Skip to content
The DI Wire
Click Here to Subscribe to Our Free Daily News Updates

Strategic Storage Growth Trust II Buys Sacramento Self-Storage Facility

Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by SmartStop Asset Management, has purchased a 1,029-unit self storage facility located in Sacramento, California for approximately $15.6 million purchase.

Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by SmartStop Asset Management, has purchased a 1,029-unit self-storage facility located in Sacramento, California for approximately $15.6 million purchase. The acquisition is the first completed by the REIT.

“This is a newly constructed self-storage facility ideally located along US Route 50 in the midst of the thriving Sacramento Valley between California State University, Sacramento and Sacramento Mather Airport,” said H. Michael Schwartz, chief executive officer of Strategic Storage Growth Trust II Inc. “We expect to achieve significant value with this facility, which should command significant demand given its exceptional location, accessibility and modern design.”

Constructed in September 2018 and situated on nearly 5.7 acres of land, the property is comprised of approximately 94,000 square feet and one two-story building. Property amenities include 24-hour video surveillance, climate-controlled units, and security gates.

Strategic Storage Growth Trust II focuses on opportunistic self-storage properties.

SmartStop, a real estate company focused on self-storage, student housing and senior housing assets, has approximately $1.8 billion of real estate assets under management, including 128 self-storage facilities located throughout the United States and Toronto, Canada. The company’s real estate portfolio also includes five student housing communities and four senior housing communities.

SmartStop is the sponsor of three public non-traded REITs: Strategic Storage Trust IV Inc., and Strategic Storage Trust II Inc., and Strategic Student & Senior Housing Trust Inc. SmartStop also sponsors Section 1031 exchange offerings using the Delaware statutory trust structure.

For more SmartStop news, please visit their directory page here.