/Myrtle Beach promissory note $ 11,862,471 Amended KeyBank Credit Facility 98,782,500 Oakland and Concord loan 19,443,753 $11M KeyBank Subordinate Loan 11,000,000 Total $ 141,088,724 In conjunction with the SSGT Merger Financings, we recognized a loss on extinguishment of debt of approximately $1.5 million, primarily attributable to prepayment penalties related to the CMBS SASB Loan This loan is a $235 million commercial mortgage-backed securities (“CMBS”), single-asset/single-borrower (“SASB”) financing (the “CMBS SASB Loan”) with KeyBank, National Association (“KeyBank”) and Citi Real Estate Funding Inc. or its affiliates (“Citibank”), as lender (together, the “CMBS SASB Lenders”), comprised of (A) a mortgage loan in the amount of $180 million (the “CMBS SASB Mortgage Loan”) and (B) a mezzanine loan in the amount of $55 million (the “CMBS SASB Mezzanine Loan”). The CMBS SASB Mortgage Loan is secured by a first mortgage or deed of trust on each of 29 wholly owned properties (the “CMBS SASB Properties”), and the CMBS SASB Mezzanine Loan is secured by a pledge of the equity interests in the 29 special purpose entities that own the CMBS SASB Properties. Each loan has a maturity date of February 9, 2022, which may, in certain circumstances, be extended at the option of the respective borrower for two consecutive terms of one year each, as set forth in the respective loan agreement (collectively, the “CMBS SASB Loan Agreements”). Monthly payments due under the CMBS SASB Loan Agreements are interest-only, with the full principal amount becoming due and payable on the respective maturity date. The amounts outstanding under the CMBS SASB Loan Agreements bear interest at an annual rate equal to LIBOR plus 3%. In addition, pursuant to the requirements of the CMBS SASB Loan Agreements: (a) the borrower with respect to the CMBS SASB Mortgage Loan has purchased an interest rate cap with a notional amount of $180 million, with an effective date of January 24, 2019, whereby LIBOR is capped at 3% through February 15, 2022 and (b) the borrower with respect to the CMBS SASB Mezzanine Loan has purchased an interest rate cap with a notional amount of $55 million, with an effective date of January 24, 2019, whereby LIBOR is capped at 3% through February 15, 2022. On June 7, 2019, to effectively terminate our $180 million and $55 million existing interest rate caps, we sold an offsetting interest rate cap with a notional amount of $235 million, whereby LIBOR is capped at 3% through February 15, 2022. We simultaneously entered into an interest rate swap with a notional amount of $235 million, whereby LIBOR is fixed at 1.79% through February 15, 2022. None of the CMBS SASB Loan may be prepaid, in whole or in part, without satisfying certain conditions as set forth in the respective CMBS SASB Loan Agreements, such as the payment of a spread maintenance premium if the prepayment is made within the first two years. Thereafter the CMBS SASB Loan may be prepaid in whole or in part at par without penalty. The loan documents for the CMBS SASB Loan contain: customary affirmative, negative and financial covenants; agreements; representations; warranties and borrowing conditions; reserve requirements and events of default all as set forth in such loan documents. In addition, and pursuant to the terms of the limited recourse guaranties, with respect to the CMBS SASB Mortgage Loan (the “CMBS SASB Mortgage Loan Guaranty”), and with respect to the CMBS SASB Mezzanine Loan (the “CMBS SASB Mezzanine Loan Guaranty” and collectively the “CMBS SASB Guarantees”), each dated January 24, 2019, in favor of the CMBS SASB Lenders, the Company serves as a non-recourse guarantor with respect to each of the CMBS SASB Mortgage Loan and the CMBS SASB Mezzanine Loan and is subject to certain net worth and liquidity requirements, each as described in the CMBS SASB Guarantees. CMBS Loan The CMBS loan is a $104 million CMBS financing with KeyBank as lender (the “CMBS Lender”) pursuant to a mortgage loan (the “CMBS Loan”), and The amounts outstanding under the CMBS Loan bear interest at an annual fixed rate equal to 5%. Commencing two years after securitization, the CMBS Loan may be defeased in whole, but not in part, subject to certain conditions as set forth in the CMBS Loan Agreement. The loan documents for the CMBS Loan contain: customary affirmative, negative and financial covenants; agreements; representations; warranties and borrowing conditions; reserve requirements and events of default all as set forth in such loan documents. In addition, and pursuant to the terms of the limited recourse guaranty dated January 24, 2019, in favor of the CMBS Lender, the Company serves as a non-recourse guarantor with respect to the CMBS Loan. Secured Loan This represents secured financing with KeyBank, Fifth Third Bank (“Fifth Third”), and SunTrust Bank (“SunTrust”) as equal co-lenders (the “Secured Lenders”) for an amount up to approximately $96.4 million pursuant to a mortgage loan (the “Secured Loan”). Subsequent to September 30, 2019, in connection with the sale of our San Antonio II property, we paid off approximately $9.9 million of the Secured Loan. See Note 14 – Subsequent Events for further detail. The amounts outstanding under the Secured Loan Agreement bear interest at an annual rate equal to LIBOR plus 2.5%. On January 24, 2019, the borrowers entered into an interest rate swap arrangement with a notional amount of approximately $89.2 million, such that LIBOR is fixed at approximately 2.6% until August 1, 2020. On October 29, 2019, in connection with the settlement of the Senior Term Loan, we restructured this swap to reduce the notional amount to approximately $85.5 million, an amount equivalent to the then outstanding principal on the Secured Loan. The loan documents for the Secured Loan contain: customary affirmative, negative and financial covenants; agreements; representations; warranties and borrowing conditions; reserve requirements and events of default all as set forth in such loan documents. In particular, the Secured Loan Agreement imposes certain requirements on the Company such as a total leverage ratio, tangible net worth and liquidity requirements, fixed charge coverage ratios and limits on the amount of unhedged variable rate debt exposure. In addition, and pursuant to the terms of the full recourse guaranty (the “Secured Loan Guaranty”), dated January 24, 2019, in favor of the Secured Lenders, we, along with our Operating Partnership serve as full recourse guarantors with respect to the Secured Loan. Senior Term Loan W e along with our Operating Partnership entered into a financing for an amount up to $87.7 million with KeyBank and SunTrust, as co-lenders (the “Senior Term Lenders”), pursuant to a senior term loan (the “Senior Term Loan”). The Senior Term Loan is secured by a pledge of 49% of the equity interests in our property-owning special purpose entities, other than those that own the CMBS SASB Properties. The net proceeds from certain capital events (after payment of transaction costs) must be applied to repayment of the Senior Term Loan, except in certain transactions whereby up to $50 million in equity issuances by us and our Operating Partnership may be excluded (the “Capital Event Net Proceeds”). In addition, the Senior Term Loan is secured by a pledge of the Capital Event Net Proceeds. The Senior Term Loan was made pursuant to a loan agreement with a maturity date of January 24, 2022 (the “Senior Term Loan Agreement”). Monthly payments due under the Senior Term Loan Agreement are interest-only, with the full principal amount becoming due and payable on the maturity date. On January 24, 2019, an initial borrowing of $72.0 million was made under the Senior Term Loan with the right to draw an additional $15.7 million as set forth in the Senior Term Loan Agreement. During the nine months ended September 30, 2019, we drew a total of an additional $14.3 million, increasing our outstanding balance to $86.3 million as of September 30, 2019. The amounts outstanding under the Senior Term Loan Agreement bear interest at an annual rate equal to LIBOR plus 4.25%. On January 24, 2019, we entered into an interest rate swap arrangement with a notional amount of $72 million, such that LIBOR is fixed at approximately 2.6% until August 1, 2020. The Senior Term Loan may be prepaid at any time, subject to certain conditions as set forth in the Senior Term Loan Agreement. The loan documents for the Senior Term Loan contain: customary affirmative, negative and financial covenants; agreements; representations; warranties and borrowing conditions; reserve requirements and events of default all as set forth in such loan documents. In particular, the Senior Loan Agreement imposes certain requirements such as a total leverage ratio, tangible net worth and liquidity requirements, fixed charge coverage ratios and limits on the amount of unhedged variable rate debt exposure. The Senior Term Loan is fully recourse to us and our Operating Partnership. The Senior Term Loan was paid off in full on October 29, 2019 in connection with the issuance of Series A Preferred Stock. See Note 14 – Subsequent Events for further detail. Canadian CitiBank Loan On October 11, 2018, we, through 10 special purpose entities wholly owned by our Operating Partnership, entered into a loan agreement with The CitiBank Loan Agreement is a term loan that matures on October 9, 2020, which may, in certain circumstances, be extended at our option for three consecutive terms of one year each. Monthly payments due under the CitiBank Loan Agreement are interest-only, with the full principal amount becoming due and payable on the maturity date. The amounts outstanding under the CitiBank Loan Agreement bear interest at a rate equal to the sum of the “CDOR” (as defined in the CitiBank Loan Agreement) and 2.25%. If we exercise our third extension option, the interest rate shall be increased by 0.25%. In addition, pursuant to the requirements of the CitiBank Loan Agreement, we have purchased interest rate caps with a combined notional amount of $112 million CAD, whereby the CDOR is capped at 3.00% through October 15, 2021. Amended KeyBank Credit Facility On December 22, 2015, we, through our Operating Partnership, and certain affiliated entities entered into an amended and restated revolving credit facility (the “Amended KeyBank Credit Facility”) with KeyBank National Association (“KeyBank”), as administrative agent and KeyBanc Capital Markets, LLC, as the sole book runner and sole lead arranger, and Texas Capital Bank, N.A., and Comerica Bank as co-lenders. e amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019 and reduce the maximum borrowing capacity from $145 million to $110 million. The following table presents the future principal payment requirements on outstanding debt as of September 30, 2019: 2019 (1) $ 729,326 2020 (1) 86,251,637 2021 (1) 17,791,959 2022 419,576,829 2023 6,176,525 2024 and thereafter 293,925,957 Total payments (2) 824,452,233 Premium on secured debt, net 625,267 Debt issuance costs, net (9,758,342 ) Total $ 815,319,158 (1) The amounts reflected above include the requisite principal payments on the KeyBank Tenant Program Loan, such that the amount outstanding on the KeyBank Tenant Program Loan as of the end of each respective period is equal to the associated maximum balance described in Note 4. (2) On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 7. Derivative Instruments Interest Rate Derivatives Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate swaps and caps as part of our interest rate risk management strategy. The effective portion of the change in the fair value of the derivative that qualifies as a cash flow hedge is recorded in accumulated other comprehensive income (“AOCI”) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. We do not use derivatives for trading or speculative purposes. Derivatives not designated as hedges are not speculative and are used to manage our exposure to interest rate movements and other identified risks but we have elected not to apply hedge accounting. Changes in the fair value of interest rate derivatives not designated in hedging relationships are recorded in other income (expense) as income within our consolidated statements of operations and was approximately $20,000 for both the three and nine months ended September 30, 2019. Foreign Currency Hedges Our objectives in using foreign currency derivatives are to add stability to potential fluctuations in exchange rates between foreign currencies and the U.S. dollar and to manage our exposure to exchange rate movements. To accomplish this objective, we use foreign currency forwards and foreign currency options as part of our exchange rate risk management strategy. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into the forward contract and holding it to maturity, we are locked into a future currency exchange rate in an amount equal to and for the term of the forward contract. A foreign currency option contract is a commitment by the seller of the option to deliver, solely at the option of the buyer, a certain amount of currency at a certain price on a specific date. For derivatives designated as net investment hedges, the changes in the fair value of the derivatives are reported in accumulated other comprehensive income. Amounts are reclassified out of accumulated other comprehensive income into earnings when the hedged net investment is either sold or substantially liquidated. The following table summarizes the terms of our derivative financial instruments as of September 30, 2019: Notional Amount Strike Effective or Date Assumed Maturity Interest Rate Swaps: LIBOR Swap $ 161,178,000 (3) 2.61 % January 24, 2019 August 1, 2020 LIBOR Swap 235,000,000 1.79 % June 15, 2019 February 15, 2022 Interest Rate Cap: CDOR Cap $ 99,300,000 (1) 3.00 % October 11, 2018 October 15, 2021 CDOR Cap 1,000,000 (1) 3.00 % March 28, 2019 October 15, 2021 CDOR Cap 11,700,000 (1) 3.00 % May 28, 2019 October 15, 2021 Foreign Currency Option: Denominated in CAD $ 95,000,000 (1)(2) 1.372 July 8, 2019 December 9, 2019 (1) (2) (3) On March 28, 2018 we settled our existing $101 million CAD foreign currency forward contract, receiving a net settlement of approximately $2.2 million and simultaneously entered into a $90 million CAD foreign currency forward. We settled the $90 million CAD foreign currency forward on January 25, 2019, receiving a net settlement of approximately $2.1 million and simultaneously entered into a $95 million CAD foreign currency forward. On July 8, 2019 we settled the $95 million CAD foreign currency forward, paying a net settlement of approximately $0.6 million and simultaneously entered into a $95 million CAD currency option. A portion of our gain (loss) from our settled and unsettled foreign currency hedges is recorded net in foreign currency hedge contract gain (loss) in our consolidated statements of comprehensive loss, and a loss of approximately $13,000 and $0.6 million related to the ineffective portion is recorded in other income (expense) within our consolidated statements of operations for the three and nine months ended September 30, 2019, respectively. The following table summarizes the terms of our derivative financial instruments as of December 31, 2018: Notional Amount Strike Effective Date Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,483,127 (2) 3.95 % May 18, 2016 April 10, 2023 Interest Rate Cap: CDOR Cap $ 99,300,000 (1) 3.00 % October 11, 2018 October 15, 2021 Foreign Currency Forward: Denominated in CAD $ 90,000,000 (1) 1.2846 March 28, 2018 January 28, 2019 (3) (1) Notional amount shown is denominated in CAD. ( 2) The Oakland and Concord loan interest rate swap was settled on January 24, 2019 in conjunction with the SSGT Mergers. ( 3) We settled this foreign currency forward on January 25, 2019 and received a settlement of approximately $2.1 million. The following table presents a gross presentation of the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets as of September 30, 2019 and December 31, 2018: Asset/Liability Derivatives Fair Value Balance Sheet Location September 30, 2019 December 31, 2018 Interest Rate Swaps Other assets $ — $ 361,802 Accounts payable and accrued liabilities 3,147,573 — Interest Rate Caps Other assets $ 59,358 $ 87,808 Accounts payable and accrued liabilities 25,611 — Foreign Currency Hedges Other assets $ 65,652 $ 4,016,806

