Strategic Storage Trust IV Inc. (SST IV), a public, non-traded, real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, surpassed $10 million in aggregate investment subscriptions by June 30. Meeting the threshold requirement allows the REIT to now accept investments from Washington state residents, according to a press release.

SST IV intends to qualify as a REIT for federal income-tax purposes for the taxable year ending Dec. 31. It’s offering up to $1 billion in shares of common stock in its primary offering. Shares are under three classifications: class-A for $25 per share up to a total of $450 million issued, class-T for $24.21 per share up to a total of $450 million, and class-W for $22.75 per share up to a total of $100 million.

Any investor can purchase class-A or class-T shares; however, class-W shares are available only to investors purchasing through certain fee-based programs or registered investment advisers, the release stated.

SST IV is also offering up to $95 million in shares of common stock pursuant to a distribution reinvestment plan. Under the plan, class-A shares are available for $23.75 per share, class-T for $23 and class-W for $22.75.

Based in Maryland, SST IV intends to invest in in a portfolio of self-storage properties in Canada and the United States. SmartStop is the asset manager for 108 facilities in Toronto and the U.S. Its portfolio comprises approximately 7.9 million rentable square feet.