Which self-managed nontraded REIT recently sold $150 million in convertible preferred stock to a listed REIT in the same industry sector?
Answer: SmartStop Self Storage REIT Inc. entered into a preferred stock purchase agreement with a subsidiary of Extra Space Storage, Inc. (NYSE: EXR) in which EXR committed to purchase up to $200 million in a new Series A Convertible Preferred Stock. On October 29, 2019, EXR purchased $150 million of the Series A Preferred.