Segment Disclosures

Segment Disclosures	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Disclosures	Note 8. Segment Disclosures We operate in two reportable business segments: (i) self storage operations and (ii) our Managed REIT Platform business. Management evaluates performance based upon property net operating income (“NOI”). For our self storage operations, NOI is defined as leasing and related revenues, less property level operating expenses. NOI for the Company’s Managed REIT Platform business represents Managed REIT Platform revenues less Managed REIT Platform expenses. The following table summarizes information for the reportable segments for the three and nine months ended September 30, 2019 below: Three Months Ended September 30, 2019 Managed REIT Corporate Self Storage Platform and Other Total Revenues: Self storage rental revenue $ 25,669,615 $ — $ — $ 25,669,615 Ancillary operating revenue 1,188,934 — — 1,188,934 Managed REIT Platform revenue — 1,192,665 — 1,192,665 Reimbursable costs from Managed REITs — 1,536,800 — 1,536,800 Total revenues 26,858,549 2,729,465 — 29,588,014 Operating expenses: Property operating expenses 9,655,599 — — 9,655,599 Managed REIT Platform expense — 1,248,665 — 1,248,665 Reimbursable costs from Managed REITs — 1,536,800 — 1,536,800 General and administrative — — 3,519,557 3,519,557 Depreciation 7,470,184 — 169,006 7,639,190 Intangible amortization expense 2,503,987 1,237,059 — 3,741,046 Contingent earnout expense — — 300,000 300,000 Self administration transaction expenses — — 107,100 107,100 Other property acquisition expenses 25,529 — — 25,529 Total operating expenses 19,655,299 4,022,524 4,095,663 27,773,486 Operating income 7,203,250 (1,293,059 ) (4,095,663 ) 1,814,528 Other income (expense): Interest expense (10,214,822 ) — (46,114 ) (10,260,936 ) Interest expense – accretion of fair market value of secured debt 33,191 — — 33,191 Interest expense – debt issuance costs (1,082,543 ) — — (1,082,543 ) Other (106,450 ) 60,631 — (45,819 ) Net loss $ (4,167,374 ) $ (1,232,428 ) $ (4,141,777 ) $ (9,541,579 ) Nine Months Ended September 30, 2019 Managed REIT Corporate Self Storage Platform and Other Total Revenues: Self storage rental revenue $ 74,056,235 $ — $ — $ 74,056,235 Ancillary operating revenue 2,589,985 — — 2,589,985 Managed REIT Platform revenue — 1,221,727 — 1,221,727 Reimbursable costs from Managed REITs — 1,583,909 — 1,583,909 Total revenues 76,646,220 2,805,636 — 79,451,856 Operating expenses: Property operating expenses 26,630,201 — — 26,630,201 Property operating expenses – affiliates 6,605,670 — — 6,605,670 Managed REIT Platform expense — 1,259,234 — 1,259,234 Reimbursable costs from Managed REITs — 1,583,909 — 1,583,909 General and administrative — — 7,000,627 7,000,627 Depreciation 21,750,206 — 177,902 21,928,108 Intangible amortization expense 6,524,347 1,298,007 — 7,822,354 Contingent earnout expense — — 300,000 300,000 Self administration transaction expenses — — 1,595,371 1,595,371 Acquisition expenses – affiliates 84,061 — — 84,061 Other property acquisition expenses 109,765 — — 109,765 Total operating expenses 61,704,250 4,141,150 9,073,900 74,919,300 Operating income 14,941,970 (1,335,514 ) (9,073,900 ) 4,532,556 Other income (expense): Interest expense (28,537,117 ) — (47,623 ) (28,584,740 ) Interest expense – accretion of fair market value of secured debt 98,850 — — 98,850 Interest expense – debt issuance costs (2,997,801 ) — — (2,997,801 ) Net loss on extinguishment of debt (1,487,867 ) — — (1,487,867 ) Gain resulting from acquisition of unconsolidated affiliates 8,017,353 — — 8,017,353 Other (414,871 ) 62,652 — (352,219 ) Net loss $ (10,379,483 ) $ (1,272,862 ) $ (9,121,523 ) $ (20,773,868 ) The following table summarizes our total assets by segment: Segments September 30, 2019 Self Storage $ 1,139,087,776 Managed REIT Platform 29,739,174 Corporate and Other (1) 110,835,320 Total assets $ 1,279,662,270 (1) We are still in the process of gathering certain additional information in order to finalize our assessment of the fair value of the consideration as well as the assets and liabilities acquired in the Self Administration Transaction, thus the provisional measurements are subject to change. Additionally, we have not completed our allocation of intangible assets to the reportable segments; therefore such amounts were included in Corporate and Other as of September 30, 2019 in the above.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 9. Related Party Transactions Through the closing of the Self Administration Transaction on June 28, 2019, we incurred expenses under the following advisory and property management agreements; commencing on such closing and continuing thereafter we will no longer incur such expenses. The Dealer Manager Agreement and the Transfer Agent Agreement described below were not impacted by the Self Administration Transaction. Fees to Affiliates Our Advisory Agreement with our Former External Advisor, our dealer manager agreement, as amended ("Dealer Manager Agreement") with our Dealer Manager, our Property Management Agreements with our Former External Property Managers and our Transfer Agent Agreement with our Transfer Agent entitle such affiliates to specified fees upon the provision of certain services with regard to the Offering and investment of funds in real estate properties, among other services, as well as certain reimbursements, as described below . Advisory Agreement Prior to the Self Administration Transaction we did not have any employees. Our Former External Advisor was primarily responsible for managing our business affairs and carrying out the directives of our board of directors. Our Former External Advisor received various fees and expenses under the terms of our Advisory Agreement. As a result of the Self Administration Transaction, we acquired approximately 350 self storage professionals and other personnel and now perform such services on our own behalf. Our Advisory Agreement also required our Former External Advisor to reimburse us to the extent that offering expenses, including sales commissions, dealer manager fees, stockholder servicing fees and organization and offering expenses, were in excess of 15% of gross proceeds from the Offering. However, subsequent to the termination of our Primary Offering on January 9, 2017, we determined offering expenses were not in excess of 15% of gross proceeds from the Offering, and thus there was no reimbursement. Our Former External Advisor received acquisition fees equal to 1.75% of the contract purchase price of each property we acquired plus reimbursement of any acquisition expenses incurred by our Former External Advisor. Our Former External Advisor also received a monthly asset management fee equal to 0.05208%, which is one-twelfth of 0.625%, of our aggregate asset value, as defined in the Advisory Agreement. Under our Advisory Agreement, our Former External Advisor was entitled to receive disposition fees in an amount equal to the lesser of (i) one-half of the competitive real estate commission or (ii) 1% of the contract sale price for each property we sold, as long as our Former External Advisor provided substantial assistance in connection with the sale. The total real estate commissions paid (including the disposition fee paid to our Advisor) was limited to the lesser of a competitive real estate commission or an amount equal to 6% of the contract sale price of the property. Our Former External Advisor was also entitled to various subordinated distributions pursuant to our Operating Partnership Agreement if we (1) listed our shares of common stock on a national exchange, (2) terminated our Advisory Agreement (other than a voluntary termination), (3) liquidated our portfolio, or (4) entered into an Extraordinary Transaction, as it was defined in the Operating Partnership Agreement. Pursuant to the Advisory Agreement, our Former External Advisor was entitled to reimbursement of our Former External Advisor’s direct and indirect costs of providing administrative and management services to us. Pursuant to the Advisory Agreement, our Former External Advisor was obligated to pay or reimburse us the amount by which our aggregate annual operating expenses, as defined, exceeded the greater of 2% of our average invested assets or 25% of our net income, as defined, unless a majority of our independent directors determined that such excess expenses were justified based on unusual and non-recurring factors. Dealer Manager Agreement In connection with our Primary Offering, our Dealer Manager received a sales commission of up to 7.0% of gross proceeds from sales of Class A Shares and up to 2.0% of gross proceeds from the sales of Class T Shares in the Primary Offering and a dealer manager fee up to 3.0% of gross proceeds from sales of both Class A Shares and Class T Shares in the Primary Offering under the terms of the Dealer Manager Agreement. In addition, our Dealer Manager receives an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% Affiliated Dealer Manager SAM owns a 15% non-voting equity interest in our Dealer Manager. Affiliates of our Dealer Manager own limited partnership interests in our Operating Partnership. Transfer Agent Agreement SAM is the owner and manager of our Transfer Agent, which is a registered transfer agent with the SEC. Pursuant to our transfer agent agreement, our Transfer Agent provides transfer agent and registrar services to us. These services are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent, including, but not limited to: providing customer service to our stockholders, processing the distributions and any servicing fees with respect to our shares and issuing regular reports to our stockholder. Our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. We believe that our Transfer Agent, through its knowledge and understanding of the direct participation program industry which includes non-traded REITs, is particularly suited to provide us with transfer agent and registrar services. Our Transfer Agent also conducts transfer agent and registrar services for other non-traded REITs sponsored by SRA. It is the duty of our board of directors to evaluate the performance of our Transfer Agent. In connection with the engagement of our Transfer Agent, we paid a one-time initial setup fee of $50,000. In addition, the other fees to be paid to our Transfer Agent are based on a fixed quarterly fee, one-time account setup fees and monthly open account fees. In addition, we will reimburse our Transfer Agent for all reasonable expenses or other changes incurred by it in connection with the provision of its services to us, and we will pay our Transfer Agent fees for any additional services we may request from time to time, in accordance with its rates then in effect. Upon the request of our Transfer Agent, we may also advance payment for substantial reasonable out-of-pocket expenditures to be incurred by it. The initial term of the transfer agent agreement is three years, which term will be automatically renewed for one year successive terms, but either party may terminate the transfer agent agreement upon 90 days’ prior written notice. In the event that we terminate the transfer agent agreement, other than for cause, we will pay our transfer agent all amounts that would have otherwise accrued during the remaining term of the transfer agent agreement; provided, however, that when calculating the remaining months in the term for such purposes, such term is deemed to be a 12 month period starting from the date of the most recent annual anniversary date. Property Management Agreements Prior to the Self Administration Transaction our properties were managed by our Former External Property Managers pursuant to property management agreements Pursuant to our amended property management agreements, our Former External Property Managers received: (i) a monthly management fee for each property equal to the greater of $3,000 or 6% of the gross revenues from the properties plus reimbursement of the property manager’s costs of managing the properties and (ii) a construction management fee equal to 5% of the cost of construction or capital improvement work in excess of $10,000. In addition, we had agreed with our Former External Property Managers or an affiliate to share equally in the net revenue attributable to the sale of Tenant Programs at our properties. With respect to each new property we acquired for which we entered into a property management agreement with our Former External Property Managers we paid our Former External Property Managers a one-time start-up fee in the amount of $3,750. Our self storage properties located in Canada were subject to separate property management agreements with our Former External Property Managers on terms substantially the same as the amended property management agreements described above. All of our properties in the United States and Canada are operated under the “SmartStop® Self Storage” brand, which as a result of the Self Administration Transaction we now own. Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2018 and the nine months ended September 30, 2019, as well as any related amounts payable as of December 31, 2018 and September 30, 2019: Year Ended December 31, 2018 Nine Months Ended September 30, 2019 Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 2,199,596 $ 2,336,075 $ 209,385 $ 975,985 $ 1,185,370 $ — Transfer Agent fees 352,300 302,839 49,461 324,943 374,404 — Asset management fees 5,445,528 5,445,528 — 3,622,558 3,622,558 — Property management fees 4,809,106 4,809,106 — 2,983,111 2,983,111 — Acquisition expenses 72,179 72,179 — 80,102 80,102 — Capitalized Acquisition costs 48,664 48,664 — 235,932 235,932 — Self Administration Transaction working capital true-up — — — 493,785 493,785 — Additional paid-in capital Stockholder servicing fee (1) — 675,049 1,944,991 — 502,961 1,442,030 Total $ 12,927,373 $ 13,689,440 $ 2,203,837 $ 8,716,416 $ 9,478,223 $ 1,442,030 (1) th Please see Note 3 – Real Estate Facilities and Note 4 – Self Administration Transaction for detail regarding additional related party transactions. Tenant Programs W e may offer a tenant insurance plan, tenant protection plan or similar program (collectively “Tenant Programs”) to customers at our properties pursuant to which we agreed with our Former External Property Manager or an affiliate to share equally in the net revenue attributable to the sale of Tenant Programs at our properties. In order to protect the interest of the Former External Property Manager in receiving such revenues, we and an affiliate of our Former External Property Manager agreed to transfer our respective rights in such Tenant Programs revenue to a joint venture owned 50% by our TRS subsidiary and through the date of the Self Administration Transaction 50% by our Former External Property Manager’s affiliate (the “Former PM Affiliate”). Under the terms of the joint venture agreement, the TRS received 50% 50 . In addition, we In connection with the Self Administration Transaction we now wholly-own both such Tenant Programs joint venture entities. For the three and nine months ended September 30, 2019, we recorded net revenues of approximately $1.0 million and $2.0 million, respectively, related to Tenant Programs which was included in ancillary operating revenue in the consolidated statements of operations. For the three and nine months ended September 30, 2018, we recorded net revenues of approximately $0.4 million and $1.1 million, respectively, related to Tenant Programs which was included in ancillary operating revenue in the consolidated statements of operations. Storage Auction Program In connection with the Self Administration Transaction we now own a minority interest in a company that owns 50% of an online auction company (the “Auction Company”) that serves as a web portal for self storage companies to post their auctions for the contents of abandoned storage units online instead of using live auctions conducted at the self storage facilities. The Auction Company receives a service fee for such services. During the three and nine months ended September 30, 2019, we paid approximately $11,000 and $34,000, respectively, in fees to the Auction Company related to our properties. During the three and nine months ended September 30, 2018, we paid approximately $15,000 and $30,000, respectively, in fees to the Auction Company related to our properties. Our properties receive the proceeds from such online auctions Acquisition of Self Storage Platform from SmartStop Asset Management, LLC and Other Transactions As a result of the Self Administration Transaction, the advisor and property manager entities of SST IV and SSGT II, became our indirect subsidiaries. As a result, we are entitled to receive various fees and expense reimbursements under the terms of the SST IV and SSGT II advisory and property management agreements as described below. Advisory Agreement Fees Our indirect subsidiaries, Strategic Storage Advisor IV, LLC, the advisor to SST IV (the “SST IV Advisor”), and SS Growth Advisor II, LLC, the advisor to SSGT II (the “SSGT II Advisor”), are entitled to receive various fees and expense reimbursements under the terms of the SST IV and SSGT II advisory agreements. SST IV Advisory Agreement The SST IV Advisor provides acquisition and advisory services to SST IV pursuant to an advisory agreement (the “SST IV Advisory Agreement”). SST IV is required to reimburse SST IV Advisor for organization and offering costs under the SST IV Advisory Agreement; however, the SST IV Advisor will fund, and will not be reimbursed for 1.15% of the gross offering proceeds from the sale of class W shares sold in the SST IV offering. Such amounts for the three and nine months ended September 30, 2019 totaled approximately $30,000. The SST IV Advisor will be required to reimburse SST IV within 60 days after the end of the month in which the SST IV public offering terminates to the extent SST IV paid or reimbursed organization and offering costs (excluding sales commissions and dealer manager fees) in excess of 3.5% of the gross offering proceeds from the SST IV offering. The SST IV Advisory Agreement also requires the SST IV Advisor to reimburse SST IV to the extent that offering expenses, including sales commissions, dealer manager fees and organization and offering expenses, are in excess of 15% of gross proceeds from the SST IV offering. The SST IV Advisor will also receive a monthly asset management fee equal to 0.0833%, which is one-twelfth of 1%, of SST IV’s aggregate asset value, as defined. The SST IV Advisor may potentially also be entitled to various subordinated distributions under the SST IV operating partnership agreement if SST IV (1) lists its shares of common stock on a national exchange, (2) terminates the SST IV Advisory Agreement, (3) liquidates its portfolio, or (4) enters into an Extraordinary Transaction, as defined in the SST IV operating partnership agreement. The SST IV Advisory Agreement provides for reimbursement of the SST IV Advisor’s direct and indirect costs of providing administrative and management services to SST IV. The SST IV Advisor will be required to pay or reimburse SST IV the amount by which SST IV’s aggregate annual operating expenses, as defined, exceed the greater of 2% of SST IV’s average invested assets or 25% of SST IV’s net income, as defined, unless a majority of SST IV’s independent directors determine that such excess expenses were justified based on unusual and non-recurring factors. SSGT II Advisory Agreement The SSGT II Advisor provides acquisition and advisory services to SSGT II pursuant to an advisory agreement (the “SSGT II Advisory Agreement”). In connection with the SSGT II private placement offering, SSGT II is required to reimburse the SSGT II Advisor for organization and offering costs from the SSGT II private offering pursuant to the SSGT II Advisory Agreement. The SSGT II Advisor will receive a monthly asset management fee equal to 0.1042%, which is one-twelfth of 1.25%, of SSGT II’s aggregate asset value, as defined. The SSGT II Advisor may also be potentially entitled to various subordinated distributions under SSGT II’s operating partnership agreement pursuant to the special limited partnership interest and its cash flow participation distribution rights. So long as the SSGT II Advisory Agreement has not been terminated (including by means of non-renewal), SSGT II is required to pay the SSGT II Advisor a distribution from its operating partnership (other than net sale proceeds), pursuant to a special limited partnership interest, equal to 10.0% of any amount distributed to stockholders in excess of the amount required to provide stockholders with an annual aggregate distribution equal to 5.0% (reflective of the weighted average purchase price per share), cumulative within the subject calendar year (as adjusted for partial periods outstanding). Such distribution will be reconciled and paid annually. The cash flow participation distribution may be payable in cash or operating partnership units (or any combination thereof), at the election of the SSGT II Advisor. The SSGT II Advisor may also be potentially entitled to various subordinated distributions under SSGT II’s operating partnership agreement if SSGT II (1) lists its shares of common stock on a national exchange, (2) terminates the SSGT II Advisory Agreement, (3) liquidates its portfolio, or (4) merges with another entity or enters into an Extraordinary Transaction, as defined in the SSGT II operating partnership agreement. The SSGT II Advisory Agreement provides for reimbursement of the SSGT II Advisor’s direct and indirect costs of providing administrative and management services to SSGT II. Property Management Agreements Our indirect subsidiaries, Strategic Storage Property Management IV, LLC and SS Growth Property Management II, LLC (collectively the “Managed REITs Property Managers”), are entitled to receive fees for their services in managing the properties owned by the Managed REITs pursuant to property management agreements entered into between the owner of the property and the applicable Managed REIT’s Property Manager. The Managed REIT’s Property Managers will receive a property management fee equal to 6% of the gross revenues from the properties, generally subject to a monthly minimum of $3,000 per property, plus reimbursement of the costs of managing the properties, and a one-time fee of $3,750 for each property acquired that would be managed by the Managed REITs Property Managers. Reimbursable costs and expenses include wages and salaries and other expenses of employees engaged in operating, managing and maintaining such properties. Pursuant to the property management agreements, we through our Operating Partnership employ the on-site staff for the Managed REITs’ properties. The SST IV property manager will be entitled to a construction management fee equal to 5% of the cost of a related construction or capital improvement work project in excess of $10,000. Summary of Fees and Revenue Related to the Managed REITs Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees recorded for the three and nine months ended September 30, 2019: Managed REIT Platform Revenues Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Property management agreement – SST IV $ 288,026 $ 296,300 Property management agreement – SSGT II 40,222 40,822 Advisory agreement – SST IV 490,844 506,470 Advisory agreement – SSGT II 117,380 121,942 Tenant Program revenue – SST IV 120,498 120,498 Tenant Program revenue – SSGT II 15,895 15,895 Other Managed REIT revenue 119,800 119,800 Total $ 1,192,665 $ 1,221,727 Reimbursable costs from affiliates includes reimbursement of both the SST IV and SSGT II Advisors’ direct and indirect costs of providing administrative and management services to the Managed REITs. Additionally, reimbursable costs includes reimbursement pursuant to the property management agreements for reimbursement of the costs of managing the Managed REITs’ properties, including wages and salaries and other expenses of employees engaged in operating, managing and maintaining such properties. As of September 30, 2019 we had receivables due from SST IV and SSGT II totaling approximately $79,000 and $34,000, respectively, which are included in investments in and advances to the Managed REITs line-item in our consolidated balance sheet. Such amounts included unpaid amounts relative to the above table, in addition to other direct routine expenditures of the Managed REITs that we directly funded. Administrative Services Agreement In connection with the Self Administration Transaction, on June 28, 2019, we along with our Operating Partnership, the TRS and SSA (collectively, the “Company Parties”) entered into an Administrative Services Agreement with SAM (the “Administrative Services Agreement”), pursuant to which the Company Parties will be reimbursed for providing certain operational and administrative services to SAM which may include, without limitation, accounting and financial support, IT support, HR support, advisory services and operations support, and administrative support as set forth in the Administrative Services Agreement and SAM will be reimbursed for providing certain operational and administrative services to the Company Parties which may include, without limitation, due diligence support, marketing, fulfillment and offering support, events support, insurance support, and administrative and facilities support. For the nine months ended September 30, 2019, we have paid SAM administrative service fees of approximately $0.8 million and have received reimbursements of approximately $0.2 million. For the three and nine months ended September 30, 2019, SAM has also paid approximately $50,000 to the Company Parties as an allocation of rent and overhead for the portion it occupies in the Ladera Office. Such agreement has a term of three years, and is subject to certain adjustments as defined in the agreement.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	Note 10. Stock Based Compensation We issue stock based compensation pursuant to the employee and director long-term incentive plan of SmartStop Self Storage REIT, Inc. (the “Plan”). Pursuant to the Plan, we are able to issue various forms of stock based compensation. To date we have only issued restricted stock grants, which are subject to a vesting period over which the restrictions are released and the stock is issued in book entry form to the grantee. During the vesting period, the grantee is not permitted to sell, transfer, pledge, encumber or assign shares of non-vested restricted stock granted under the Plan and the grantee does not have the ability to vote the shares. Any dividends accrued on non-vested shares will be paid, if and when the underlying restricted shares vest. Generally the shares vest over an approximate four-year period which begins on the date of grant. As of September 30, 2019, 5,625,628 shares were available for issuance under the Plan. We recorded approximately $161,000 and $208,000 of expense in general and administrative expense in our consolidated statements of operations related to restricted stock granted to employees and directors for the three and nine months ended September 30, 2019, respectively. As of September 30, 2019, there was approximately $2.5 million of total unrecognized compensation expense related to non-vested restricted stock awards. Such cost is expected to be recognized over a weighted-average period of 3.9 years. Restricted Stock Grants Shares Weighted-Average Grant-Date Fair Value Non-Vested at December 31, 2018 21,438 $ 10.38 Granted 249,062 9.48 Vested (7,625 ) 10.29 Non-Vested at September 30, 2019 262,875 $ 9.53

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Distribution Reinvestment Plan We have adopted an amended and restated distribution reinvestment plan that allows both our Class A and Class T stockholders to have distributions otherwise distributable to them invested in additional shares of our Class A and Class T Shares, respectively. The purchase price per share pursuant to our distribution reinvestment plan is equivalent to the estimated value per share approved by our board of directors and in effect on the date of purchase of shares under the plan. In conjunction with the board of directors’ declaration of a new estimated value per share of our common stock on June 26, 2019, beginning in July 2019, shares sold pursuant to our distribution reinvestment plan are sold at the estimated value per share of $10.66 per Class A Share and Class T Share. On November 30, 2016, we filed with the SEC a Registration Statement on Form S-3, which registered up to an additional $100.9 million in shares under our distribution reinvestment plan (our “DRP Offering”). We may amend or terminate the amended and restated distribution reinvestment plan for any reason at any time upon 10 days’ prior written notice to stockholders. No sales commissions, dealer manager fee, or stockholder servicing fee will be paid on shares sold through the amended and restated distribution reinvestment plan. Through the termination of our Offering on January 9, 2017, we had sold approximately 1.1 million Class A shares and 0.1 million Class T Shares through our original distribution reinvestment plan. As of September 30, 2019, we had sold approximately 3.7 million Class A Shares and approximately 0.6 million Class T Shares through our DRP Offering. Share Redemption Program We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. On August 26, 2019, our board of directors approved the suspension of our share redemption plan effective as of September 27, 2019, except with respect to redemption requests made in connection with the death or disability of a stockholder, redemption due to confinement to a long-term care facility, or other exigent circumstances. We may redeem the shares of stock presented for redemption for cash to the extent that such requests comply with the foregoing terms of our share redemption program and we have sufficient funds available to fund such redemption. Our board of directors may amend, suspend or terminate the share redemption program with 30 days’ notice to our stockholders. We may provide this notice by including such information in a Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to our stockholders. The complete terms of our share redemption program are described in our prospectus, and updated on Form 8-K filed with the SEC on August 28, 2019. The amount that we may pay to redeem stock for redemptions is the redemption price set forth in the following table which is based upon the number of years the stock is held: Number Years Held Redemption Price Less than 1 No Redemption Allowed 1 or more but less than 3 90.0% of Redemption Amount 3 or more but less than 4 95.0% of Redemption Amount 4 or more 100.0% of Redemption Amount At any time we are engaged in an offering of shares, the Redemption Amount for shares purchased under our share redemption program will always be equal to or lower than the applicable per share offering price. As long as we are engaged in an offering, the Redemption Amount shall be the lesser of the amount the stockholder paid for their shares or the price per share in the current offering. If we are no longer engaged in an offering, our board of directors will announce any redemption price adjustment and the time period of its effectiveness as a part of its regular communications with our stockholders. At any time the redemption price during an offering is determined by any method other than the offering price, if we have sold property and have made one or more special distributions to our stockholders of all or a portion of the net proceeds from such sales, the per share redemption price will be reduced by the net sale proceeds per share distributed to investors prior to the redemption date as a result of the sale of such property in the special distribution. Our board of directors will, in its sole discretion, determine which distributions, if any, constitute a special distribution. While our board of directors does not have specific criteria for determining a special distribution, we expect that a special distribution will only occur upon the sale of a property and the subsequent distribution of the net sale proceeds. There are several limitations on our ability to redeem shares under the share redemption program including, but not limited to: • Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” (as defined under the share redemption program) or bankruptcy, we may not redeem shares until the stockholder has held his or her shares for one year. • During any calendar year, we will not redeem in excess of 5% of the weighted-average number of shares outstanding during the prior calendar year. • The cash available for redemption is limited to the proceeds from the sale of shares pursuant to our distribution reinvestment plan, less any prior redemptions. • We have no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. For the year ended December 31, 2018, we received redemption requests totaling approximately $8.3 million (approximately 0.9 million shares), approximately $7.0 million of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $1.3 million included in accounts payable and accrued liabilities as of December 31, 2018 and fulfilled in January 2019. For the nine months ended September 30, 2019, we received redemption requests totaling approximately $4.4 million (approximately 450,000 shares), $4.0 million of which were fulfilled in April and July 2019, and approximately $0.4 million of which were included in accounts payable and accrued liabilities as of September 30, 2019, and fulfilled in October 2019. Operating Partnership Redemption Rights Generally, the limited partners of our Operating Partnership, excluding any limited partners with respect to their A-2 Units, have the right to cause our Operating Partnership to redeem their limited partnership units for cash equal to the value of an equivalent number of our shares, or, at our option, we may purchase their limited partnership units by issuing one share of our common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances that could cause us to lose our REIT election. Furthermore, limited partners may exercise their redemption rights only after their limited partnership units have been outstanding for one year. Additionally, the Class A-1 Units issued in connection with the Self Administration Transaction are subject to the general restrictions on transfer contained in the Operating Partnership Agreement. In addition, until the Lock-Up Expiration, the Class A-1 Units may not be sold, pledged, or otherwise transferred or encumbered except in certain limited circumstances set forth in the Contribution Agreement. The Class A-1 Units are otherwise entitled to all rights and duties of the Class A limited partnership units in the Operating Partnership, including cash distributions and the allocation of any profits or losses in the Operating Partnershi p . Other Contingencies From time to time, we are party to legal proceedings that arise in the ordinary course of our business. We are not aware of any legal proceedings of which the outcome is reasonably likely to have a material adverse effect on our results of operations or financial condition, nor are we aware of any such legal proceedings contemplated by governmental authorities.

Declaration of Distributions

Declaration of Distributions	9 Months Ended
	Sep. 30, 2019
Dividends [Abstract]
Declaration of Distributions	Note 12. Declaration of Distributions On September 20, 2019, our board of directors declared a distribution rate for the fourth quarter of 2019 of approximately $0.001644 per day per share on the outstanding shares of common stock payable to both Class A and Class T stockholders of record of such shares as shown on our books at the close of business on each day during the period, commencing on October 1, 2019 and continuing on each day thereafter through and including December 31, 2019. In connection with this distribution, after the stockholder servicing fee is paid, approximately $0.0014 per day will be paid per Class T share. Such distributions payable to each stockholder of record during a month will be paid the following month.

