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Self Storage REIT Closes on Portion of $128 Million Portfolio Deal

Public, non-traded self storage REIT Strategic Storage Trust II, Inc. (SSTI II) recently closed on seven self storage facilities across four states. The purchases represent the first phase of a 26 asset portfolio acquisition announced in August 2014.

Acquired for $25.93 million, the seven properties consist of 3,280 units and 340,900 net rentable square feet located in California, Colorado, Illinois, and Maryland. As of September 30, 2014, the properties were 87% occupied.

For details see below:

The aggregate cost of the 26 property portfolio is $128.2 million, plus closing costs and acquisition fees.

SSTI II was incepted in January 2014 and is offered through Select Capital Corporation.