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Strategic Storage Growth Trust Expands Self-Storage Portfolio with Acquisition of San Diego Facility
Wednesday 14 March 2018

14 March 2018 - California, US-based real estate investment trust Strategic Storage Growth Trust, Inc. has acquired a 900-unit San Diego, US-based self storage facility to expand portfolio of self-storage facilities, the company said.
Terms of the transaction were not disclosed.
The 86,000-square-foot facility sits on 1.5 acres of land and features a three-story building bisected by a covered loading area and has drive-up units lining its exterior.
Strategic Storage Growth Trust, Inc. is sponsored by SmartStop Asset Management, LLC. SSGT focusses on the acquisition, development, redevelopment and lease-up of self storage properties.
The SSGT portfolio currently consists of 24 operating self storage facilities located in 10 states comprising approximately 16,000 self storage units and approximately 1.8 m net rentable square feet of storage space.
Additionally, SSGT owns two development properties in the Greater Toronto Area, which will be comprised of approximately 1,700 self storage units and 170,000 net rentable square feet of storage space once completed, and one development property in North Carolina, which will be comprised of approximately 650 self storage units and 72,000 net rentable square feet of storage space once completed.
SmartStop Asset Management, LLC is a focussed on self storage assets, along with student and senior housing.
Details
Date Published: 14/03/2018
Target: 900-unit San Diego, US-based self storage facility
Country: USA
Sector: Construction/Real Estate
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: Strategic Storage Growth Trust
Comment:
Terms of the deal were not disclosed

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