Selected Quarterly Data

Selected Quarterly Data	9 Months Ended
	Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Data	Note 13. Selected Quarterly Data The following is a summary of quarterly financial information for the periods shown below: Three months ended September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Total revenues $ 20,313,069 $ 20,187,215 $ 23,883,325 $ 25,980,517 $ 29,588,014 Total operating expenses $ 15,836,436 $ 15,808,549 $ 21,934,203 $ 25,211,611 $ 27,773,486 Operating income $ 4,476,633 $ 4,378,666 $ 1,949,122 $ 768,906 $ 1,814,528 Net loss $ (457,278 ) $ (1,159,075 ) $ (8,948,317 ) $ (2,283,972 ) $ (9,541,579 ) Net loss attributable to common stockholders $ (451,424 ) $ (1,158,694 ) $ (8,891,558 ) $ (2,212,445 ) $ (8,214,826 ) Net loss per Class A Share-basic and diluted $ (0.01 ) $ (0.02 ) $ (0.15 ) $ (0.04 ) $ (0.14 ) Net loss per Class T Share-basic and diluted $ (0.01 ) $ (0.02 ) $ (0.15 ) $ (0.04 ) $ (0.14 )

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events Distribution Reinvestment Plan Offering As of November 12, 2019, we have issued approximately 3.8 million Class A shares of our common stock and approximately 0.6 million Class T Shares of our common stock for gross proceeds of approximately $39.4 million and approximately $6.0 million, pursuant to our DRP Offering. Sale of San Antonio II The San Antonio II Property was acquired by us in the SSGT Mergers. On February 5, 2019, we executed a purchase and sale agreement with an unaffiliated third party for the sale of the self storage facility and industrial warehouse/office space we own in San Antonio, Texas (the “San Antonio II Property”). On October 18, 2019, we completed the sale of the San Antonio II Property for approximately $16.1 million, less closing costs. In connection with the sale of the San Antonio II Property, which was encumbered by the Secured Loan, we paid off approximately $9.9 million on the Secured Loan, and approximately $5.4 million on the Senior Term Loan. Series A Preferred Stock Purchase Agreement On October 29, 2019 (the “Commitment Date”), we entered into a preferred stock purchase agreement (the “Purchase Agreement”) with Extra Space Storage LP (the “Investor”), a subsidiary of Extra Space Storage Inc. (NYSE: EXR), pursuant to which the Investor committed to purchase up to $200 million in shares (the aggregate shares to be purchased, the “Shares”) of our new Series A Convertible Preferred Stock (the “Series A Preferred Stock”), in one or more closings (each, a “Closing,” and collectively, the “Closings”). The initial closing (the “Initial Closing”) in the amount of $150 million occurred on the Commitment Date. The Investor has committed to purchase up to an additional $50 million, at our option, within 12 months following the Initial Closing, subject to certain limitations. We will pay the Investor a fee of 0.25% per annum on the remaining commitment amount until drawn, or the 12-month anniversary of the Initial Closing. In connection with the Initial Closing, we filed articles supplementary to our Second Articles of Amendment and Restatement, which Upon any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of Series A Preferred Stock will be entitled to receive a payment equal to the greater of (i) aggregate purchase price of all outstanding Shares, plus any accrued and unpaid dividends (the “Liquidation Amount”) and (ii) the amount that that would have been payable had the Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to such liquidation. Subject to certain additional redemption rights, as described herein, we have the right to redeem the Series A Preferred Stock for cash at any time following the fifth anniversary of the Initial Closing. The amount of such redemption will be equal to the Liquidation Amount. Upon the listing of common stock on a national securities exchange (the “Listing”), we have the right to redeem any or all outstanding Series A Preferred Stock at an amount equal to the greater of (i) the amount that would have been payable had such Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to the Listing, and then all of such Shares were sold in the Listing, or (ii) the Liquidation Amount, plus a premium amount (the “Premium Amount”) of 10%, 8%, 6%, 4%, or 2% if redeemed prior to the first, second, third, fourth, or fifth anniversary dates of issuance, respectively, or 0% if redeemed thereafter, as set forth in the Articles Supplementary. Upon a change of control event, we have the right to redeem any or all outstanding Series A Preferred Stock at an amount equal to the greater of (i) the amount that would have been payable had the Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to such change of control or (ii) the Liquidation Amount, plus the Premium Amount, as set forth in the Articles Supplementary. In addition, subject to certain cure provisions, if we fail to maintain our status as a real estate investment trust, the holders of Series A Preferred Stock have the right to require us to repurchase the Series A Preferred Stock at an amount equal to the Liquidation Amount. At any time after the earlier to occur of (i) the second anniversary of the Initial Closing or (ii) 180 days after a Listing, the holders of Series A Preferred Stock have the right to convert any or all of the Series A Preferred Stock held by such holders into common stock at a rate per share equal to the quotient obtained by dividing the Liquidation Amount by the conversion price. The conversion price is $10.66, as may be adjusted in connection with stock splits, stock dividends and other similar transactions. The holders of Series A Preferred Stock are not entitled to vote on any matter submitted to a vote of our stockholders, except that in the event that the dividend for the Series A Preferred Stock has not been paid for at least four quarters (whether or not consecutive), the holders of Series A Preferred Stock have the right to vote together with our stockholders on any matter submitted to a vote of our stockholders, upon which the holders of the Series A Preferred Stock and holders of common stock shall vote together as a single class. The number of votes applicable to a share of Series A Preferred Stock will be equal to the number of shares of common stock a share of Series A Preferred Stock could have been converted into as of the record date set for purposes of such stockholder vote. This foregoing limited voting right shall cease when all past dividend periods have been paid in full. In addition, the affirmative vote of the holders of a majority of the outstanding shares of Series A Preferred Stock is required in certain customary circumstances, as well as other circumstances, such as (i) our real estate portfolio exceeding a leverage ratio of 60% loan-to-value, (ii) entering into certain transactions with our Executive Chairman as of the Commitment Date, or his affiliates, (iii) effecting a merger (or similar) transaction with an entity whose assets are not at least 80% self storage related and (iv) entering into any line of business other than self storage and ancillary businesses, unless such ancillary business represents revenues of less than 10% of our revenues for our last fiscal year. Pay Off of Indebtedness We used the proceeds from the Initial Closing to pay off approximately $95.4 million in debt, consisting of the then outstanding balance on the Senior Term Loan and the In connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of an interest rate swap which required a settlement payment of approximately $0.6 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
Principles of Consolidation	Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation.
Consolidation Considerations	Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of September 30, 2019, we were not a party to any other contracts/interests that would be deemed to be variable interest in VIEs other than our Tenant Programs joint ventures with SST IV and SSGT II which were acquired in the Self Administration Transaction, which are consolidated. As of December 31, 2018, we were not a party to any other contracts/interests that would be deemed to be variable interest in VIEs other than our Tenant Programs joint ventures and a real estate joint venture, both of which were accounted for under the equity method of accounting. In January 2019, we sold our interest in the real estate joint venture to SST IV, a REIT previously sponsored by SAM and now sponsored by SRA. We acquired 50% of the Tenant Programs joint venture in the Self Administration Transaction such that we now own 100% of such joint venture. Please see Note 3 – Real Estate Facilities for further discussion regarding the real estate joint venture and Note 9 – Related Party Transactions for further discussions regarding our Tenant Programs joint venture. Other than these joint ventures, we did not have any variable interest relationships with unconsolidated entities or financial partnerships as of December 31, 2018 Under the equity method, our investments in real estate joint ventures will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated investment.
Noncontrolling Interest in Consolidated Entities	Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership and the noncontrolling interests in our Tenant Programs joint ventures with SST IV and SSGT II in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partners, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interests are reflected as a noncontrolling interest in the accompanying consolidated balance sheets. Our other consolidated, non wholly-owned joint ventures are also reflected as noncontrolling interest. The noncontrolling interests shall be attributed their share of income and losses, even if that attribution results in a deficit noncontrolling interest balance.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions.
Restricted Cash	Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes, insurance and capital improvements in connection with the requirements of certain of our loan agreements. We may maintain restricted cash in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions.
Real Estate Purchase Price Allocation	Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs as of the acquisition date. The value of the tangible assets, consisting primarily of land and buildings is determined as if vacant . Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded approximately $13.6 million and none in intangible assets to recognize the value of in-place leases related to our acquisitions during the nine months ended September 30, 2019 and 2018, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business, as defined under current GAAP, are accounted for as asset acquisitions. During the nine months ended September 30, 2019 and 2018, our property acquisitions have not met the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. During the three months ended September 30, 2019 and 2018, we expensed approximately $26,000 and $570,000, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. During the nine months ended September 30, 2019 and 2018, we expensed approximately $194,000 and $850,000, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods.
Purchase Price Allocation for the Acquisition of a Business	Purchase Price Allocation for the Acquisition of a Business Should the initial accounting for an acquisition that meets the definition of a business be incomplete by the end of a reporting period that falls within the measurement period, we report provisional amounts in our financial statements. During the measurement period, we adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date and we record those adjustments to our financial statements. We apply those measurement period adjustments in the period in which the provisional amounts are finalized. As discussed in Note 4, the Self Administration Transaction is an acquisition of a business and the related amounts recorded as of September 30, 2019 are provisional and subject to change.
Evaluation of Possible Impairment of Long-Lived Assets	Evaluation of Possible Impairment of Long-Lived Assets
Real Estate Held for Sale	Real Estate Held for Sale We generally consider real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale is classified as “real estate held for sale” in the accompanying consolidated financial statements for the periods when it was held for sale. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results and related gains (losses) on sale of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations, consistent with current accounting guidance.
Goodwill Valuation	Goodwill Valuation We have recorded goodwill of approximately $78.4 million as a result of the Self Administration Transaction. Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible assets and other intangible assets acquired. Goodwill is allocated to various reporting units, as applicable and is not amortized. We will perform an annual impairment test for goodwill and between annual tests, we will evaluate the recoverability of goodwill whenever events or changes in circumstances indicate that the carrying amount of goodwill may not be fully recoverable. In our impairment tests of goodwill, we will first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If based on this assessment, management determines that the fair value of the reporting unit is not less than its carrying amount, then performing the additional two-step impairment test is unnecessary. If the carrying amount of goodwill exceeds its fair value, an impairment charge will be recognized.
Trademarks	Trademarks Trademarks are based on the value of our brands. Trademarks are valued using the relief from royalty method, which presumes that without ownership of such trademarks, we would have to make a stream of payments to a brand or franchise owner in return for the right to use their name. By virtue of this asset, we avoid any such payments and record the related intangible value of our ownership of the brand name. We used the following significant projections and assumptions to determine value under the relief from royalty method: revenues; royalty rate; tax expense; terminal growth rate; and discount rate. For the SmartStop ® ® We will evaluate whether any triggering events or changes in circumstances have occurred subsequent to our annual impairment test that would indicate an impairment condition may exist. If any change in circumstance or triggering event occurs, and results in a significant impact to our revenue and profitability projections, or any significant assumption in our valuations methods is adversely impacted, the impact could result in a material impairment charge in the future. In connection with the Self Administration Transaction, we recorded $19.8 million associated with the two primary trademarks acquired. Prior thereto we had no amounts recorded related to trademarks. Approximately $18.7 million of the original $19.8 ® ® ® The total estimated future amortization expense of the “Strategic Storage ®
Revenue Recognition	Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets. Our Managed REIT Platform revenue includes advisory, asset management, property management and other similar fees. Such fees are earned pursuant to the advisory and property management agreements with the Managed REITs. The fees are recognized in the periods during which the related services are performed and the amounts have been contractually earned. Revenue from such contracts is discussed further in Note 9 - Related Party Transactions.
Real Estate Facilities	Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use.
Depreciation of Real Property Assets	Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-40 years Site Improvements 7-10 years
Depreciation of Personal Property Assets	Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets.
Intangible Assets	Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of September 30, 2019, the gross amounts allocated to in-place lease intangibles was approximately $46.7 million and accumulated amortization of in-place lease intangibles totaled approximately $38.1 million. As of December 31, 2018, the gross amounts allocated to in-place lease intangibles were approximately $33.4 million and accumulated amortization of in-place lease intangibles totaled approximately $31.9 million. The total estimated future amortization expense of in-place lease intangible assets for the years ending December 31, 2019, 2020, 2021, 2022, 2023, and thereafter is approximately $2.2 million, $5.0 million, $0.1 million, $0.1 million, $0.1 million, and $1.1 million, respectively. In connection with the Self Administration Transaction, we allocated a portion of the consideration to the contracts that we acquired related to the Managed REITs and the customer relationships related to the Tenant Programs joint ventures. For these intangibles, we are amortizing such amounts on a straight-line basis over the estimated benefit period of the contracts and customer relationships. As of September 30, 2019, the gross amount allocated to the contracts and customer relationships was approximately $26.5 million and the accumulated amortization was approximately $1.5 million. The total estimated future amortization expense for such intangible assets for the years ending December 31, 2019, 2020, 2021, 2022, 2023 and thereafter is approximately $1.4 million, $5.7 million, $4.6 million, $4.6 million, $4.6 million, and $4.1 million, respectively.
Debt Issuance Costs	Debt Issuance Costs The net carrying value of costs incurred in connection with our former revolving credit facility was presented as debt issuance costs on our consolidated balance sheet as of December 31, 2018. Debt issuance costs were amortized on a straight-line basis over the term of the related loan, which was not materially different than the effective interest method. As of September 30, 2019 and December 31, 2018, accumulated amortization of debt issuance costs related to our former revolving credit facility totaled none and approximately $45,000, respectively. The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the balance sheet as a deduction from debt (see Note 6). Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2019 and December 31, 2018, accumulated amortization of debt issuance costs related to non-revolving debt totaled approximately $3.7 million and $1.0 million, respectively.
Offering Costs	Offering Costs We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10%
Foreign Currency Translation	Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All adjustments related to amounts classified as long term equity investments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Changes in equity investments not classified as long term are recorded in other income (expense) and represented a loss of approximately $0.2 million and none for the three months ended September 30, 2019 and 2018, respectively, and represented a gain of approximately $0.7 million and none for the nine months ended September 30, 2019 and 2018, respectively.
Redeemable Common Stock	Redeemable Common Stock We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program is limited to the number of shares we can repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in the accompanying consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. On August 26, 2019, our board of directors approved the suspension of our share redemption program, effective as of September 27, 2019, so that common shares are redeemable at the option of the holder only in connection with (i) death or disability of a stockholder, (ii) confinement to a long-term care facility, or (iii) other exigent circumstances For the year ended December 31, 2018, we received redemption requests totaling approximately $8.3 million (approximately 0.9 million shares), approximately $7.0 million of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $1.3 million included in accounts payable and accrued liabilities as of December 31, 2018 and fulfilled in January 2019. For the nine months ended September 30, 2019, we received redemption requests totaling approximately $4.4 million (approximately 450,000 shares), approximately $4.0 million of which were fulfilled in April and July 2019, and approximately $0.4 million of which were included in accounts payable and accrued liabilities as of September 30, 2019, and fulfilled in October 2019.
Accounting for Equity Awards	Accounting for Equity Awards Through September 30, 2019, we have only issued service based awards. The cost of such restricted stock awards is required to be measured based on the grant date fair value and the cost recognized over the relevant service period. We have assumed no forfeitures in recognizing these costs; any such forfeitures will be recognized upon occurrence and will reduce the previously recognized expenses.
Fair Value Measurements	Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions along with the assets and liabilities described in Note 4, Self Administration Transaction The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable-rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate notes payable at September 30, 2019 and December 31, 2018. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 316,560,000 $ 303,028,569 $ 200,600,000 $ 207,357,391 As of September 30, 2019, and December 31, 2018, we had interest rate swaps, interest rate caps, and a net investment hedge (See Notes 6 and 7). The valuations of these instruments were determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. The analysis reflected the contractual terms of the derivative, including the period to maturity, and used observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair value of the interest rate swaps were determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash payments. Our fair values of our net investment hedges are based on the change in the spot rate at the end of the period as compared with the strike price at inception. To comply with GAAP, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of derivative contracts for the effect of non-performance risk, we will consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we had determined that the majority of the inputs used to value our derivatives were within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilized Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, through September 30, 2019, we had assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we determined that our derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities We record all derivatives on our balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in accumulated other comprehensive income. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of other comprehensive (loss) income into earnings (loss) when the hedged net investment is either sold or substantially liquidated.
Income Taxes	Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2014. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we believe that we are organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate in the foreseeable future in such a manner that we will remain qualified as a REIT for federal income tax purposes. Even if we continue to qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property, and federal income and excise taxes on our undistributed income. We filed an election to treat our TRS as a taxable REIT subsidiary effective January 1, 2014. In general, the TRS performs additional services for our customers and provides the advisory and property management services to the Managed REITs and otherwise generally engages in any real estate or non-real estate related business. The TRS is subject to corporate federal and state income tax. The TRS follows accounting guidance which requires the use of the asset and liability method. Deferred income taxes represent the tax effect of future differences between the book and tax bases of assets and liabilities.
Segment Reporting	Segment Reporting Our business is comprised of two reportable segments: (i) self storage operations and (ii) the Managed REIT Platform business. Please see Note 8 – Segment Disclosures for additional detail.
Per Share Data	Per Share Data Basic earnings per share attributable to our common stockholders for all periods presented are computed by dividing net income (loss) attributable to our common stockholders by the weighted average number of shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by including the dilutive effect of unvested restricted stock, utilizing the treasury stock method. For all periods presented, the dilutive effect of unvested restricted stock was not included in the diluted weighted average shares as such shares were antidilutive.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 amends the guidance on accounting for leases. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU 2016-02, lessor accounting is largely unchanged. It also includes extensive amendments to the disclosure requirements. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. We adopted this standard on January 1, 2019 using the modified retrospective approach, without applying the provisions to comparative periods presented. Its adoption did not have a material impact on our consolidated financial statements as substantially all of our lease revenues are derived from month-to-month leases and, as lessee, we have no significant leases In addition, the new standard requires our expected loss related to collectability of rental payments, previously reflected in property operating expenses as bad debt expense, to be reflected as a reduction to self storage rental revenue. The impact of this was a reduction in both self storage rental revenue and property operating expenses of approximately $450,000 and $1,170,000 for the three and nine months ended September 30, 2019, respectively. During the three and nine months ended September 30, 2018, bad debt expense totaled approximately $290,000 and $875,000, respectively, and is included in property operating expenses. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. ASU 2017-12 is intended to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and to simplify the application of the hedge accounting guidance under previous GAAP. ASU 2017-12 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. For cash flow and net investment hedges existing at the date of adoption, a reporting entity must apply the amendments in ASU 2017-12 using the modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The Company adopted ASU 2017-12 effective beginning January 1, 2019, and its adoption did not have a material impact on our financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Estimated Useful Lives used to Depreciate Real Property Assets	Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-40 years Site Improvements 7-10 years
Summary of Fixed Rate Notes Payable	The table below summarizes our fixed rate notes payable at September 30, 2019 and December 31, 2018. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 316,560,000 $ 303,028,569 $ 200,600,000 $ 207,357,391

Real Estate Facilities (Tables)

Real Estate Facilities (Tables)	9 Months Ended
	Sep. 30, 2019
Summary of Activity in Real Estate Facilities	The following summarizes the activity in real estate facilities during the nine months ended September 30, 2019: Real estate facilities Balance at December 31, 2018 $ 820,296,026 Facilities acquired through merger with SSGT 334,139,296 Corporate office acquired through Self Administration Transaction 6,500,000 Other facility acquisitions 10,430,942 Real estate reclassified to held for sale (11,690,958 ) Impact of foreign exchange rate changes 4,183,185 Improvements and additions 4,338,265 Balance at September 30, 2019 $ 1,168,196,756 Accumulated depreciation Balance at December 31, 2018 $ (54,264,685 ) Depreciation expense (21,643,576 ) Impact of foreign exchange rate changes (241,041 ) Real estate reclassified to held for sale 202,416 Balance at September 30, 2019 $ (75,946,886 )
Summary of Reconciles Total Consideration Transferred	The estimated fair value of the consideration transferred totaled approximately $111.3 million and consisted of the following: Estimated Fair Value of Consideration Transferred Cash (1) $ 3,918,185 Class A-1 Units 63,643,000 Class A-2 Units (contingent earnout) 30,900,000 Total Consideration Transferred 98,461,185 Fair value of our preexisting 50% equity interests 12,800,000 Total $ 111,261,185
Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed: Identifiable Assets Acquired at Fair Value Cash and cash equivalents $ 36,443 Restricted cash 94,999 Land 975,000 Building 5,389,000 Site Improvements 136,000 Equipment, furniture and fixtures 651,000 Investments in Managed REITs 5,600,000 Other assets 1,084,629 Intangibles - customer relationships 1,600,000 Trademarks 19,800,000 Intangibles - management contracts 24,900,000 Total identifiable assets acquired $ 60,267,071 Identifiable Liabilities Assumed at Fair Value Debt $ 19,219,126 Accounts payable and accrued expenses 722,286 Deferred tax liabilities, net 7,415,654 Total liabilities assumed $ 27,357,066 Net identifiable assets acquired $ 32,910,005 Goodwill 78,372,980 Non-controlling interest related to consolidated Tenant Programs joint ventures (21,800 ) Net assets acquired $ 111,261,185
Summary of Purchase Price Allocation for Real Estate Related Assets Acquired	The following table summarizes the purchase price allocation for the real estate related assets acquired during the nine months ended September 30, 2019: Acquisition Acquisition Date Real Estate Assets Construction in Process (4) Intangibles Total (1) 2019 Revenue (2) 2019 Property Operating Income (2)(3) SSGT Mergers 1/24/2019 $ 334,139,296 $ 5,370,773 $ 13,571,765 $ 353,081,834 $ 15,942,076 $ 8,335,227 (5) Riggs Rd - Gilbert 7/11/2019 $ 10,430,942 $ — $ — $ 10,430,942 $ 16,653 $ (34,945 ) (6) (1) The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid including capitalized acquisition costs. (2) The operating results of the self storage properties acquired during the nine months ended September 30, 2019 have been included in our consolidated statement s of operations since their respective acquisition date. (3) Property operating income excludes corporate general and administrative expenses, asset management fees, interest expenses, depreciation, amortization and acquisition expenses. (4) Construction in process relates to the Torbarrie property in Toronto, Canada, which is a self storage property under construction with an expected completion date in the fourth quarter of 2019 or first quarter of 2020. Amounts shown above are as of the acquisition date. (5) SSGT was a REIT focused on opportunistic self storage properties, including development, and lease-up properties. As a result, many of its properties were not physically and/or economically stabilized as of the date of the SSGT Mergers. (6) The Riggs Road Property was recently developed, with 0% occupancy as of its acquisition date
Strategic Storage Growth Trust, Inc
Summary of Reconciles Total Consideration Transferred	The following table reconciles the total consideration transferred during the SSGT Mergers: Fair value of consideration transferred: Cash $ 346,231,561 (1) Issuance of limited partnership units in our Operating Partnership to SS Growth Advisor, LLC 4,217,399 Total consideration transferred $ 350,448,960 (1) approximately $19 million of SSGT debt that was repaid at closing, approximately $5 million of other SSGT liabilities paid at closing, and approximately $1 million in transaction costs.
Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the SSGT Mergers: Assets Acquired: Land $ 62,261,573 Buildings 255,743,767 Site improvements 16,133,956 Construction in process 5,370,773 Intangible assets 13,571,765 Cash and cash equivalents 692,965 Other assets 6,536,838 Total assets acquired $ 360,311,637 Liabilities assumed: Debt $ 5,038,435 Accounts payable and accrued liabilities 4,824,242 Total liabilities assumed $ 9,862,677 Total net assets acquired $ 350,448,960

