Strategic Storage Trust VI posted a Q2 net loss of $12.94 million, more than doubled from a year earlier.
Revenue rose 4.9% to $8.04 million, while operating loss widened to $2.1 million.
Same-store revenue increased 1.5%, while same-store NOI slipped 1.5% as average physical occupancy fell 2.4 percentage points to 90.3%.
Annualized rent per occupied square foot climbed 2.7% to $17.73.
CEO H. Michael Schwartz cited operational stability, pointing to a planned merger with Strategic Storage Growth Trust III targeting more than $1 billion in total assets.
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