The Parent Trust owns three Operating Trusts, each holding a stabilized SmartStop-branded self-storage facility in Orlando, FL, Corinth, TX or Pasadena, TX (2,281 storage units, 98 vehicle spaces, about 300,968 rentable sq ft), acquired free and clear on 2/20/2025 for $54,100,000. Each Operating Trust leases its Property to an affiliated Master Tenant under one Master Lease, which rents units month to month through an affiliated Property Manager. Objectives are monthly distributions from net cash flow, preserving long-term value and an eventual sale, which may be to SSGT III's operating partnership for cash or OP Units.