Strategic Storage Trust IV Buys 540-Unit Self Storage Facility in Houston

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 540-unit self storage facility in Houston, Texas.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 540-unit self storage facility in Houston, Texas for approximately $7 million.

The facility is comprised of approximately 63,000 net rentable square feet and is situated on nearly 3.7 acres of land. Constructed in 2007, the facility features interior climate-controlled units, drive thru/drive-up units and four RV parking spaces. The facility was approximately 91 percent leased at the time of acquisition.

“This facility is located in the fast-growing NW Houston sub-market and is surrounded by established residential communities,” said Wayne Johnson, chief investment officer.

Last month, the REIT purchased a self storage portfolio comprised of six properties located primarily in the Greater Houston area and College Station, Texas for approximately $51.5 million, plus closing and acquisition costs.

Strategic Storage Trust IV invests in stabilized and growth self storage properties and owns 14 self storage properties and one vacant lot of land for development. The REIT’s offering was declared effective by the SEC in March 2017 and has raised $94.7 million in investor equity, as of October 12, 2018.

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