Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT Inc., has purchased a newly constructed 970-unit Class A self-storage facility located in the Miami suburb of Homestead, Florida. The purchase price was not disclosed.
“We expect the facility will bring value to our growing portfolio and provide significant demand given its accessibility, desirable amenities and high-quality construction,” said Wayne Johnson, chief investment officer. “In these challenging times we will continue to actively seek acquisitions and recapitalization opportunities throughout the U.S. and Canada.”
The four-building facility totals approximately 91,400 net rentable square feet and is equipped with approximately 30 RV spaces. Completed in 2019 on roughly 3.2 acres of land, amenities at the property include climate-controlled units; computerized keypad access; drive-up access; ground-level units; video surveillance; and RV, auto and boat storage.
Strategic Storage Growth Trust II invests in opportunistic self-storage properties.