Self Administration Transacti_2

Self Administration Transaction (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Summary of Reconciles Total Consideration Transferred	The estimated fair value of the consideration transferred totaled approximately $111.3 million and consisted of the following: Estimated Fair Value of Consideration Transferred Cash (1) $ 3,918,185 Class A-1 Units 63,643,000 Class A-2 Units (contingent earnout) 30,900,000 Total Consideration Transferred 98,461,185 Fair value of our preexisting 50% equity interests 12,800,000 Total $ 111,261,185
Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed: Identifiable Assets Acquired at Fair Value Cash and cash equivalents $ 36,443 Restricted cash 94,999 Land 975,000 Building 5,389,000 Site Improvements 136,000 Equipment, furniture and fixtures 651,000 Investments in Managed REITs 5,600,000 Other assets 1,084,629 Intangibles - customer relationships 1,600,000 Trademarks 19,800,000 Intangibles - management contracts 24,900,000 Total identifiable assets acquired $ 60,267,071 Identifiable Liabilities Assumed at Fair Value Debt $ 19,219,126 Accounts payable and accrued expenses 722,286 Deferred tax liabilities, net 7,415,654 Total liabilities assumed $ 27,357,066 Net identifiable assets acquired $ 32,910,005 Goodwill 78,372,980 Non-controlling interest related to consolidated Tenant Programs joint ventures (21,800 ) Net assets acquired $ 111,261,185

Pro Forma Financial Informati_2

Pro Forma Financial Information (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2019
Business Acquisition Pro Forma Information [Abstract]
Summary of Consolidated Results of Operations on Pro Forma Basis	For the Nine Months ended September 30, 2019 September 30, 2018 Pro forma revenue $ 83,809,401 $ 62,518,667 Pro forma operating expenses $ (76,382,169 ) $ (52,578,442 ) Pro forma net income (loss) attributable to common stockholders $ (22,254,892 ) $ (3,450,094 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Summarized Real Estate Secured Debt	The Company’s debt is summarized as follows: Encumbered Property September 30, 2019 December 2018 Interest Rate Maturity Date KeyBank CMBS Loan (5) $ 95,000,000 $ 95,000,000 3.89 % 8/1/2026 KeyBank Florida CMBS Loan (6) 52,000,000 52,000,000 4.65 % 5/1/2027 Midland North Carolina CMBS Loan (7) 47,203,386 47,249,999 5.31 % 8/1/2024 Canadian CitiBank Loan (8) 82,543,360 72,846,480 4.21 % 10/9/2020 CMBS SASB Loan (9) 235,000,000 — 5.02 % 2/9/2022 CMBS Loan (10) 104,000,000 — 5.00 % 2/1/2029 Secured Loan (11) (13) 95,362,000 — 4.52 % 1/24/2022 Senior Term Loan (12) (13) 86,300,000 — 6.27 % 1/24/2022 Stoney Creek Loan (14) 5,497,319 — 5.90 % 10/1/2021 Torbarrie Loan (15) 2,791,947 — 5.90 % 3/1/2023 Ladera Office Loan 4,199,915 — 4.29 % 11/1/2026 KeyBank Tenant Program Loan 14,554,306 — 5.52 % 5/9/2021 Raleigh/Myrtle Beach promissory note (1) — 11,878,396 5.73 % N/A Amended KeyBank Credit Facility (2) — 98,782,500 5.00 % N/A Oakland and Concord loan (3) — 19,483,127 3.95 % N/A $11M KeyBank Subordinate Loan (4) — 11,000,000 6.25 % N/A Premium on secured debt, net 625,267 1,228,996 Debt issuance costs, net (9,758,342 ) (3,385,395 ) Total debt $ 815,319,158 $ 406,084,103 (1) Fixed rate debt with principal and interest payments due monthly. This promissory note was encumbered by five properties, Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II. This loan was repaid in conjunction with the SSGT Merger financing. (2) As of December 31, 2018, this facility encumbered 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). This loan was repaid in conjunction with the SSGT Merger financing. (3) This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixed the interest rate at 3.95%. This loan was repaid in conjunction with the SSGT Merger financing. (4) This variable rate loan encumbered 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and was subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. This loan was repaid in conjunction with the SSGT Merger financing. (5) This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts. (6) This fixed rate loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray) with monthly interest only payments until June 2022, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts. (7) This fixed rate loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments became due monthly. (8) This variable rate loan encumbers 10 of our Canadian properties and the amount shown above is in USD based on the foreign exchange rate in effect as of September 30 , 2019. W e have purchased interest rate caps that cap CDOR at 3.0 % until October 15, 2021. The separate assets of these encumbered properties are not available to pay our other debts. (9) This variable rate loan encumbers 29 properties (Morrisville, Cary, Raleigh, Vallejo, Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Port St Lucie, Sacramento, Concord, Oakland, Wellington, Doral, Naples, Baltimore, Aurora, Jones Blvd - Las Vegas, Russell Rd - Las Vegas, Riverside, Stockton, Azusa, Romeoville, Elgin, San Antonio, Kingwood). In June 2019, we purchased an interest rate swap whereby LIBOR is fixed at 1.79% though February 15, 2022 . (10) This fixed rate loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts. (11) This variable rate loan encumbers 17 properties (Colorado Springs, Aurora, San Antonio, Phoenix, 3173 Sweeten Creek Rd - Asheville, Elk Grove, Garden Grove, Deaverview Rd - Asheville, Highland Center Blvd - Asheville, Sarasota, Mount Pleasant, Pembroke Pines, Riverview, Eastlake, McKinney, Hualapai Way - Las Vegas, Gilbert). The separate assets of these encumbered properties are not available to pay our other debts. (12) This variable rate loan is encumbered by a pledge of 49% of the equity interests in our property-owning special purpose entities, other than those encumbered by the CMBS SASB Loan (13) We have a $161.2 million notional interest rate swap whereby LIBOR is fixed at approximately 2.6% until August 1, 2020. Subsequent to September 30, 2019, in connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of this interest rate swap which required a settlement payment of approximately $0.6 million. (14 ) This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Stoney Creek loan was assumed in the SSGT Mergers and had a balance of approximately $5 million USD as of the SSGT Mergers date. The Stoney Creek loan is secured by a first lien deed of trust on the Stoney Creek property and all improvements thereto, is cross-collateralized with the Torbarrie property, and is guaranteed by the Company. The amount shown above is in USD based on the foreign exchange rate in effect as of September 30, 2019. (15 ) This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Torbarrie loan was assumed in the SSGT Mergers and had no outstanding balance as of the date of the SSGT Mergers. The Torbarrie loan is a construction loan, which allows for borrowings up to approximately $10.3 million CAD and is
Summary of Merger Financings	On January 24, 2019, in conjunction with the SSGT Mergers, we, through certain wholly-owned special purpose entities, entered into various financings (“SSGT Merger Financings”), as follows: Merger Financings Principal Borrowing as of Merger Date CMBS SASB Loan $ 235,000,000 CMBS Loan 104,000,000 Secured Loan 89,178,000 Senior Term Loan 72,000,000 Total $ 500,178,000
Schedule of Payment Related to Merger Consideration and Repayment of Debt	The proceeds from the SSGT Merger Financings were primarily used to facilitate the SSGT Mergers as previously described, including the payment of the SSGT merger consideration and the repayment, in full, of certain of our debt, as follows: Merger Financings Principal Repaid Raleigh/Myrtle Beach promissory note $ 11,862,471 Amended KeyBank Credit Facility 98,782,500 Oakland and Concord loan 19,443,753 $11M KeyBank Subordinate Loan 11,000,000 Total $ 141,088,724
Future Principal Payment Requirements on Outstanding Debt	The following table presents the future principal payment requirements on outstanding debt as of September 30, 2019: 2019 (1) $ 729,326 2020 (1) 86,251,637 2021 (1) 17,791,959 2022 419,576,829 2023 6,176,525 2024 and thereafter 293,925,957 Total payments (2) 824,452,233 Premium on secured debt, net 625,267 Debt issuance costs, net (9,758,342 ) Total $ 815,319,158 (1) The amounts reflected above include the requisite principal payments on the KeyBank Tenant Program Loan, such that the amount outstanding on the KeyBank Tenant Program Loan as of the end of each respective period is equal to the associated maximum balance described in Note 4. (2) On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments	The following table summarizes the terms of our derivative financial instruments as of September 30, 2019: Notional Amount Strike Effective or Date Assumed Maturity Interest Rate Swaps: LIBOR Swap $ 161,178,000 (3) 2.61 % January 24, 2019 August 1, 2020 LIBOR Swap 235,000,000 1.79 % June 15, 2019 February 15, 2022 Interest Rate Cap: CDOR Cap $ 99,300,000 (1) 3.00 % October 11, 2018 October 15, 2021 CDOR Cap 1,000,000 (1) 3.00 % March 28, 2019 October 15, 2021 CDOR Cap 11,700,000 (1) 3.00 % May 28, 2019 October 15, 2021 Foreign Currency Option: Denominated in CAD $ 95,000,000 (1)(2) 1.372 July 8, 2019 December 9, 2019 (1) (2) (3) The following table summarizes the terms of our derivative financial instruments as of December 31, 2018: Notional Amount Strike Effective Date Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,483,127 (2) 3.95 % May 18, 2016 April 10, 2023 Interest Rate Cap: CDOR Cap $ 99,300,000 (1) 3.00 % October 11, 2018 October 15, 2021 Foreign Currency Forward: Denominated in CAD $ 90,000,000 (1) 1.2846 March 28, 2018 January 28, 2019 (3) (1) Notional amount shown is denominated in CAD. ( 2) The Oakland and Concord loan interest rate swap was settled on January 24, 2019 in conjunction with the SSGT Mergers. ( 3) We settled this foreign currency forward on January 25, 2019 and received a settlement of approximately $2.1 million.
Schedule of Fair Value of Derivative Financial Instruments and Classification In Consolidated Balance Sheets	The following table presents a gross presentation of the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets as of September 30, 2019 and December 31, 2018: Asset/Liability Derivatives Fair Value Balance Sheet Location September 30, 2019 December 31, 2018 Interest Rate Swaps Other assets $ — $ 361,802 Accounts payable and accrued liabilities 3,147,573 — Interest Rate Caps Other assets $ 59,358 $ 87,808 Accounts payable and accrued liabilities 25,611 — Foreign Currency Hedges Other assets $ 65,652 $ 4,016,806

Segment Disclosures (Tables)

Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Summary of Reportable Segments	The following table summarizes information for the reportable segments for the three and nine months ended September 30, 2019 below: Three Months Ended September 30, 2019 Managed REIT Corporate Self Storage Platform and Other Total Revenues: Self storage rental revenue $ 25,669,615 $ — $ — $ 25,669,615 Ancillary operating revenue 1,188,934 — — 1,188,934 Managed REIT Platform revenue — 1,192,665 — 1,192,665 Reimbursable costs from Managed REITs — 1,536,800 — 1,536,800 Total revenues 26,858,549 2,729,465 — 29,588,014 Operating expenses: Property operating expenses 9,655,599 — — 9,655,599 Managed REIT Platform expense — 1,248,665 — 1,248,665 Reimbursable costs from Managed REITs — 1,536,800 — 1,536,800 General and administrative — — 3,519,557 3,519,557 Depreciation 7,470,184 — 169,006 7,639,190 Intangible amortization expense 2,503,987 1,237,059 — 3,741,046 Contingent earnout expense — — 300,000 300,000 Self administration transaction expenses — — 107,100 107,100 Other property acquisition expenses 25,529 — — 25,529 Total operating expenses 19,655,299 4,022,524 4,095,663 27,773,486 Operating income 7,203,250 (1,293,059 ) (4,095,663 ) 1,814,528 Other income (expense): Interest expense (10,214,822 ) — (46,114 ) (10,260,936 ) Interest expense – accretion of fair market value of secured debt 33,191 — — 33,191 Interest expense – debt issuance costs (1,082,543 ) — — (1,082,543 ) Other (106,450 ) 60,631 — (45,819 ) Net loss $ (4,167,374 ) $ (1,232,428 ) $ (4,141,777 ) $ (9,541,579 ) Nine Months Ended September 30, 2019 Managed REIT Corporate Self Storage Platform and Other Total Revenues: Self storage rental revenue $ 74,056,235 $ — $ — $ 74,056,235 Ancillary operating revenue 2,589,985 — — 2,589,985 Managed REIT Platform revenue — 1,221,727 — 1,221,727 Reimbursable costs from Managed REITs — 1,583,909 — 1,583,909 Total revenues 76,646,220 2,805,636 — 79,451,856 Operating expenses: Property operating expenses 26,630,201 — — 26,630,201 Property operating expenses – affiliates 6,605,670 — — 6,605,670 Managed REIT Platform expense — 1,259,234 — 1,259,234 Reimbursable costs from Managed REITs — 1,583,909 — 1,583,909 General and administrative — — 7,000,627 7,000,627 Depreciation 21,750,206 — 177,902 21,928,108 Intangible amortization expense 6,524,347 1,298,007 — 7,822,354 Contingent earnout expense — — 300,000 300,000 Self administration transaction expenses — — 1,595,371 1,595,371 Acquisition expenses – affiliates 84,061 — — 84,061 Other property acquisition expenses 109,765 — — 109,765 Total operating expenses 61,704,250 4,141,150 9,073,900 74,919,300 Operating income 14,941,970 (1,335,514 ) (9,073,900 ) 4,532,556 Other income (expense): Interest expense (28,537,117 ) — (47,623 ) (28,584,740 ) Interest expense – accretion of fair market value of secured debt 98,850 — — 98,850 Interest expense – debt issuance costs (2,997,801 ) — — (2,997,801 ) Net loss on extinguishment of debt (1,487,867 ) — — (1,487,867 ) Gain resulting from acquisition of unconsolidated affiliates 8,017,353 — — 8,017,353 Other (414,871 ) 62,652 — (352,219 ) Net loss $ (10,379,483 ) $ (1,272,862 ) $ (9,121,523 ) $ (20,773,868 )
Summary of Total Assets by Segment	The following table summarizes our total assets by segment: Segments September 30, 2019 Self Storage $ 1,139,087,776 Managed REIT Platform 29,739,174 Corporate and Other (1) 110,835,320 Total assets $ 1,279,662,270 (1) We are still in the process of gathering certain additional information in order to finalize our assessment of the fair value of the consideration as well as the assets and liabilities acquired in the Self Administration Transaction, thus the provisional measurements are subject to change. Additionally, we have not completed our allocation of intangible assets to the reportable segments; therefore such amounts were included in Corporate and Other as of September 30, 2019 in the above.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Summary of Related Party Costs	Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2018 and the nine months ended September 30, 2019, as well as any related amounts payable as of December 31, 2018 and September 30, 2019: Year Ended December 31, 2018 Nine Months Ended September 30, 2019 Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 2,199,596 $ 2,336,075 $ 209,385 $ 975,985 $ 1,185,370 $ — Transfer Agent fees 352,300 302,839 49,461 324,943 374,404 — Asset management fees 5,445,528 5,445,528 — 3,622,558 3,622,558 — Property management fees 4,809,106 4,809,106 — 2,983,111 2,983,111 — Acquisition expenses 72,179 72,179 — 80,102 80,102 — Capitalized Acquisition costs 48,664 48,664 — 235,932 235,932 — Self Administration Transaction working capital true-up — — — 493,785 493,785 — Additional paid-in capital Stockholder servicing fee (1) — 675,049 1,944,991 — 502,961 1,442,030 Total $ 12,927,373 $ 13,689,440 $ 2,203,837 $ 8,716,416 $ 9,478,223 $ 1,442,030 (1) th
Summary of Related Party Fees and Reimbursable Costs	Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees recorded for the three and nine months ended September 30, 2019: Managed REIT Platform Revenues Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Property management agreement – SST IV $ 288,026 $ 296,300 Property management agreement – SSGT II 40,222 40,822 Advisory agreement – SST IV 490,844 506,470 Advisory agreement – SSGT II 117,380 121,942 Tenant Program revenue – SST IV 120,498 120,498 Tenant Program revenue – SSGT II 15,895 15,895 Other Managed REIT revenue 119,800 119,800 Total $ 1,192,665 $ 1,221,727

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Stock for Redemptions Based on Number of Years Stock Held	The amount that we may pay to redeem stock for redemptions is the redemption price set forth in the following table which is based upon the number of years the stock is held:

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Non-vested Restricted Stock Grants	Restricted Stock Grants Shares Weighted-Average Grant-Date Fair Value Non-Vested at December 31, 2018 21,438 $ 10.38 Granted 249,062 9.48 Vested (7,625 ) 10.29 Non-Vested at September 30, 2019 262,875 $ 9.53

Selected Quarterly Data (Tables

Selected Quarterly Data (Tables)	9 Months Ended
	Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information	The following is a summary of quarterly financial information for the periods shown below: Three months ended September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 Total revenues $ 20,313,069 $ 20,187,215 $ 23,883,325 $ 25,980,517 $ 29,588,014 Total operating expenses $ 15,836,436 $ 15,808,549 $ 21,934,203 $ 25,211,611 $ 27,773,486 Operating income $ 4,476,633 $ 4,378,666 $ 1,949,122 $ 768,906 $ 1,814,528 Net loss $ (457,278 ) $ (1,159,075 ) $ (8,948,317 ) $ (2,283,972 ) $ (9,541,579 ) Net loss attributable to common stockholders $ (451,424 ) $ (1,158,694 ) $ (8,891,558 ) $ (2,212,445 ) $ (8,214,826 ) Net loss per Class A Share-basic and diluted $ (0.01 ) $ (0.02 ) $ (0.15 ) $ (0.04 ) $ (0.14 ) Net loss per Class T Share-basic and diluted $ (0.01 ) $ (0.02 ) $ (0.15 ) $ (0.04 ) $ (0.14 )

