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Strategic Storage Trust IV Acquires Houston Self-Storage Facility to Expand Portfolio
Thursday 08 November 2018

8 November 2018 - California, US-based real estate investment trust Strategic Storage Trust IV, Inc. (SST IV), sponsored by SmartStop Asset Management, LLC, has acquired a 540-unit Houston, Texas, US-based self-storage facility, the company said.
Terms of the transaction were not disclosed.
The acquisition, which comes on the heels of SST IV's October 2018 acquisition of a six-facility self-storage portfolio in the Houston and College Station, Texas, will continue to expand the REIT's footprint in the Houston area.
SST IV focusses on the acquisition of stabilised and growth self-storage properties. SST IV owns 14 self-storage properties comprising approximately 8,400 self-storage units and approximately 1.038m net rentable square feet of storage space, as well as one vacant lot of land for development.
SmartStop Asset Management, LLC is a diversified real estate company focussed on self -storage, student housing and senior housing assets.
The company has approximately USD 1.7bn of real estate assets under management, including 126 self-storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 80,000 units and 9.3m rentable square feet.
Date Published: 08/11/2018
Target: 540-unit Houston, Texas, US-based self-storage facility
Country: USA
Sector: Construction/Real Estate
Type: LBO
Status: Closed
Buyer: Strategic Storage Trust IV, Inc
Terms of the deal were not disclosed