Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by an indirect subsidiary of SmartStop Self Storage REIT, has purchased a newly constructed approximately 770-unit self-storage facility in Milwaukee, Wisconsin. Financial terms were not disclosed.
“We expect this self-storage facility to satisfy significant demand with its exceptional location on Capitol Drive, a major thoroughfare in the area, and its new high-quality construction,” said Wayne Johnson, chief investment officer. “We have acquired the property in a certificate of occupancy transaction, which aligns well with our strategy to focus on opportunistic self-storage properties, and we believe it is well-suited for our portfolio.”
The facility is situated on nearly four acres of land and is comprised of approximately 83,000 rentable square feet, and property amenities include drive-up units, climate-controlled units, a covered loading area, and gate access.
Strategic Storage Growth Trust II focuses on opportunistic self-storage properties.
SmartStop Self Storage REIT is a self-managed REIT, and through its indirect subsidiary SmartStop REIT Advisors, sponsors other self-storage programs including Strategic Storage Trust IV, a public non-traded REIT, and other private programs. SmartStop has approximately $1.4 billion of real estate assets under management.