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Strategic Storage Growth Trust Buys 730-Unit Self Storage Facility in the Dallas-Fort Worth Metroplex

Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a 730-unit self storage facility in the Dallas-Fort Worth Metroplex.

Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a 730-unit self storage facility in the Dallas-Fort Worth Metroplex. According to a filing with the Securities and Exchange Commission, the purchase price for property was approximately $10.6 million, plus closing costs and acquisition fees.

“This property is located directly in the population growth path of McKinney and Far North Dallas,” said Wayne Johnson, chief investment officer. “There are numerous mixed-use and planned developments surrounding the facility, bringing thousands of new single-family homes and major retailers to the area.”

Located at 2280 N. Custer Road in McKinney, Texas, the property is comprised of 10 single-story buildings with approximately 230 drive-up units and 500 first-floor units that are climate controlled. Constructed in 2015 on 4.1 acres of land, the approximately 95,000-square-foot property features security cameras, gated entry and electronic-access buildings.

Strategic Storage Growth Trust focuses on the acquisition, development, redevelopment, and lease-up of self storage properties. The company’s portfolio currently consists of 26 operating self storage facilities and two development properties. The offering launched in January 2015 and raised more than $279 million in investor equity before closing in March 2017.

For more Strategic Storage Growth Trust news, please visit their directory page here.