Organization - Additional Infor

Organization - Additional Information (Detail)	Jun. 26, 2019$ / shares	Jan. 09, 2017USD ($)shares	May 23, 2014USD ($)	Aug. 02, 2013USD ($)	Sep. 30, 2019USD ($)StorageFacilityState$ / sharesshares	Jul. 01, 2019$ / shares	Dec. 31, 2018$ / sharesshares	Nov. 30, 2016shares
Organization And Nature Of Operations [Line Items]
Date of formation of company					Jan. 8, 2013
Preferred Stock, shares authorize | shares					200,000,000		200,000,000
Preferred Stock, par value | $ / shares					$ 0.001		$ 0.001
Shares issuable pursuant to distribution reinvestment plan					$ 95,000,000
Number of operating self storage facilities | StorageFacility					112
Number of states located for operating self storage facilities | State					17
Advisor, SS Toronto REIT Advisors, Inc., and SS Growth Advisor, LLC.
Organization And Nature Of Operations [Line Items]
Percentage of limited partnership interests					86.60%
SAM and Affiliates
Organization And Nature Of Operations [Line Items]
Percentage of limited partnership interests owned by noncontrolling owners					13.40%
Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorize | shares								100,900,000
Description for termination of offering					The DRP Offering may be terminated at any time upon 10 days’ prior written notice to stockholders.
Class A Common stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorize | shares					350,000,000		350,000,000
Common Stock, par value | $ / shares					$ 0.001		$ 0.001
Estimated value per common share | $ / shares	$ 10.66
Class A Common stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Selling price per share | $ / shares						$ 10.66
Class A Common stock | Common Stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Gross proceeds from issuance of common stock					$ 38,300,000
Number of common stock issued | shares					3,700,000
Class A Common stock | Primary Offering | Common Stock
Organization And Nature Of Operations [Line Items]
Number of shares issued in offering | shares		48,000,000
Gross proceeds from issuance of common stock		$ 493,000,000
Class T Common stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorize | shares					350,000,000		350,000,000
Common Stock, par value | $ / shares					$ 0.001		$ 0.001
Estimated value per common share | $ / shares	$ 10.66
Class T Common stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Selling price per share | $ / shares						$ 10.66
Class T Common stock | Common Stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Gross proceeds from issuance of common stock					$ 5,800,000
Number of common stock issued | shares					600,000
Class T Common stock | Primary Offering | Common Stock
Organization And Nature Of Operations [Line Items]
Number of shares issued in offering | shares		7,000,000
Gross proceeds from issuance of common stock		$ 73,000,000
SmartStop Self Storage, Inc.
Organization And Nature Of Operations [Line Items]
Number of self storage professionals and other personnel | StorageFacility					350
Strategic Storage Operating Partnership II, L.P.
Organization And Nature Of Operations [Line Items]
Date of formation of company					Jan. 9, 2013
Advisor purchased a limited partnership interest in Operating Partnership				$ 200,000
Initial capital contribution				$ 1,000
SmartStop Asset Management
Organization And Nature Of Operations [Line Items]
Percentage of non-voting equity owned					15.00%
SmartStop Asset Management | Class A Common stock
Organization And Nature Of Operations [Line Items]
Percentage of membership interest					100.00%
SmartStop Asset Management | Investments in Majority-owned Subsidiaries
Organization And Nature Of Operations [Line Items]
Percentage of non-voting equity owned					15.00%
Self Administration Transaction | Strategic Storage Property Management II, LLC
Organization And Nature Of Operations [Line Items]
Percentage of voting membership interest					100.00%
Self Administration Transaction | SS Growth Property Management, LLC
Organization And Nature Of Operations [Line Items]
Percentage of voting membership interest					100.00%
Self Administration Transaction | Strategic Storage Advisor II, LLC
Organization And Nature Of Operations [Line Items]
Percentage of voting membership interest					100.00%
Minimum | Primary Offering
Organization And Nature Of Operations [Line Items]
Sale of common shares			$ 1,500,000
Maximum | Primary Offering
Organization And Nature Of Operations [Line Items]
Common stock, value authorize					$ 1,000,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Trademarkshares	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)shares	Jul. 31, 2019USD ($)	Jun. 27, 2019USD ($)	Apr. 30, 2019USD ($)	Jan. 31, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Payments to acquire intangible assets			$ 13,600,000	$ 0
Business acquisition, transaction costs	$ 26,000	$ 570,000	194,000	850,000
Impairment losses recognized	0	0	0	0
Goodwill	78,372,980		78,372,980
Trademarks acquired amount							$ 0
Trademarks acquired	19,743,167		19,743,167
Accumulated amortization	38,100,000		38,100,000		$ 31,900,000
Total estimated future amortization expense of intangible assets, year 2019	2,200,000		2,200,000
Total estimated future amortization expense of intangible assets, year 2020	5,000,000		5,000,000
Total estimated future amortization expense of intangible assets, year 2021	100,000		100,000
Total estimated future amortization expense of intangible assets, year 2022	100,000		100,000
Total estimated future amortization expense of intangible assets, year 2023	100,000		100,000
Total estimated future amortization expense of intangible assets, thereafter	1,100,000		1,100,000
Gross amounts of lease intangibles	46,700,000		$ 46,700,000		33,400,000
Underwriting commission			10.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering			3.00%
Redemptions of common stock	4,400,000		$ 4,400,000		$ 8,300,000	$ 400,000			$ 1,300,000
Redemptions of common stock (in shares) | shares			450,000		900,000
Minimum percentage of ordinary taxable income to be distributed to stockholders			90.00%
Reduction in self storage rental revenue and property operating expenses	450,000		$ 1,170,000
Bad debt expense		290,000		875,000
Real Estate Investment
Summary Of Significant Accounting Policies [Line Items]
Gains (losses) on exchange rate changes in equity investments recorded in other income (expense)	200,000	$ 0	$ 700,000	$ 0
Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Underwriting commission			10.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering			3.00%
Class T Common stock
Summary Of Significant Accounting Policies [Line Items]
Monthly stockholder servicing fee accrual description			accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Class T Common stock | Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Monthly stockholder servicing fee accrual description			accrues daily in an amount equal to 1/365th of 1% of the purchase price per share		accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Class T Common stock | Primary Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares			10.00%
Class A Common stock | Primary Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares			10.00%
Redeemable Common Stock
Summary Of Significant Accounting Policies [Line Items]
Redemptions of common stock					$ 7,000,000			$ 4,000,000
Revolving Credit Facility
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of debt issuance costs	0		$ 0		45,000,000,000
Non Revolving Debt
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of debt issuance costs	3,700,000		$ 3,700,000		$ 1,000,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life			3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life			5 years
Self Administration Transaction
Summary Of Significant Accounting Policies [Line Items]
Trademarks acquired	19,800,000		$ 19,800,000
Number of trademarks acquired | Trademark			2
Accumulated amortization	1,500,000		$ 1,500,000
Gross amounts of lease intangibles	26,500,000		$ 26,500,000
SmartStop Trademark
Summary Of Significant Accounting Policies [Line Items]
Amortization period of intangible assets			8 years
Trademarks with indefinite lives			$ 18,700,000
Strategic Storage Trademark
Summary Of Significant Accounting Policies [Line Items]
Amortization period of intangible assets			7 years
Total estimated future amortization expense of intangible assets, year 2019	55,000		$ 55,000
Total estimated future amortization expense of intangible assets, year 2020	220,000		220,000
Total estimated future amortization expense of intangible assets, year 2021	220,000		220,000
Total estimated future amortization expense of intangible assets, year 2022	220,000		220,000
Total estimated future amortization expense of intangible assets, year 2023	220,000		220,000
Total estimated future amortization expense of intangible assets, thereafter	108,000		$ 108,000
Trademarks
Summary Of Significant Accounting Policies [Line Items]
Amortization period of intangible assets			15 years
Strategic Storage
Summary Of Significant Accounting Policies [Line Items]
Amortization period of intangible assets			5 years
Trademarks acquired	1,100,000		$ 1,100,000
Accumulated amortization	57,000		57,000
Self Administration Transaction
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest in joint venture									100.00%
Total estimated future amortization expense of intangible assets, year 2019	1,400,000		1,400,000
Total estimated future amortization expense of intangible assets, year 2020	5,700,000		5,700,000
Total estimated future amortization expense of intangible assets, year 2021	4,600,000		4,600,000
Total estimated future amortization expense of intangible assets, year 2022	4,600,000		4,600,000
Total estimated future amortization expense of intangible assets, year 2023	4,600,000		4,600,000
Total estimated future amortization expense of intangible assets, thereafter	$ 4,100,000		$ 4,100,000
Self Administration Transaction | Tenant Programs
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest acquired in joint venture									50.00%

Estimated Useful Lives used to

Estimated Useful Lives used to Depreciate Real Property Assets (Detail)	9 Months Ended
	Sep. 30, 2019
Land
Property Plant And Equipment [Line Items]
Standard Depreciable Life	Not Depreciated
Buildings | Minimum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	30 years
Buildings | Maximum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	40 years
Site Improvements | Minimum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	7 years
Site Improvements | Maximum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	10 years

Summary of Fixed Rate Notes Pay

Summary of Fixed Rate Notes Payable (Detail) - Fixed Rate Secured Debt - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 316,560,000	$ 200,600,000
Carrying Value	$ 303,028,569	$ 207,357,391

Schedule of Activity in Real Es

Schedule of Activity in Real Estate Facilities (Detail)	9 Months Ended
	Sep. 30, 2019USD ($)
Real estate facilities
Real estate facilities, beginning balance	$ 820,296,026
Facilities acquired through merger with SSGT	334,139,296
Corporate office acquired through Self Administration Transaction	6,500,000
Other facility acquisitions	10,430,942
Real estate reclassified to held for sale	(11,690,958)
Impact of foreign exchange rate changes	4,183,185
Improvements and additions	4,338,265
Real estate facilities, ending balance	1,168,196,756
Accumulated depreciation
Accumulated depreciation, beginning balance	(54,264,685)
Depreciation expense	(21,643,576)
Impact of foreign exchange rate changes	(241,041)
Real estate reclassified to held for sale	202,416
Accumulated depreciation, ending balance	$ (75,946,886)

Real Estate Facilities - Additi

Real Estate Facilities - Additional Information (Detail)		Oct. 18, 2019USD ($)	Oct. 17, 2019USD ($)	Jul. 11, 2019USD ($)	Oct. 01, 2018USD ($)StorageFacilityState$ / sharesshares	Jun. 28, 2018CAD ($)	Jan. 31, 2019CAD ($)	Sep. 30, 2019USD ($)	Jan. 24, 2019USD ($)$ / shares
Restructuring Cost And Reserve [Line Items]
Repayment of debt									$ 141,088,724
Principal borrowing									500,178,000
Number of operating self storage facilities | StorageFacility					28
Number of states for self storage facilities | State					10
Debt Instrument Carrying Amount	[1]							$ 824,452,233
SmartCentres
Restructuring Cost And Reserve [Line Items]
Percentage of units to be subscribed at closing in limited partnership						50.00%
Subscription price of units in limited partnership						$ 3,800,000
Subscription price as percentage of agreed upon fair market value of land to be contributed to the Limited Partnership						50.00%
East York Lot
Restructuring Cost And Reserve [Line Items]
Percentage of membership interest						50.00%
Fair market value						$ 7,600,000
Senior Term Loan
Restructuring Cost And Reserve [Line Items]
Principal borrowing									72,000,000
Fixed Rate Secured Debt
Restructuring Cost And Reserve [Line Items]
Principal borrowing									$ 89,178,000
Canada
Restructuring Cost And Reserve [Line Items]
Number of operating self storage facilities | StorageFacility					1
SS Growth Advisor LLC | Capital Unit, Class A
Restructuring Cost And Reserve [Line Items]
Business acquisition partnership units issued | shares					396,000
Strategic Storage Growth Trust, Inc
Restructuring Cost And Reserve [Line Items]
Common Stock, par value | $ / shares					$ 0.001
Sale price per share | $ / shares					$ 12				$ 12
Repayment of debt									$ 141,000,000
Principal borrowing									$ 500,000,000
Purchase price					$ 350,448,960
Debt Instrument Carrying Amount					$ 19,000,000
SS Growth Operating Partnership, L.P
Restructuring Cost And Reserve [Line Items]
Limited partners' capital account, units converted in to percentage					112.70%
Riggs Road Property
Restructuring Cost And Reserve [Line Items]
Purchase price				$ 10,000,000
Riggs Road Property | Senior Term Loan
Restructuring Cost And Reserve [Line Items]
Debt Instrument Carrying Amount				4,300,000
Riggs Road Property | Fixed Rate Secured Debt
Restructuring Cost And Reserve [Line Items]
Debt Instrument Carrying Amount				5,700,000
Riggs Road Property | Smart Stop Asset Management LLC
Restructuring Cost And Reserve [Line Items]
Business acquisition fees paid to advisor				$ 175,000
San Antonio II Property | Subsequent Event
Restructuring Cost And Reserve [Line Items]
Sales price		$ 16,100,000	$ 16,100,000
Strategic Storage Trust IV, Inc.
Restructuring Cost And Reserve [Line Items]
Proceeds from sale of interest in partnership unit							$ 4,700,000
Proceeds from land and development cost incurred							4,600,000
Acquisition cost that were expensed							$ 100,000
[1]	On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Summary of Reconciles Total Con

Summary of Reconciles Total Consideration Transferred (Detail) - Strategic Storage Growth Trust, Inc	Oct. 01, 2018USD ($)
Fair value of consideration transferred:
Cash	$ 346,231,561
Issuance of limited partnership units in our Operating Partnership to SS Growth Advisor, LLC	4,217,399
Total consideration transferred	$ 350,448,960

Summary of Reconciles Total C_2

Summary of Reconciles Total Consideration Transferred (Parenthetical) (Detail) - USD ($)		Oct. 01, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Debt Instrument Carrying Amount	[1]		$ 824,452,233		$ 824,452,233
Business acquisition, transaction costs			$ 26,000	$ 570,000	$ 194,000	$ 850,000
Strategic Storage Growth Trust, Inc
Business Acquisition [Line Items]
Cash consideration		$ 346,231,561
Cash paid to shareholders		320,000,000
Debt Instrument Carrying Amount		19,000,000
Other liabilities paid		5,000,000
Business acquisition, transaction costs		$ 1,000,000
[1]	On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Summary of Relative Fair Values

Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)	Sep. 30, 2019	Oct. 01, 2018
Assets Acquired:
Land	$ 975,000
Buildings	5,389,000
Intangible assets	1,600,000
Cash and cash equivalents	36,443
Other assets	1,084,629
Total assets acquired	60,267,071
Liabilities assumed:
Accounts payable and accrued liabilities	722,286
Total liabilities assumed	27,357,066
Total net assets acquired	$ 32,910,005
Strategic Storage Growth Trust, Inc
Assets Acquired:
Land		$ 62,261,573
Buildings		255,743,767
Site improvements		16,133,956
Construction in process		5,370,773
Intangible assets		13,571,765
Cash and cash equivalents		692,965
Other assets		6,536,838
Total assets acquired		360,311,637
Liabilities assumed:
Debt		5,038,435
Accounts payable and accrued liabilities		4,824,242
Total liabilities assumed		9,862,677
Total net assets acquired		$ 350,448,960

Summary of Purchase Price Alloc

Summary of Purchase Price Allocation for Real Estate Related Assets Acquired (Detail)	9 Months Ended
	Sep. 30, 2019USD ($)
Business Acquisition [Line Items]
Real Estate Assets	$ 5,389,000
Total assets acquired	$ 60,267,071
SSGT Mergers
Business Acquisition [Line Items]
Acquisition Date	Jan. 24, 2019
Real Estate Assets	$ 334,139,296
Construction in Process	5,370,773	[1]
Intangibles	13,571,765
Total assets acquired	353,081,834	[2]
2019 Revenue	15,942,076	[3]
2019 Property Operating Income	$ 8,335,227	[3],[4],[5]
Riggs Rd - Gilbert
Business Acquisition [Line Items]
Acquisition Date	Jul. 11, 2019
Real Estate Assets	$ 10,430,942
Construction in Process	0	[1]
Intangibles	0
Total assets acquired	10,430,942	[2]
2019 Revenue	16,653	[3]
2019 Property Operating Income	$ (34,945)	[3],[4],[6]
[1]	Construction in process relates to the Torbarrie property in Toronto, Canada, which is a self storage property under construction with an expected completion date in the fourth quarter of 2019 or first quarter of 2020. Amounts shown above are as of the acquisition date.
[2]	The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid including capitalized acquisition costs.
[3]	The operating results of the self storage properties acquired during the nine months ended September 30, 2019 have been included in our consolidated statement s of operations since their respective acquisition date.
[4]	Property operating income excludes corporate general and administrative expenses, asset management fees, interest expenses, depreciation, amortization and acquisition expenses.
[5]	SSGT was a REIT focused on opportunistic self storage properties, including development, and lease-up properties. As a result, many of its properties were not physically and/or economically stabilized as of the date of the SSGT Mergers.
[6]	The Riggs Road Property was recently developed, with 0% occupancy as of its acquisition date

Summary of Purchase Price All_2

Summary of Purchase Price Allocation for Real Estate Related Assets Acquired (Parenthetical) (Detail)	Jul. 11, 2019
Riggs Rd - Gilbert
Business Acquisition [Line Items]
Occupancy percentage	0.00%

Self Administration Transacti_3

Self Administration Transaction - Additional Information (Detail)

Jun. 28, 2019USD ($)Employee$ / sharesshares

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Sep. 30, 2018USD ($)

Sep. 30, 2019USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2020USD ($)

Jun. 30, 2020USD ($)

Dec. 31, 2019USD ($)

Jan. 24, 2019USD ($)

Business Acquisition [Line Items]

Increase in liability estimated fair value contingent earnout

$ 300,000

Estimated fair value of the contingent earnout

31,200,000

$ 31,200,000

Legal fees and fees and expenses of professional and financial advisors

1,600,000

Estimated fair value of consideration transferred

$ 111,300,000

Gain resulting from acquisition of unconsolidated affiliates

0

$ 0

8,017,353

$ 0

Net operating income

1,814,528

$ 768,906

$ 1,949,122

$ 4,378,666

4,476,633

4,532,556

11,772,777

General and administrative

3,519,557

999,439

7,000,627

3,632,649

Intangible amortization expense

3,741,046

$ 179,613

7,822,354

$ 2,398,378

Principal borrowing

$ 500,178,000

Debt Instrument Carrying Amount

[1]

824,452,233

824,452,233

Noncontrolling interests in our Operating Partnership

$ 74,004,486

$ (77,756)

$ 74,004,486

$ (77,756)

Agreement term

3 years

Form S-3

Business Acquisition [Line Items]

Registration rights agreement filing period

30 days

Form S-11

Business Acquisition [Line Items]

Registration rights agreement filing period

60 days

Strategic Storage Advisor II, LLC

Business Acquisition [Line Items]

Partnership units exchanged | shares

20,000

Cash proceeds from partnership units exchanged

$ 200,000

Gain (loss) from partners capital account units exchanged

0

Fair value of operating partnership units and special limited partnership interests contributed

18,800,000

Noncontrolling interests in our Operating Partnership

9,100,000

Ladera Office Loan

Business Acquisition [Line Items]

Principal borrowing

$ 4,200,000

Debt instrument, interest rate

4.29%

Debt instrument maturity date

Nov. 1, 2026

KeyBank Tenant Program Loan

Business Acquisition [Line Items]

Principal borrowing

$ 15,000,000

Debt instrument, interest rate

5.90%

5.90%

Debt instrument, description of variable rate basis

1-month Libor plus 350 basis points

Debt instrument, basis spread on variable rate

3.50%

Fair Value, Inputs, Level 3

Business Acquisition [Line Items]

Alternative investment, measurement input

5.16%

Net operating income

$ 74,000,000

Minority and Marketability Discount | Fair Value, Inputs, Level 3

Business Acquisition [Line Items]

Alternative investment, measurement input

0.05

Maximum | KeyBank Tenant Program Loan | Scenario, Forecast

Business Acquisition [Line Items]

Debt Instrument Carrying Amount

$ 11,000,000

$ 12,500,000

$ 14,000,000

Contribution Agreement

Business Acquisition [Line Items]

Percentage of fair value of equity interests

50.00%

Gain resulting from acquisition of unconsolidated affiliates

$ 8,000,000

Contribution Agreement | SmartStop Asset Management

Business Acquisition [Line Items]

Percentage of voting membership interest

100.00%

Number of on-site self storage employees | Employee

350

Cash

$ 769,126

Debt assumption

$ 15,000,000

Contribution Agreement | Class A-1 Units | SmartStop Asset Management

Business Acquisition [Line Items]

Number of limited partnership units | shares

8,698,956

Contribution Agreement | Class A-2 Units | SmartStop Asset Management

Business Acquisition [Line Items]

Number of limited partnership units | shares

3,283,302

Operating Partnership Agreement

Business Acquisition [Line Items]

Number of limited partnership units | shares

20,000

Cash received

$ 200,000

Operating Partnership Agreement | Class A-1 Units

Business Acquisition [Line Items]

Lock-up expiration date

Jun. 28, 2021

Conversion of stock, description

The Class A-1 Units are subject to the general restrictions on transfer contained in the Operating Partnership Agreement. In addition, until June 28, 2021 (the “Lock-Up Expiration”), the Class A-1 Units may not be sold, pledged, or otherwise transferred or encumbered except in certain limited circumstances set forth in the Contribution Agreement.  The Class A-1 Units are otherwise entitled to all rights and duties of the Class A limited partnership units in the Operating Partnership, including cash distributions and the allocation of any profits or losses in the Operating Partnership.  The Class A-2 Units may convert into Class A-1 Units as earnout consideration, as described below.  The Class A-2 Units are not entitled to cash distributions or the allocation of any profits or losses in the Operating Partnership until the Class A-2 Units are converted into Class A-1 Units

Operating Partnership Agreement | Class A-2 Units

Business Acquisition [Line Items]

Earnout unit exchange per share | $ / shares

$ 10.66

Class of unit expiration year

7 years

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature A

Business Acquisition [Line Items]

Class of unit conversion percentage

33.33%

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature A | Minimum

Business Acquisition [Line Items]

Incremental AUM under operating partnership

$ 300,000,000

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature B

Business Acquisition [Line Items]

Class of unit conversion percentage

33.33%

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature B | Minimum

Business Acquisition [Line Items]

Incremental AUM under operating partnership

$ 500,000,000

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature C

Business Acquisition [Line Items]

Class of unit conversion percentage

33.33%

Operating Partnership Agreement | Class A-2 Units | Unit Conversion Feature C | Minimum

Business Acquisition [Line Items]

Incremental AUM under operating partnership

$ 700,000,000

Membership Interest Purchase Agreement | Terrace Rd LLC

Business Acquisition [Line Items]

Percentage of voting membership interest

100.00%

Cash

$ 2,300,000

Debt assumption

4,200,000

Consideration transferred

$ 6,500,000

[1]

On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Self Administration Transacti_4

Self Administration Transaction - Summary of Estimated Fair Value Consideration Transferred (Detail) - USD ($)	Jun. 28, 2019	Jun. 28, 2018
Fair value of consideration transferred:
Total	$ 111,300,000
Contribution Agreement and Membership Interest Purchase Agreement
Fair value of consideration transferred:
Cash		$ 3,918,185
Total consideration transferred		98,461,185
Fair value of our preexisting 50% equity interests		12,800,000
Total		111,261,185
Contribution Agreement and Membership Interest Purchase Agreement | Class A-1 Units
Fair value of consideration transferred:
Units		63,643,000
Contribution Agreement and Membership Interest Purchase Agreement | Class A-2 Units (contingent earnout)
Fair value of consideration transferred:
Units		$ 30,900,000

