Strategic Storage Growth Trust Reports Strong Growth Across Multiple Metrics in First Quarter 2018

Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust, announced its operating results for the first quarter of 2018.

“We continue to experience solid growth in SSGT’s portfolio, both in our same-store results and in our more recent lease-up acquisitions,” said H. Michael Schwartz, chairman and chief executive officer of SSGT. “Accordingly, we are pleased to announce an increase in distributions to SSGT shareholders, beginning in the 3rd quarter of 2018, of an additional $0.10 per share on an annualized basis, which brings the current distributions of $0.40 per share to $0.50 per share.”

First Quarter 2018 Highlights

• Increased total revenue by approximately $1.7 million, or 61 percent, when compared to the same period in 2017. Total revenues were approximately $4.4 million for the first quarter of 2018, compared to $2.7 million for the same period last year.

• Increased same-store revenues and net operating income by 10.1 percent and 20.4 percent, respectively, compared to the same period in 2017. Same-store revenues were $2.7 million in the first quarter of 2017, compared to nearly $2.5 million for the same period last year. Same-store net operating income was $1.7 million in the first quarter of 2018 compared to $1.4 million for the same period last year.

• Increased same-store annualized rent per occupied square foot by approximately 14.3 percent, when compared to the same period in 2017 from $11.95 to $13.66.

• Increased modified funds from operations by approximately $0.6 million, or 129 percent, when compared to the same period in 2017. MFFO was approximately $1.1 million in the first quarter of 2018 compared to $488,000 for the first quarter of 2017. Funds from operations for the first quarter were $914,000 compared to ($223,000) for the first quarter of 2017.

• Net loss attributable to common stockholders was approximately ($623,000) in the first quarter of 2018 compared to ($1.1 million) for the same period last year.

Capital Transactions

In January 2018, SSGT repaid the mortgage on its property in Phoenix, Arizona of approximately $5.1 million in full.

Updated NAV

On April 19, 2018, the board approved an estimated value per share of its common stock of $11.58 for its Class A Shares and Class T Shares, as of December 31, 2017.

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.

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