SmartStop Asset Management LLC, a privately held alternative asset management and real estate investment firm, has changed its name to Strategic Asset Management I LLC, effective immediately.
“The new name reflects our continued commitment to our student and senior housing portfolio, while also expanding our platform to include conventional multifamily and industrial properties,” said John Strockis, president. “Our investors want tax-advantaged real estate investments, and we’re excited to expand our portfolio while offering both cash flow and capital appreciation.”
The firm plans to relocate its corporate headquarters to Irvine, California during the second half of 2022 to better accommodate its staff, which includes asset management and acquisitions professionals, as well as its in-house transfer agent, Strategic Transfer Agent Services.
Strategic Asset Management sponsors Strategic Student & Senior Housing Trust Inc., a publicly registered, non-traded real estate investment trust, that currently owns and manages a portfolio valued in excess of $225 million. The company has sponsored multiple other investment vehicles and recently completed a portfolio sale of four student housing properties to an institutional investor for more than $275 million.
The company previously served as the external manager of SmartStop Self Storage REIT, a now self-managed non-traded REIT that plans to list its common stock on the New York Stock Exchange under the ticker symbol “SMST.”
Strategic Asset Management I is a diversified real estate company focused on commercial real estate, with an emphasis in student, senior and conventional multifamily housing. Since 2004, the firm and its affiliates have completed approximately $6 billion in real estate transactions.