Self Administration Transacti_5

Self Administration Transaction - Summary of Estimated Fair Value Consideration Transferred (Parenthetical) (Detail) - Contribution Agreement $ in Millions	Jun. 28, 2019USD ($)
Business Acquisition [Line Items]
Fair market value	$ 0.5
Percentage of fair value of equity interests	50.00%

Self Administration Transacti_6

Self Administration Transaction - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail)	Sep. 30, 2019USD ($)
Assets Acquired:
Cash and cash equivalents	$ 36,443
Restricted cash	94,999
Land	975,000
Buildings	5,389,000
Site Improvements	136,000
Equipment, furniture and fixtures	651,000
Investments in Managed REITs	5,600,000
Other assets	1,084,629
Intangible assets	1,600,000
Trademarks	19,800,000
Intangibles - management contracts	24,900,000
Total assets acquired	60,267,071
Liabilities assumed:
Debt	19,219,126
Accounts payable and accrued liabilities	722,286
Deferred tax liabilities, net	7,415,654
Total liabilities assumed	27,357,066
Net identifiable assets acquired	32,910,005
Goodwill	78,372,980
Non-controlling interest related to consolidated Tenant Programs joint ventures	(21,800)
Net assets acquired	$ 111,261,185

Pro Forma Financial Informati_3

Pro Forma Financial Information (Unaudited) - Summary of Consolidated Results of Operations on Pro Forma Basis (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition Pro Forma Information [Abstract]
Pro forma revenue	$ 83,809,401	$ 62,518,667
Pro forma operating expenses	(76,382,169)	(52,578,442)
Pro forma net income (loss) attributable to common stockholders	$ (22,254,892)	$ (3,450,094)

Pro Forma Financial Informati_4

Pro Forma Financial Information (Unaudited) - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition Pro Forma Information [Abstract]
Pro forma acquisition related expenses	$ 1.6	$ 0

Schedule of Summarized Real Est

Schedule of Summarized Real Estate Secured Debt (Detail) - USD ($)		9 Months Ended
		Sep. 30, 2019	Jan. 24, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[1]	$ 824,452,233
Debt issuance costs, net				$ (36,907)
Total		$ 815,319,158		406,084,103
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[2]	5.00%
Debt Instrument Carrying Amount	[2]	$ 0		98,782,500
$11M KeyBank Subordinate Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[3]	6.25%
Debt Instrument Carrying Amount	[3]	$ 0		11,000,000
KeyBank CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount			$ 104,000,000
Debt Instrument Fixed Rate			5.00%
Debt Instrument Maturity Date		Feb. 1, 2029
Canadian CitiBank Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[4]	4.21%
Debt Instrument Carrying Amount	[4]	$ 82,543,360		72,846,480
Debt Instrument Maturity Date	[4]	Oct. 9, 2020
CMBS SASB Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[5]	5.02%
Debt Instrument Carrying Amount	[5]	$ 235,000,000		0
Debt Instrument Maturity Date	[5]	Feb. 9, 2022
Secured Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[6],[7]	4.52%
Debt Instrument Carrying Amount	[6],[7]	$ 95,362,000		0
Debt Instrument Maturity Date	[6],[7]	Jan. 24, 2022
Senior Term Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[7],[8]	6.27%
Debt Instrument Carrying Amount	[7],[8]	$ 86,300,000		0
Debt Instrument Maturity Date	[7],[8]	Jan. 24, 2022
Stoney Creek Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[9]	5.90%
Debt Instrument Carrying Amount	[9]	$ 5,497,319		0
Debt Instrument Maturity Date	[9]	Oct. 1, 2021
Torbarrie Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[10]	5.90%
Debt Instrument Carrying Amount	[10]	$ 2,791,947		0
Debt Instrument Maturity Date	[10]	Mar. 1, 2023
Ladera Office Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate		4.29%
Debt Instrument Carrying Amount		$ 4,199,915		0
Debt Instrument Maturity Date		Nov. 1, 2026
KeyBank Tenant Program Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate		5.52%
Debt Instrument Carrying Amount		$ 14,554,306		0
Debt Instrument Maturity Date		May 9, 2021
Fixed Rate Secured Debt
Debt Instrument [Line Items]
Premium on secured debt, net		$ 625,267		1,228,996
Debt issuance costs, net		(9,758,342)		(3,385,395)
Total		815,319,158
Fixed Rate Secured Debt | Raleigh Myrtle Beach Promissory Note
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[11]	$ 0		11,878,396
Debt Instrument Fixed Rate	[11]	5.73%
Fixed Rate Secured Debt | Oakland and Concord Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[12]	$ 0		19,483,127
Debt Instrument Fixed Rate	[12]	3.95%
Fixed Rate Secured Debt | KeyBank CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[13]	$ 95,000,000		95,000,000
Debt Instrument Fixed Rate	[13]	3.89%
Debt Instrument Maturity Date	[13]	Aug. 1, 2026
Fixed Rate Secured Debt | KeyBank Florida CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[14]	$ 52,000,000		52,000,000
Debt Instrument Fixed Rate	[14]	4.65%
Debt Instrument Maturity Date	[14]	May 1, 2027
Fixed Rate Secured Debt | Midland North Carolina CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[15]	$ 47,203,386		47,249,999
Debt Instrument Fixed Rate	[15]	5.31%
Debt Instrument Maturity Date	[15]	Aug. 1, 2024
Fixed Rate Secured Debt | CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[16]	$ 104,000,000		$ 0
Debt Instrument Fixed Rate	[16]	5.00%
Debt Instrument Maturity Date	[16]	Feb. 1, 2029
[1]	On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019
[2]	As of December 31, 2018, this facility encumbered 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). This loan was repaid in conjunction with the SSGT Merger financing.
[3]	This variable rate loan encumbered 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and was subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. This loan was repaid in conjunction with the SSGT Merger financing.
[4]	This variable rate loan encumbers 10 of our Canadian properties and the amount shown above is in USD based on the foreign exchange rate in effect as of September 30 , 2019. W e have purchased interest rate caps that cap CDOR at 3.0 % until October 15, 2021. The separate assets of these encumbered properties are not available to pay our other debts.
[5]	This variable rate loan encumbers 29 properties (Morrisville, Cary, Raleigh, Vallejo, Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Port St Lucie, Sacramento, Concord, Oakland, Wellington, Doral, Naples, Baltimore, Aurora, Jones Blvd - Las Vegas, Russell Rd - Las Vegas, Riverside, Stockton, Azusa, Romeoville, Elgin, San Antonio, Kingwood). In June 2019, we purchased an interest rate swap whereby LIBOR is fixed at 1.79% though February 15, 2022 .
[6]	This variable rate loan encumbers 17 properties (Colorado Springs, Aurora, San Antonio, Phoenix, 3173 Sweeten Creek Rd - Asheville, Elk Grove, Garden Grove, Deaverview Rd - Asheville, Highland Center Blvd - Asheville, Sarasota, Mount Pleasant, Pembroke Pines, Riverview, Eastlake, McKinney, Hualapai Way - Las Vegas, Gilbert). The separate assets of these encumbered properties are not available to pay our other debts.
[7]	We have a $161.2 million notional interest rate swap whereby LIBOR is fixed at approximately 2.6% until August 1, 2020. Subsequent to September 30, 2019, in connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of this interest rate swap which required a settlement payment of approximately $0.6 million.
[8]	This variable rate loan is encumbered by a pledge of 49% of the equity interests in our property-owning special purpose entities, other than those encumbered by the CMBS SASB Loan
[9]	This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Stoney Creek loan was assumed in the SSGT Mergers and had a balance of approximately $5 million USD as of the SSGT Mergers date. The Stoney Creek loan is secured by a first lien deed of trust on the Stoney Creek property and all improvements thereto, is cross-collateralized with the Torbarrie property, and is guaranteed by the Company. The amount shown above is in USD based on the foreign exchange rate in effect as of September 30, 2019.
[10]	This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Torbarrie loan was assumed in the SSGT Mergers and had no outstanding balance as of the date of the SSGT Mergers. The Torbarrie loan is a construction loan, which allows for borrowings up to approximately $10.3 million CAD and is
[11]	Fixed rate debt with principal and interest payments due monthly. This promissory note was encumbered by five properties, Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II. This loan was repaid in conjunction with the SSGT Merger financing.
[12]	This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixed the interest rate at 3.95%. This loan was repaid in conjunction with the SSGT Merger financing.
[13]	This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts.
[14]	This fixed rate loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray) with monthly interest only payments until June 2022, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts
[15]	This fixed rate loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments became due monthly.
[16]	This fixed rate loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts.

Schedule of Summarized Real E_2

Schedule of Summarized Real Estate Secured Debt (Parenthetical) (Detail)		Oct. 01, 2019USD ($)	Sep. 30, 2019USD ($)Property	Dec. 31, 2018USD ($)Property	Sep. 30, 2019CAD ($)Property	Jan. 25, 2019CAD ($)	Jan. 24, 2019USD ($)	Oct. 01, 2018USD ($)	Mar. 28, 2018CAD ($)
Debt Instrument [Line Items]
Derivative, notional amount			$ 161,200,000			$ 90,000,000			$ 101,000,000
Debt Instrument Carrying Amount	[1]		$ 824,452,233
Strategic Storage Growth Trust, Inc
Debt Instrument [Line Items]
Debt Instrument Carrying Amount								$ 19,000,000
Royal Bank of Canada Prime Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate			3.95%		3.95%
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Number of properties encumbered | Property				21
Debt Instrument, Interest Rate	[2]		5.00%		5.00%
Debt Instrument Carrying Amount	[2]		$ 0	$ 98,782,500
Oakland and Concord Loan | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount	[3]			$ 19,483,127
Interest rate, maturity date				Apr. 10, 2023
$11M KeyBank Subordinate Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			34		34
Percentage of real estate property encumbered variable rate loan			49.00%
Debt Instrument, Interest Rate	[4]		6.25%		6.25%
Debt Instrument Carrying Amount	[4]		$ 0	$ 11,000,000
KeyBank CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Fixed Rate							5.00%
Debt Instrument Carrying Amount							$ 104,000,000
Canadian Citi Bank Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			10		10
Canadian Citi Bank Loan | Interest Rate Cap
Debt Instrument [Line Items]
Effective interest rate cap on derivative instrument			3.00%		3.00%
CMBS SASB Loan
Debt Instrument [Line Items]
Number of properties encumbered			29
Debt Instrument, Interest Rate	[5]		5.02%		5.02%
Debt Instrument Carrying Amount	[5]		$ 235,000,000	0
CMBS SASB Loan | Interest Rate Swap | LIBOR
Debt Instrument [Line Items]
Fixed interest rate			1.79%		1.79%
Interest rate, maturity date			Feb. 15, 2022
Secured Loan
Debt Instrument [Line Items]
Number of properties encumbered			17
Debt Instrument, Interest Rate	[6],[7]		4.52%		4.52%
Debt Instrument Carrying Amount	[6],[7]		$ 95,362,000	0
Secured Loan | Interest Rate Cap | LIBOR
Debt Instrument [Line Items]
Effective interest rate cap on derivative instrument			2.60%		2.60%
Senior Term Loan
Debt Instrument [Line Items]
Percentage of real estate property encumbered variable rate loan			49.00%
Debt Instrument, Interest Rate	[7],[8]		6.27%		6.27%
Debt Instrument Carrying Amount	[7],[8]		$ 86,300,000	0
Senior Term Loan | Interest Rate Swap | Subsequent Event | Termination
Debt Instrument [Line Items]
Derivative, notional amount		$ 75,700,000
Settlement payment of interest rate swaps		600,000
Stoney Creek Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[9]		5.90%		5.90%
Debt Instrument Carrying Amount	[9]		$ 5,497,319	0
Stoney Creek Loan | Strategic Storage Growth Trust, Inc
Debt Instrument [Line Items]
Debt instrument, variable interest rate			1.95%
Debt Instrument Carrying Amount							5,000,000
Stoney Creek Loan | Strategic Storage Growth Trust, Inc | Minimum
Debt Instrument [Line Items]
Debt Instrument Fixed Rate			4.65%		4.65%
Torbarrie Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[10]		5.90%		5.90%
Debt Instrument Carrying Amount	[10]		$ 2,791,947	0
Torbarrie Loan | Strategic Storage Growth Trust, Inc
Debt Instrument [Line Items]
Debt instrument, variable interest rate			1.95%
Debt Instrument Carrying Amount							$ 0
Maximum borrowings under credit facility					$ 10,300,000
Torbarrie Loan | Strategic Storage Growth Trust, Inc | Minimum
Debt Instrument [Line Items]
Debt Instrument Fixed Rate			4.65%		4.65%
Fixed Rate Secured Debt | Interest Rate Swap | Subsequent Event | Termination
Debt Instrument [Line Items]
Derivative, notional amount		75,700,000
Settlement payment of interest rate swaps		$ 600,000
Fixed Rate Secured Debt | Raleigh Myrtle Beach Promissory Note
Debt Instrument [Line Items]
Number of properties encumbered | Property			5		5
Debt Instrument Fixed Rate	[11]		5.73%		5.73%
Debt Instrument Carrying Amount	[11]		$ 0	11,878,396
Fixed Rate Secured Debt | Oakland and Concord Loan
Debt Instrument [Line Items]
Debt Instrument Fixed Rate	[12]		3.95%		3.95%
Debt Instrument Carrying Amount	[12]		$ 0	19,483,127
Fixed Rate Secured Debt | Oakland and Concord Loan | Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate			3.95%		3.95%
Fixed Rate Secured Debt | KeyBank Florida CMBS Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			5		5
Debt Instrument Fixed Rate	[13]		4.65%		4.65%
Debt Instrument Carrying Amount	[13]		$ 52,000,000	52,000,000
Fixed Rate Secured Debt | KeyBank CMBS Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			29		29
Debt Instrument Fixed Rate	[14]		3.89%		3.89%
Debt Instrument Carrying Amount	[14]		$ 95,000,000	95,000,000
Fixed Rate Secured Debt | KeyBank Property Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			5		5
Fixed Rate Secured Debt | Midland North Carolina CMBS Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			11		11
Debt Instrument Fixed Rate	[15]		5.31%		5.31%
Debt Instrument Carrying Amount	[15]		$ 47,203,386	47,249,999
Fixed Rate Secured Debt | CMBS Loan
Debt Instrument [Line Items]
Number of properties encumbered | Property			10		10
Debt Instrument Fixed Rate	[16]		5.00%		5.00%
Debt Instrument Carrying Amount	[16]		$ 104,000,000	$ 0
[1]	On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019
[2]	As of December 31, 2018, this facility encumbered 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). This loan was repaid in conjunction with the SSGT Merger financing.
[3]	The Oakland and Concord loan interest rate swap was settled on January 24, 2019 in conjunction with the SSGT Mergers.
[4]	This variable rate loan encumbered 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and was subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. This loan was repaid in conjunction with the SSGT Merger financing.
[5]	This variable rate loan encumbers 29 properties (Morrisville, Cary, Raleigh, Vallejo, Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Port St Lucie, Sacramento, Concord, Oakland, Wellington, Doral, Naples, Baltimore, Aurora, Jones Blvd - Las Vegas, Russell Rd - Las Vegas, Riverside, Stockton, Azusa, Romeoville, Elgin, San Antonio, Kingwood). In June 2019, we purchased an interest rate swap whereby LIBOR is fixed at 1.79% though February 15, 2022 .
[6]	This variable rate loan encumbers 17 properties (Colorado Springs, Aurora, San Antonio, Phoenix, 3173 Sweeten Creek Rd - Asheville, Elk Grove, Garden Grove, Deaverview Rd - Asheville, Highland Center Blvd - Asheville, Sarasota, Mount Pleasant, Pembroke Pines, Riverview, Eastlake, McKinney, Hualapai Way - Las Vegas, Gilbert). The separate assets of these encumbered properties are not available to pay our other debts.
[7]	We have a $161.2 million notional interest rate swap whereby LIBOR is fixed at approximately 2.6% until August 1, 2020. Subsequent to September 30, 2019, in connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of this interest rate swap which required a settlement payment of approximately $0.6 million.
[8]	This variable rate loan is encumbered by a pledge of 49% of the equity interests in our property-owning special purpose entities, other than those encumbered by the CMBS SASB Loan
[9]	This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Stoney Creek loan was assumed in the SSGT Mergers and had a balance of approximately $5 million USD as of the SSGT Mergers date. The Stoney Creek loan is secured by a first lien deed of trust on the Stoney Creek property and all improvements thereto, is cross-collateralized with the Torbarrie property, and is guaranteed by the Company. The amount shown above is in USD based on the foreign exchange rate in effect as of September 30, 2019.
[10]	This variable rate loan bears interest at a rate of 1.95% plus Royal Bank of Canada Prime Rate, which was approximately 3.95% as of September 30, 2019, and in no event shall the total interest rate fall below 4.65% per annum. The Torbarrie loan was assumed in the SSGT Mergers and had no outstanding balance as of the date of the SSGT Mergers. The Torbarrie loan is a construction loan, which allows for borrowings up to approximately $10.3 million CAD and is
[11]	Fixed rate debt with principal and interest payments due monthly. This promissory note was encumbered by five properties, Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II. This loan was repaid in conjunction with the SSGT Merger financing.
[12]	This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixed the interest rate at 3.95%. This loan was repaid in conjunction with the SSGT Merger financing.
[13]	This fixed rate loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray) with monthly interest only payments until June 2022, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts
[14]	This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts.
[15]	This fixed rate loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments became due monthly.
[16]	This fixed rate loan encumbers 10 properties (Myrtle Beach I, Myrtle Beach II, Port St. Lucie, Plantation, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Ft Pierce, Nantucket Island). The separate assets of these encumbered properties are not available to pay our other debts.

Debt - Additional Information (

Debt - Additional Information (Detail)

Oct. 17, 2019USD ($)

Oct. 01, 2019USD ($)

Jun. 07, 2019USD ($)

Jan. 24, 2019USD ($)PropertyExtension

Oct. 29, 2018USD ($)

Oct. 11, 2018CAD ($)PropertyExtension

Sep. 30, 2019USD ($)Property

Sep. 30, 2018USD ($)

Sep. 30, 2019USD ($)PropertyExtension

Sep. 30, 2018USD ($)

Oct. 29, 2019USD ($)

Oct. 29, 2019CAD ($)

Oct. 01, 2019CAD ($)

Sep. 30, 2019CAD ($)Property

Aug. 30, 2019USD ($)

Jul. 11, 2019USD ($)

Jan. 25, 2019CAD ($)

Dec. 31, 2018USD ($)Property

Oct. 01, 2018USD ($)

Mar. 28, 2018CAD ($)

Debt Instrument [Line Items]

Weighted average interest rate on debt

4.90%

4.90%

4.90%

Loss on extinguishment of debt

$ 0

$ 0

$ (1,487,867)

$ 0

Debt Instrument Carrying Amount

[1]

824,452,233

824,452,233

Line of credit facility, number of extension options | Extension

2

Line of credit facility, term of extension options

1 year

Debt instrument, basis spread on variable rate

4.25%

Derivative, notional amount

161,200,000

161,200,000

$ 90,000,000

$ 101,000,000

Debt instrument face amount

$ 500,178,000

Repayments of debt

141,088,724

$ 2,200,000

Senior Term Loan

Debt Instrument [Line Items]

Debt instrument face amount

$ 72,000,000

86,300,000

86,300,000

Percentage Of Equity Interest Securing Loan

49.00%

Proceeds from issuance equity

$ 50,000,000

Line of credit facility, Additional borrowing capacity

$ 15,700,000

14,300,000

$ 14,300,000

Fixed Rate Secured Debt

Debt Instrument [Line Items]

Debt instrument, description of variable rate basis

LIBOR plus 2.5%

Debt instrument, basis spread on variable rate

2.50%

Derivative, notional amount

$ 89,200,000

Debt instrument, interest rate

2.60%

Debt instrument face amount

$ 89,178,000

Senior Term Loan

Debt Instrument [Line Items]

Debt instrument, description of variable rate basis

LIBOR plus 4.25%

Derivative, notional amount

$ 72,000,000

Debt instrument, interest rate

2.60%

Debt instrument face amount

$ 72,000,000

Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

$ 95,400,000

Fixed Rate Secured Debt

Debt Instrument [Line Items]

Number of wholly owned properties | Property

16

Debt Instrument Maturity Date

Jan. 24, 2022

Line of credit facility, number of extension options | Extension

1

Line of credit facility, term of extension options

1 year

Debt instrument face amount

$ 89,200,000

Amended KeyBank Credit Facility

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

[2]

0

$ 0

$ 98,782,500

Line of credit facility, number of extension options | Extension

2

Line of credit facility, term of extension options

1 year

Debt instrument face amount

110,000,000

$ 110,000,000

Number of properties encumbered | Property

21

Line of credit facility, description

The Amended KeyBank Credit Facility was a revolving loan with an initial term of three years, initially set to mature on December 22, 2018, with two one-year extension options subject to certain conditions outlined further in the credit agreement for the Amended KeyBank Credit Facility. On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019 and reduce the maximum borrowing capacity from $145 million to $110 million. As of December 31, 2018, we had approximately $98.8 million in borrowings outstanding under the Amended KeyBank Credit Facility. On January 24, 2019, we paid off and terminated the Amended KeyBank Credit Facility in conjunction with the SSGT Mergers.

Line of credit facility, maturity date

Feb. 20, 2019

Dec. 22, 2018

Line of credit facility, initial term

3 years

Line Of Credit Facility Potential Additional Borrowing Capacity

$ 145,000,000

Amended KeyBank Credit Facility | Fixed Rate Secured Debt

Debt Instrument [Line Items]

Outstanding balance on credit facility

98,800,000

$ 98,800,000

Interest Rate Swap | Subsequent Event | Termination | Fixed Rate Secured Debt

Debt Instrument [Line Items]

Derivative, notional amount

75,700,000

Interest Rate Swap | Subsequent Event | Fixed Rate Secured Debt | Termination

Debt Instrument [Line Items]

Derivative, notional amount

$ 85,500,000

KeyBank and Citi Real Estate Funding

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

235,000,000

CMBS SASB Mortgage Loan

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

$ 180,000,000

Number of wholly owned properties | Property

29

Debt Instrument Maturity Date

Feb. 9, 2022

Derivative, notional amount

$ 180,000,000

Derivative, inception date

Jan. 24, 2019

CMBS SASB Mortgage Loan | Interest Rate Cap

Debt Instrument [Line Items]

Derivative, notional amount

$ 180,000,000

CMBS SASB Mezzanine Loan

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

$ 55,000,000

Number of special purpose entities | Property

29

Debt Instrument Maturity Date

Feb. 9, 2022

Derivative, notional amount

$ 55,000,000

Derivative, inception date

Jan. 24, 2019

CMBS SASB Mezzanine Loan | Interest Rate Cap

Debt Instrument [Line Items]

Derivative, notional amount

$ 55,000,000

CMBS SASB Loan

Debt Instrument [Line Items]

Debt instrument, description

(a) the borrower with respect to the CMBS SASB Mortgage Loan has purchased an interest rate cap with a notional amount of $180 million, with an effective date of January 24, 2019, whereby LIBOR is capped at 3% through February 15, 2022 and (b) the borrower with respect to the CMBS SASB Mezzanine Loan has purchased an interest rate cap with a notional amount of $55 million, with an effective date of January 24, 2019, whereby LIBOR is capped at 3% through February 15, 2022. On June 7, 2019, to effectively terminate our $180 million and $55 million existing interest rate caps, we sold an offsetting interest rate cap with a notional amount of $235 million, whereby LIBOR is capped at 3% through February 15, 2022.  We simultaneously entered into an interest rate swap with a notional amount of $235 million, whereby LIBOR is fixed at 1.79% through February 15, 2022. None of the CMBS SASB Loan may be prepaid, in whole or in part, without satisfying certain conditions as set forth in the respective CMBS SASB Loan Agreements, such as the payment of a spread maintenance premium if the prepayment is made within the first two years. Thereafter the CMBS SASB Loan may be prepaid in whole or in part at par without penalty

Debt instrument face amount

$ 235,000,000

CMBS SASB Loan | LIBOR

Debt Instrument [Line Items]

Debt instrument, description of variable rate basis

LIBOR plus 3%

Debt instrument, basis spread on variable rate

3.00%

CMBS SASB Loan | Interest Rate Cap

Debt Instrument [Line Items]

Debt Instrument Maturity Date

Feb. 15, 2022

Derivative, notional amount

$ 235,000,000

Debt instrument, interest rate

3.00%

CMBS SASB Loan | Interest Rate Swap

Debt Instrument [Line Items]

Debt Instrument Maturity Date

Feb. 15, 2022

Derivative, notional amount

$ 235,000,000

Debt instrument, interest rate

1.79%

KeyBank CMBS Loan

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

$ 104,000,000

Number of wholly owned properties | Property

10

Debt Instrument Maturity Date

Feb. 1, 2029

Debt instrument, interest rate

5.00%

Minimum Number of Years to Defease the Loan

2 years

KeyBank CMBS Loan | Fixed Rate Secured Debt

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

[3]

$ 95,000,000

$ 95,000,000

$ 95,000,000

Debt Instrument Maturity Date

[3]

Aug. 1, 2026

Debt instrument, interest rate

[3]

3.89%

3.89%

3.89%

Number of properties encumbered | Property

29

29

29

KeyBank and SunTrust Bank

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

$ 96,400,000

Secured Loan

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

[4],[5]

$ 95,362,000

$ 95,362,000

$ 0

Debt Instrument Maturity Date

[4],[5]

Jan. 24, 2022

Number of properties encumbered

17

17

Secured Loan | Interest Rate Cap | LIBOR

Debt Instrument [Line Items]

Debt instrument, interest rate

2.60%

2.60%

2.60%

KeyBank and SunTrust Bank Operating Partnership

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

87,700,000

Canadian CitiBank | Canadian Debt Refinancing

Debt Instrument [Line Items]

Line of credit facility, number of extension options | Extension

3

Line of credit facility, term of extension options

1 year

Derivative, notional amount

$ 112,000,000

$ 109,300,000

Debt instrument, interest rate

3.00%

Debt instrument, interest rate

0.25%

Line of credit facility, Additional borrowing capacity

$ 2,700,000

Number of properties encumbered | Property

10

Maximum borrowings under credit facility

$ 112,000,000

Proceeds from line of credit

$ 99,300,000

Line of credit facility, description

The CitiBank Loan Agreement is a term loan that matures on October 9, 2020, which may, in certain circumstances, be extended at our option for three consecutive terms of one year each. Monthly payments due under the CitiBank Loan Agreement are interest-only, with the full principal amount becoming due and payable on the maturity date.

Line of credit facility, maturity date

Oct. 9, 2020

Line of credit, interest rate description

The amounts outstanding under the CitiBank Loan Agreement bear interest at a rate equal to the sum of the “CDOR” (as defined in the CitiBank Loan Agreement) and 2.25%.

Canadian CitiBank | Subsequent Event

Debt Instrument [Line Items]

Additional amount to draw

$ 2,000,000

Canadian CitiBank | Subsequent Event | Canadian Debt Refinancing

Debt Instrument [Line Items]

Line of credit facility, additional drew amount

$ 2,000,000

Canadian CitiBank | Subsequent Event | Canadian Debt Refinancing | Maximum

Debt Instrument [Line Items]

Line of credit facility, Additional borrowing capacity

$ 700,000

Strategic Storage Growth Trust, Inc

Debt Instrument [Line Items]

Loss on extinguishment of debt

1,500,000

Debt Instrument Carrying Amount

$ 19,000,000

Debt instrument face amount

$ 500,000,000

Riggs Road Property | Fixed Rate Secured Debt

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

$ 5,700,000

Riggs Road Property | Senior Term Loan

Debt Instrument [Line Items]

Debt Instrument Carrying Amount

4,300,000

Riggs Road Property | Fixed Rate Secured Debt

Debt Instrument [Line Items]

Additional amount to draw

$ 500,000

$ 5,700,000

Outstanding balance on credit facility

$ 95,400,000

San Antonio II Property | Secured Loan | Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

$ 9,900,000

$ 9,900,000

[1]

On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

[2]

As of December 31, 2018, this facility encumbered 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). This loan was repaid in conjunction with the SSGT Merger financing.

[3]

This fixed rate loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II) with monthly interest only payments until September 2021, at which time both interest and principal payments will be due monthly. The separate assets of these encumbered properties are not available to pay our other debts.

[4]

This variable rate loan encumbers 17 properties (Colorado Springs, Aurora, San Antonio, Phoenix, 3173 Sweeten Creek Rd - Asheville, Elk Grove, Garden Grove, Deaverview Rd - Asheville, Highland Center Blvd - Asheville, Sarasota, Mount Pleasant, Pembroke Pines, Riverview, Eastlake, McKinney, Hualapai Way - Las Vegas, Gilbert). The separate assets of these encumbered properties are not available to pay our other debts.

[5]

We have a $161.2 million notional interest rate swap whereby LIBOR is fixed at approximately 2.6% until August 1, 2020. Subsequent to September 30, 2019, in connection with the pay off of the Senior Term Loan, we terminated approximately $75.7 million of this interest rate swap which required a settlement payment of approximately $0.6 million.

Debt - Summary of Merger Financ

Debt - Summary of Merger Financings (Detail)	Jan. 24, 2019USD ($)
Debt Instrument [Line Items]
Principal Borrowing as of Merger Date	$ 500,178,000
CMBS SASB Loan
Debt Instrument [Line Items]
Principal Borrowing as of Merger Date	235,000,000
CMBS Loan
Debt Instrument [Line Items]
Principal Borrowing as of Merger Date	104,000,000
Fixed Rate Secured Debt
Debt Instrument [Line Items]
Principal Borrowing as of Merger Date	89,178,000
Senior Term Loan
Debt Instrument [Line Items]
Principal Borrowing as of Merger Date	$ 72,000,000

Debt - Summary of Payment Relat

Debt - Summary of Payment Related to Merger Consideration and Repayment of Debt (Detail)	Jan. 24, 2019USD ($)
Debt Instrument [Line Items]
Principal Repaid	$ 141,088,724
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Principal Repaid	98,782,500
Raleigh Myrtle Beach Promissory Note
Debt Instrument [Line Items]
Principal Repaid	11,862,471
Oakland and Concord Loan
Debt Instrument [Line Items]
Principal Repaid	19,443,753
$11M KeyBank Subordinate Loan
Debt Instrument [Line Items]
Principal Repaid	$ 11,000,000

Debt - Summary of Payment Rel_2

Debt - Summary of Payment Related to Merger Consideration and Repayment of Debt (Paranthetical) (Detail) $ in Millions	Jan. 24, 2019USD ($)
KeyBank Subordinate Loan
Debt Instrument [Line Items]
Subordinate Loan	$ 11

Future Principal Payment Requir

Future Principal Payment Requirements on Outstanding Debt (Detail) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Debt, Fiscal Year Maturity
2019	[1]	$ 729,326
2020	[1]	86,251,637
2021	[1]	17,791,959
2022		419,576,829
2023		6,176,525
2024 and thereafter		293,925,957
Total payments	[2]	824,452,233
Debt issuance costs, net			$ (36,907)
Total		815,319,158	406,084,103
Fixed Rate Secured Debt
Debt, Fiscal Year Maturity
Premium on secured debt, net		625,267	1,228,996
Debt issuance costs, net		(9,758,342)	$ (3,385,395)
Total		$ 815,319,158
[1]	The amounts reflected above include the requisite principal payments on the KeyBank Tenant Program Loan, such that the amount outstanding on the KeyBank Tenant Program Loan as of the end of each respective period is equal to the associated maximum balance described in Note 4.
[2]	On October 18, 2019, in connection with the sale of the San Antonio II property, we paid off approximately $9.9 million and $5.4 million on the Secured Loan and Senior Term Loan, respectively. On October 29, 2019, we paid off the entire principal balance of the Senior Term Loan and the KeyBank Tenant Program Loan. Due to the aforementioned transactions, a $2.0 million CAD Canadian CitiBank Loan draw, and normal scheduled amortizing payments, as of October 29, 2019

Future Principal Payment Requ_2

Future Principal Payment Requirements on Outstanding Debt (Parenthetical) (Detail) $ in Millions		1 Months Ended
		Oct. 18, 2019USD ($)	Oct. 29, 2019USD ($)	Oct. 29, 2019CAD ($)	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
2019	[1]				$ 729,326
2020	[1]				86,251,637
2021	[1]				17,791,959
2022					419,576,829
2023					6,176,525
2024 and thereafter					$ 293,925,957
Subsequent Event
Debt Instrument [Line Items]
2019			$ 100,000
2020			84,800,000
2021			6,800,000
2022			323,400,000
2023			6,200,000
2024 and thereafter			$ 293,900,000
Subsequent Event | Canadian CitiBank
Debt Instrument [Line Items]
Additional amount to draw				$ 2
Subsequent Event | San Antonio II Property | Fixed Rate Secured Debt | Secured Loan
Debt Instrument [Line Items]
Repayment of loan		$ 9,900,000
Subsequent Event | San Antonio II Property | Fixed Rate Secured Debt | Senior Term Loan
Debt Instrument [Line Items]
Repayment of loan		$ 5,400,000
[1]	The amounts reflected above include the requisite principal payments on the KeyBank Tenant Program Loan, such that the amount outstanding on the KeyBank Tenant Program Loan as of the end of each respective period is equal to the associated maximum balance described in Note 4.

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail)	Jul. 08, 2019USD ($)	Jan. 25, 2019USD ($)	Jan. 25, 2019USD ($)	Mar. 28, 2018USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Sep. 30, 2019USD ($)	Jul. 08, 2019CAD ($)	Jan. 25, 2019CAD ($)	Mar. 28, 2018CAD ($)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Foreign currency forward contract gain	$ 600,000	$ 2,100,000	$ 2,100,000	$ 2,200,000		$ (1,039,585)	$ (846,581)	$ (1,083,267)	$ 1,441,209	$ 2,073,290
Derivative, notional amount					$ 161,200,000						$ 161,200,000		$ 90,000,000	$ 101,000,000
Foreign Exchange Option
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional amount												$ 95,000,000
Foreign Currency Forward
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional amount												$ 95,000,000	$ 95,000,000	$ 90,000,000
Other income (expense)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Change in fair value of derivatives not designated in hedging relationships					20,000						20,000
Gain (loss) on foreign currency hedge contract, ineffective portion					$ 13,000						$ 600,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Derivative Financial Instruments (Detail)		9 Months Ended		12 Months Ended
		Sep. 30, 2019USD ($)$ / Unit		Dec. 31, 2018USD ($)$ / Unit		Sep. 30, 2019CAD ($)$ / Unit	Jul. 08, 2019CAD ($)	Jan. 25, 2019CAD ($)	Dec. 31, 2018CAD ($)$ / Unit	Mar. 28, 2018CAD ($)
Derivative [Line Items]
Derivative, notional amount		$ 161,200,000						$ 90,000,000		$ 101,000,000
Interest Rate Swap | Oakland and Concord Loan
Derivative [Line Items]
Derivative, notional amount	[1]			$ 19,483,127
Interest Rate Swaps, Strike				3.95%					3.95%
Interest Rate Swaps, Effective Date or Date Assumed				May 18, 2016
Interest Rate Swaps, Maturity Date				Apr. 10, 2023
Interest Rate Swap | LIBOR Swap Effective January 24, 2019
Derivative [Line Items]
Derivative, notional amount	[2]	$ 161,178,000
Interest Rate Swaps, Strike		2.61%				2.61%
Interest Rate Swaps, Effective Date or Date Assumed		Jan. 24, 2019
Interest Rate Swaps, Maturity Date		Aug. 1, 2020
Interest Rate Swap | LIBOR Swap Effective June 15, 2019
Derivative [Line Items]
Derivative, notional amount		$ 235,000,000
Interest Rate Swaps, Strike		1.79%				1.79%
Interest Rate Swaps, Effective Date or Date Assumed		Jun. 15, 2019
Interest Rate Swaps, Maturity Date		Feb. 15, 2022
Interest Rate Cap | CDOR Cap Effective October 11, 2018
Derivative [Line Items]
Derivative, notional amount		$ 99,300,000	[3]	$ 99,300,000	[4]
Interest Rate Swaps, Strike		3.00%		3.00%		3.00%			3.00%
Interest Rate Swaps, Effective Date or Date Assumed		Oct. 11, 2018		Oct. 11, 2018
Interest Rate Swaps, Maturity Date		Oct. 15, 2021		Oct. 15, 2021
Interest Rate Cap | CDOR Cap Effective March 28, 2019
Derivative [Line Items]
Derivative, notional amount	[3]	$ 1,000,000
Interest Rate Swaps, Strike		3.00%				3.00%
Interest Rate Swaps, Effective Date or Date Assumed		Mar. 28, 2019
Interest Rate Swaps, Maturity Date		Oct. 15, 2021
Interest Rate Cap | CDOR Cap Effective May 28, 2019
Derivative [Line Items]
Derivative, notional amount	[3]	$ 11,700,000
Interest Rate Swaps, Strike		3.00%				3.00%
Interest Rate Swaps, Effective Date or Date Assumed		May 28, 2019
Interest Rate Swaps, Maturity Date		Oct. 15, 2021
Foreign Exchange Option
Derivative [Line Items]
Derivative, notional amount							$ 95,000,000
Foreign Currency Forward, Notional Amount	[3],[5]					$ 95,000,000
Foreign Currency Forward, Strike | $ / Unit		1.372				1.372
Foreign Currency Forward, Effective Date or Date Assumed		Jul. 8, 2019
Foreign Currency Forward, Maturity Date		Dec. 9, 2019
Foreign Currency Forward
Derivative [Line Items]
Derivative, notional amount							$ 95,000,000	$ 95,000,000		$ 90,000,000
Foreign Currency Forward, Notional Amount	[4]								$ 90,000,000
Foreign Currency Forward, Strike | $ / Unit				1.2846					1.2846
Foreign Currency Forward, Effective Date or Date Assumed				Mar. 28, 2018
Foreign Currency Forward, Maturity Date	[6]			Jan. 28, 2019
[1]	The Oakland and Concord loan interest rate swap was settled on January 24, 2019 in conjunction with the SSGT Mergers.
[2]
[3]
[4]	Notional amount shown is denominated in CAD.
[5]
[6]	We settled this foreign currency forward on January 25, 2019 and received a settlement of approximately $2.1 million.

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Derivative Financial Instruments (Parenthetical) (Detail)	Oct. 01, 2019USD ($)	Jul. 08, 2019USD ($)	Jan. 25, 2019USD ($)	Jan. 25, 2019USD ($)	Mar. 28, 2018USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Sep. 30, 2019USD ($)	Jan. 25, 2019CAD ($)	Mar. 28, 2018CAD ($)
Derivative [Line Items]
Derivative, notional amount											$ 161,200,000	$ 90,000,000	$ 101,000,000
Foreign currency forward contract gains (loss)		$ 600,000	$ 2,100,000	$ 2,100,000	$ 2,200,000	$ (1,039,585)	$ (846,581)	$ (1,083,267)	$ 1,441,209	$ 2,073,290
Senior Term Loan | Interest Rate Swap | Termination | Subsequent Event
Derivative [Line Items]
Derivative, notional amount	$ 75,700,000
Settlement payment of interest rate swaps	$ 600,000

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Fair Value of Derivative Financial Instruments and Classification In Consolidated Balance Sheets (Detail) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Interest Rate Swaps [Member] | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	$ 0	$ 361,802
Interest Rate Swaps [Member] | Accounts payable and accrued liabilities
Derivatives Fair Value [Line Items]
Derivative fair value, liability	3,147,573	0
Interest Rate Cap | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	59,358	87,808
Interest Rate Cap | Accounts payable and accrued liabilities
Derivatives Fair Value [Line Items]
Derivative fair value, liability	25,611
Foreign Currency Hedges | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	$ 65,652	$ 4,016,806

Segment Disclosures - Additiona

Segment Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019Segment
Segment Reporting [Abstract]
Number of reportable business segments	2

Summary of Reportable Segments

Summary of Reportable Segments (Detail) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 29,588,014				$ 20,313,069	$ 79,451,856	$ 60,225,042
Operating expenses:
General and administrative	3,519,557				999,439	7,000,627	3,632,649
Depreciation	7,639,190				5,097,944	21,928,108	15,245,530
Intangible amortization expense	3,741,046				179,613	7,822,354	2,398,378
Contingent earnout expense	300,000				0	300,000	0
Self administration transaction expenses	107,100				0	1,595,371	0
Acquisition expenses – affiliates	0				16,422	84,061	42,642
Other property acquisition expenses	25,529				554,661	109,765	808,091
Total operating expenses	27,773,486	$ 25,211,611	$ 21,934,203	$ 15,808,549	15,836,436	74,919,300	48,452,265
Operating income	1,814,528	768,906	1,949,122	4,378,666	4,476,633	4,532,556	11,772,777
Other income (expense):
Interest expense	(10,260,936)				(4,587,573)	(28,584,740)	(13,417,041)
Interest expense – accretion of fair market value of secured debt	33,191				111,383	98,850	336,894
Interest expense – debt issuance costs	(1,082,543)				(330,639)	(2,997,801)	(975,591)
Gain resulting from acquisition of unconsolidated affiliates	0				0	8,017,353	0
Other	(45,819)				(127,082)	(352,219)	(278,694)
Net loss on extinguishment of debt	0				0	(1,487,867)	0
Net loss	(9,541,579)	$ (2,283,972)	$ (8,948,317)	$ (1,159,075)	(457,278)	(20,773,868)	(2,561,655)
Self Storage Rental Revenue
Revenues:
Total revenues	25,669,615				19,796,139	74,056,235	58,784,034
Ancillary Operating Revenue
Revenues:
Total revenues	1,188,934				516,930	2,589,985	1,441,008
Managed REIT Platform Revenue
Revenues:
Total revenues	1,192,665				0	1,221,727	0
Reimbursable Costs from Managed REITs
Revenues:
Total revenues	1,536,800				0	1,583,909	0
Operating expenses:
Operating expenses	1,536,800				0	1,583,909	0
Property Operating Expenses
Operating expenses:
Operating expenses	9,655,599				6,416,687	26,630,201	18,637,792
Property Operating Expenses – Affiliates
Operating expenses:
Operating expenses	0				2,571,670	6,605,670	7,687,183
Managed REIT Platform Expenses
Operating expenses:
Operating expenses	1,248,665				$ 0	1,259,234	$ 0
Self Storage
Revenues:
Total revenues	26,858,549					76,646,220
Operating expenses:
Depreciation	7,470,184					21,750,206
Intangible amortization expense	2,503,987					6,524,347
Acquisition expenses – affiliates						84,061
Other property acquisition expenses	25,529					109,765
Total operating expenses	19,655,299					61,704,250
Operating income	7,203,250					14,941,970
Other income (expense):
Interest expense	(10,214,822)					(28,537,117)
Interest expense – accretion of fair market value of secured debt	33,191					98,850
Interest expense – debt issuance costs	(1,082,543)					(2,997,801)
Gain resulting from acquisition of unconsolidated affiliates						8,017,353
Other	(106,450)					(414,871)
Net loss on extinguishment of debt						(1,487,867)
Net loss	(4,167,374)					(10,379,483)
Self Storage | Self Storage Rental Revenue
Revenues:
Total revenues	25,669,615					74,056,235
Self Storage | Ancillary Operating Revenue
Revenues:
Total revenues	1,188,934					2,589,985
Self Storage | Property Operating Expenses
Operating expenses:
Operating expenses	9,655,599					26,630,201
Self Storage | Property Operating Expenses – Affiliates
Operating expenses:
Operating expenses						6,605,670
Managed REIT Platform
Revenues:
Total revenues	2,729,465					2,805,636
Operating expenses:
Intangible amortization expense	1,237,059					1,298,007
Total operating expenses	4,022,524					4,141,150
Operating income	(1,293,059)					(1,335,514)
Other income (expense):
Other	60,631					62,652
Net loss	(1,232,428)					(1,272,862)
Managed REIT Platform | Managed REIT Platform Revenue
Revenues:
Total revenues	1,192,665					1,221,727
Managed REIT Platform | Reimbursable Costs from Managed REITs
Revenues:
Total revenues	1,536,800					1,583,909
Operating expenses:
Operating expenses	1,536,800					1,583,909
Managed REIT Platform | Managed REIT Platform Expenses
Operating expenses:
Operating expenses	1,248,665					1,259,234
Corporate and Other
Operating expenses:
General and administrative	3,519,557					7,000,627
Depreciation	169,006					177,902
Contingent earnout expense	300,000					300,000
Self administration transaction expenses	107,100					1,595,371
Total operating expenses	4,095,663					9,073,900
Operating income	(4,095,663)					(9,073,900)
Other income (expense):
Interest expense	(46,114)					(47,623)
Net loss	$ (4,141,777)					$ (9,121,523)

Summary of Total Assets by Segm

Summary of Total Assets by Segment (Detail) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		$ 1,279,662,270	$ 796,354,037
Self Storage
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		1,139,087,776
Managed REIT Platform
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		29,739,174
Corporate and Other
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	[1]	$ 110,835,320
[1]	We are still in the process of gathering certain additional information in order to finalize our assessment of the fair value of the consideration as well as the assets and liabilities acquired in the Self Administration Transaction, thus the provisional measurements are subject to change. Additionally, we have not completed our allocation of intangible assets to the reportable segments; therefore such amounts were included in Corporate and Other as of September 30, 2019 in the above.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Jun. 28, 2019	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Employee	Sep. 30, 2018USD ($)
Related Party Transaction [Line Items]
Sale commission fees percentage of proceed from Primary Offering				2.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering				3.00%
Underwriting commission				10.00%
Total revenues		$ 29,588,014	$ 20,313,069	$ 79,451,856	$ 60,225,042
Agreement term	3 years
Strategic Storage Trust IV, Inc.
Related Party Transaction [Line Items]
Receivables due from related parties		79,000		79,000
Strategic Storage Growth Trust, Inc
Related Party Transaction [Line Items]
Receivables due from related parties		$ 34,000		$ 34,000
Auction Company
Related Party Transaction [Line Items]
Percentage of limited partnership interests		50.00%		50.00%
Total revenues		$ 11,000	$ 15,000	$ 34,000	$ 30,000
Type of Revenue [Extensible List]		us-gaap:ShareholderServiceMember	us-gaap:ShareholderServiceMember	us-gaap:ShareholderServiceMember	us-gaap:ShareholderServiceMember
Tenant Programs
Related Party Transaction [Line Items]
Operating revenue		$ 1,000,000	$ 400,000	$ 2,000,000	$ 1,100,000
Tenant Programs | TRS subsidiary
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture		50.00%		50.00%
Percentage of net economics generated from tenant insurance received under terms of joint venture agreement				50.00%
Class A Common stock
Related Party Transaction [Line Items]
Sale commission fees percentage of proceed from Primary Offering				7.00%
Class T Common stock
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description				accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Advisory Agreement
Related Party Transaction [Line Items]
Number of self storage professionals acquired | Employee				350
Gross proceeds from offering, threshold percentage of expenses for reimbursement		15.00%		15.00%
Reimbursement of offering cost				$ 0
Rate of acquisition fees of purchase price of contract		1.75%		1.75%
Monthly asset management fee				0.05208%
Monthly asset management fee one twelfth of less than one percentage of average invested assets				one-twelfth of 0.625%
Disposition fees percentage of sale price of property				1.00%
Operating expenses reimbursement percentage of average investment in assets				2.00%
Operating expenses reimbursement percentage of net income				25.00%
Advisory Agreement | Maximum
Related Party Transaction [Line Items]
Commission percentage of sale price of property				6.00%
Primary Offering Dealer Manager Agreement | Class A Common stock
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares				10.00%
Primary Offering Dealer Manager Agreement | Class T Common stock
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares				10.00%
SmartStop Asset Management
Related Party Transaction [Line Items]
Percentage of non-voting equity owned				15.00%
Transfer Agent Agreement
Related Party Transaction [Line Items]
Initial setup fees paid to agent				$ 50,000
Transfer agent agreement term				3 years
Transfer agent renewal agreement term				1 year
Transfer agent agreement termination description				The initial term of the transfer agent agreement is three years, which term will be automatically renewed for one year successive terms, but either party may terminate the transfer agent agreement upon 90 days’ prior written notice. In the event that we terminate the transfer agent agreement, other than for cause, we will pay our transfer agent all amounts that would have otherwise accrued during the remaining term of the transfer agent agreement; provided, however, that when calculating the remaining months in the term for such purposes, such term is deemed to be a 12 month period starting from the date of the most recent annual anniversary date.
Property Management Agreement
Related Party Transaction [Line Items]
Number of self storage professionals acquired | Employee				350
Percentage of fee of former external property managers				6.00%
Construction management fee				5.00%
Cost of construction or capital improvement work				$ 10,000
One time fee for former external property managers				$ 3,750
Property management fee, percent fee of gross revenues				6.00%
Property Management Agreement | SST IV Property Manager
Related Party Transaction [Line Items]
Construction management fee				5.00%
Cost of construction or capital improvement work				$ 10,000
Property Management Agreement | Minimum
Related Party Transaction [Line Items]
Our former external property management fee				3,000
External property monthly management fee				$ 3,000
Former External Property Manager’s Affiliate | Tenant Programs
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture		50.00%		50.00%
Percentage of net economics generated from tenant insurance received under terms of joint venture agreement				50.00%
SST IV Advisor
Related Party Transaction [Line Items]
Gross proceeds from offering, threshold percentage of expenses for reimbursement		15.00%		15.00%
Monthly asset management fee				0.0833%
Monthly asset management fee one twelfth of less than one percentage of average invested assets				one-twelfth of 1%
Operating expenses reimbursement percentage of average investment in assets				2.00%
Operating expenses reimbursement percentage of net income				25.00%
Maximum period for reimbursement of offering cost				60 days
Maximum offering cost rate				3.50%
SST IV Advisor | Class W
Related Party Transaction [Line Items]
Percentage of offering cost without reimbursement				1.15%
Organization and offering costs not reimbursed		$ 30,000		$ 30,000
SSGT II Advisor
Related Party Transaction [Line Items]
Monthly asset management fee				0.1042%
Monthly asset management fee one twelfth of less than one percentage of average invested assets				one-twelfth of 1.25%
Percentage of distribution from operating partnership				10.00%
Annual aggregate distribution percentage				5.00%
Administrative Services Agreement
Related Party Transaction [Line Items]
Administrative service fees				$ 800,000
Reimbursements of administrative service fees				200,000
Administrative services agreement paid to related party as allocation of rent and overhead		$ 50,000		$ 50,000
Agreement term				3 years

Summary of Related Party Costs

Summary of Related Party Costs (Detail) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Related party costs, Incurred		$ 8,716,416	$ 12,927,373
Related party costs, Paid		9,478,223	13,689,440
Related party costs, Payable		1,442,030	2,203,837
Operating expenses (including organizational costs)
Related Party Transaction [Line Items]
Related party costs, Incurred		975,985	2,199,596
Related party costs, Paid		1,185,370	2,336,075
Related party costs, Payable			209,385
Transfer Agent fees
Related Party Transaction [Line Items]
Related party costs, Incurred		324,943	352,300
Related party costs, Paid		374,404	302,839
Related party costs, Payable			49,461
Asset management fees
Related Party Transaction [Line Items]
Related party costs, Incurred		3,622,558	5,445,528
Related party costs, Paid		3,622,558	5,445,528
Property management fees
Related Party Transaction [Line Items]
Related party costs, Incurred		2,983,111	4,809,106
Related party costs, Paid		2,983,111	4,809,106
Acquisition expenses
Related Party Transaction [Line Items]
Related party costs, Incurred		80,102	72,179
Related party costs, Paid		80,102	72,179
Acquisition costs
Related Party Transaction [Line Items]
Related party costs, Incurred		235,932	48,664
Related party costs, Paid		235,932	48,664
Self Administration Transaction Working Capital True-up
Related Party Transaction [Line Items]
Related party costs, Incurred		493,785
Related party costs, Paid		493,785
Stockholder servicing fee
Related Party Transaction [Line Items]
Related party costs, Paid	[1]	502,961	675,049
Related party costs, Payable	[1]	$ 1,442,030	$ 1,944,991
[1]	th

Summary of Related Party Cost_2

Summary of Related Party Costs (Parenthetical) (Detail) - Class T Common stock	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description	accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Dealer Manager
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description	accrues daily in an amount equal to 1/365th of 1% of the purchase price per share	accrues daily in an amount equal to 1/365th of 1% of the purchase price per share

Related Party Transactions - Su

Related Party Transactions - Summary of Fees and Revenue Related to the Managed REITs (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	$ 1,192,665	$ 1,221,727
Strategic Storage Trust IV Property Management Agreement
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	288,026	296,300
Strategic Storage Growth Trust II Property Management Agreement
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	40,222	40,822
Strategic Storage Trust IV Advisory Agreement
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	490,844	506,470
Strategic Storage Growth Trust II Advisory Agreement
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	117,380	121,942
Strategic Storage Trust IV Tenant Program Revenue
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	120,498	120,498
Strategic Storage Growth Trust II Tenant Program Revenue
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	15,895	15,895
Other Managed REIT Revenue
Related Party Transaction [Line Items]
Managed REIT Platform Revenues	$ 119,800	$ 119,800

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)shares	Sep. 30, 2019USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
Unrecognized compensation expense related to non-vested restricted stock awards	$ 2,500,000	$ 2,500,000
Unrecognized compensation expense, expected weighted average-recognition period		3 years 10 months 24 days
General and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense	$ 161,000	$ 208,000
Employee and Director Long-term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for issuance | shares	5,625,628	5,625,628

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of Non-vested Restricted Stock Grants (Detail) - Restricted Stock	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-Vested Shares, Beginning balance | shares	21,438
Non-Vested Shares, Granted | shares	249,062
Non-Vested Shares, Vested | shares	(7,625)
Non-Vested Shares, Ending balance | shares	262,875
Non-Vested Weighted-Average Grant-Date Fair Value, Beginning balance | $ / shares	$ 10.38
Non-Vested Weighted-Average Grant-Date Fair Value, Granted | $ / shares	9.48
Non-Vested Weighted-Average Grant-Date Fair Value, Vested | $ / shares	10.29
Non-Vested Shares, Ending balance | $ / shares	$ 9.53

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jan. 09, 2017	Nov. 30, 2016	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Dec. 31, 2018	Jun. 26, 2019
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value						$ 4,046,381	$ 4,049,444	$ 3,963,766	$ 4,039,881	$ 4,031,446	$ 3,971,349
Redemptions of common stock, value						200	211	141	130	122	72
Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Amendment, suspension or termination period for distribution reinvestment Plan												10 days
Sales commissions, dealer manager fee, or stockholder servicing fee payable						0						$ 0
Distribution Reinvestment Plan | Maximum
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value		$ 100,900,000
Share Redemption Program
Commitments And Contingencies [Line Items]
Amendment, suspension or termination period of share												30 days
Maximum weighted-average number of shares outstanding percentage												5.00%
Redemptions of common stock (in shares)												450,000	900,000
Redemptions of common stock, value			$ 400,000		$ 1,300,000							$ 4,400,000	$ 8,300,000
Share Redemption Program | Minimum
Commitments And Contingencies [Line Items]
Shareholders share holding period												1 year
Operating Partnership Redemption Rights
Commitments And Contingencies [Line Items]
Number of shares issuable upon conversion of partnership units												1
Requisite minimum outstanding period for conversion eligibility												1 year
Class A and Class T Common Stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Estimated value per share under distribution reinvestment plan														$ 10.66
Class A Common stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Shares issued pursuant to distribution reinvestment plan	1,100,000											3,700,000
Class T Common stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Shares issued pursuant to distribution reinvestment plan	100,000											600,000
Redeemable Common Stock
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value						0	0	0	0	0	0
Redemptions of common stock, value						$ 349,700	$ 2,052,078	$ 2,044,001	$ 4,639,876	$ 1,212,332	$ 1,126,591
Redeemable Common Stock | Share Redemption Program
Commitments And Contingencies [Line Items]
Redemptions of common stock, value				$ 4,000,000									$ 7,000,000

Stock for Redemptions Based on

Stock for Redemptions Based on Number of Years Stock Held (Detail)	9 Months Ended
	Sep. 30, 2019
Less than 1
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	0.00%
1 or more but less than 3
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	90.00%
3 or more but less than 4
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	95.00%
4 or more
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	100.00%

Declaration of Distributions -

Declaration of Distributions - Additional Information (Detail) - $ / shares	Sep. 30, 2019	Sep. 20, 2019
Class A Common stock
Dividend Declared [Line Items]
Common stock per share outstanding per day declared		$ 0.001644
Cash distribution record date start	Oct. 1, 2019
Cash distribution record date end	Dec. 31, 2019
Class T Common stock
Dividend Declared [Line Items]
Common stock per share outstanding per day declared		0.001644
Cash distribution record date start	Oct. 1, 2019
Cash distribution record date end	Dec. 31, 2019
Common stock dividends payable per share per day		$ 0.0014

Selected Quarterly Data - Summa

Selected Quarterly Data - Summary of Quarterly Financial Information (Detail) - USD ($)	3 Months Ended							9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Quarterly Financial Information [Line Items]
Total revenues	$ 29,588,014	$ 25,980,517	$ 23,883,325	$ 20,187,215	$ 20,313,069
Total operating expenses	27,773,486	25,211,611	21,934,203	15,808,549	15,836,436			$ 74,919,300	$ 48,452,265
Operating income	1,814,528	768,906	1,949,122	4,378,666	4,476,633			4,532,556	11,772,777
Net loss	(9,541,579)	(2,283,972)	(8,948,317)	(1,159,075)	(457,278)			(20,773,868)	(2,561,655)
Net loss attributable to common stockholders	$ (8,214,826)	$ (2,212,445)	$ (8,891,558)	$ (1,158,694)	$ (451,424)	$ (1,427,056)	$ (661,203)	$ (19,318,829)	$ (2,539,683)
Class A Common stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.14)	$ (0.04)	$ (0.15)	$ (0.02)	$ (0.01)			$ (0.33)	$ (0.04)
Class T Common stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.14)	$ (0.04)	$ (0.15)	$ (0.02)	$ (0.01)			$ (0.33)	$ (0.04)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Nov. 12, 2019USD ($)shares	Oct. 29, 2019USD ($)Day$ / sharesshares	Oct. 18, 2019USD ($)	Oct. 17, 2019USD ($)	Oct. 01, 2019USD ($)	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)	Jan. 25, 2019CAD ($)	Dec. 31, 2018shares	Mar. 28, 2018CAD ($)
Subsequent Event [Line Items]
Repayments of debt						$ 141,088,724	$ 2,200,000
Preferred Stock, shares authorized | shares						200,000,000			200,000,000
Derivative, notional amount						$ 161,200,000		$ 90,000,000		$ 101,000,000
Series A Preferred Stock Purchase Agreement
Subsequent Event [Line Items]
Preferred stock payment description						Upon any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of Series A Preferred Stock will be entitled to receive a payment equal to the greater of (i) aggregate purchase price of all outstanding Shares, plus any accrued and unpaid dividends (the “Liquidation Amount”) and (ii) the amount that that would have been payable had the Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to such liquidation.
Preferred stock redemption description						Subject to certain additional redemption rights, as described herein, we have the right to redeem the Series A Preferred Stock for cash at any time following the fifth anniversary of the Initial Closing. The amount of such redemption will be equal to the Liquidation Amount. Upon the listing of common stock on a national securities exchange (the “Listing”), we have the right to redeem any or all outstanding Series A Preferred Stock at an amount equal to the greater of (i) the amount that would have been payable had such Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to the Listing, and then all of such Shares were sold in the Listing, or (ii) the Liquidation Amount, plus a premium amount (the “Premium Amount”) of 10%, 8%, 6%, 4%, or 2% if redeemed prior to the first, second, third, fourth, or fifth anniversary dates of issuance, respectively, or 0% if redeemed thereafter, as set forth in the Articles Supplementary. Upon a change of control event, we have the right to redeem any or all outstanding Series A Preferred Stock at an amount equal to the greater of (i) the amount that would have been payable had the Shares been converted into common stock pursuant to the terms of the Purchase Agreement immediately prior to such change of control or (ii) the Liquidation Amount, plus the Premium Amount, as set forth in the Articles Supplementary. In addition, subject to certain cure provisions, if we fail to maintain our status as a real estate investment trust, the holders of Series A Preferred Stock have the right to require us to repurchase the Series A Preferred Stock at an amount equal to the Liquidation Amount.
Preferred stock, conversion basis						At any time after the earlier to occur of (i) the second anniversary of the Initial Closing or (ii) 180 days after a Listing, the holders of Series A Preferred Stock have the right to convert any or all of the Series A Preferred Stock held by such holders into common stock at a rate per share equal to the quotient obtained by dividing the Liquidation Amount by the conversion price. The conversion price is $10.66, as may be adjusted in connection with stock splits, stock dividends and other similar transactions
Preferred stock, voting rights condition						This foregoing limited voting right shall cease when all past dividend periods have been paid in full. In addition, the affirmative vote of the holders of a majority of the outstanding shares of Series A Preferred Stock is required in certain customary circumstances, as well as other circumstances, such as (i) our real estate portfolio exceeding a leverage ratio of 60% loan-to-value, (ii) entering into certain transactions with our Executive Chairman as of the Commitment Date, or his affiliates, (iii) effecting a merger (or similar) transaction with an entity whose assets are not at least 80% self storage related and (iv) entering into any line of business other than self storage and ancillary businesses, unless such ancillary business represents revenues of less than 10% of our revenues for our last fiscal year
Subsequent Event
Subsequent Event [Line Items]
Repayments of debt					$ 95,400,000
Subsequent Event | Series A Preferred Stock Purchase Agreement
Subsequent Event [Line Items]
Maximum purchase commitment amount		$ 200,000,000
Initial closing amount		150,000,000
Additional purchase commitment amount		$ 50,000,000
Rate of investor fee		0.25%
Preferred stock, dividend rate, percentage		6.25%
Conversion price per share | $ / shares		$ 10.66
Number of days after lifting of preferred stock to common stock | Day		180
Required leverage ratio of our real estate portfolio		60.00%
Required percentage of self storage related assets of merger entity		80.00%
Required ancillary business revenue to total revenue		10.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Fifth To Tenth Anniversary
Subsequent Event [Line Items]
Dividend rate percentage of increase on preferred stock		0.75%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Tenth Anniversary | Maximum
Subsequent Event [Line Items]
Preferred stock, dividend rate, percentage		9.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | After Tenth Anniversary
Subsequent Event [Line Items]
Dividend rate percentage of increase on preferred stock		0.75%
Subsequent Event | Series A Preferred Stock Purchase Agreement | First Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		10.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Second Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		8.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Third Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		6.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Fourth Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		4.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | Fifth Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		2.00%
Subsequent Event | Series A Preferred Stock Purchase Agreement | After Fifth Anniversary
Subsequent Event [Line Items]
Premium amount over liquidation amount on redemption, percent		0.00%
Subsequent Event | Senior Term Loan
Subsequent Event [Line Items]
Repayments of debt					80,900,000
Subsequent Event | Senior Term Loan | Interest Rate Swap | Termination
Subsequent Event [Line Items]
Derivative, notional amount					75,700,000
Settlement payment of interest rate swaps					600,000
Subsequent Event | KeyBank Tenant Program Loan
Subsequent Event [Line Items]
Repayments of debt					14,500,000
Subsequent Event | San Antonio II Property
Subsequent Event [Line Items]
Sales price			$ 16,100,000	$ 16,100,000
Subsequent Event | San Antonio II Property | Secured Loan
Subsequent Event [Line Items]
Repayments of debt				9,900,000	$ 9,900,000
Subsequent Event | San Antonio II Property | Senior Term Loan
Subsequent Event [Line Items]
Repayments of debt				$ 5,400,000
Class A Common stock | Distribution Reinvestment Plan Offering | Subsequent Event
Subsequent Event [Line Items]
Number of common stock issued | shares	3,800,000
Gross proceeds from issuance of common stock	$ 39,400,000
Class T Common stock | Distribution Reinvestment Plan Offering | Subsequent Event
Subsequent Event [Line Items]
Number of common stock issued | shares	600,000
Gross proceeds from issuance of common stock	$ 6,000,000
Series A Preferred Stock | Subsequent Event | Series A Preferred Stock Purchase Agreement
Subsequent Event [Line Items]
Preferred Stock, shares authorized | shares		200,000