Strategic Storage Trust II Buys California Self Storage Facility for $8.2 Million
Strategic Storage Trust II Inc., a publicly registered non-traded real estate investment trust, purchased a 530-unit self storage facility in the Sacramento-Roseville Metropolitan Statistical Area. The purchase price was approximately $8.2 million, plus closing costs and acquisition fees.
“We are excited to acquire our first self storage facility in Sacramento,” said H. Michael Schwartz, chairman and chief executive officer of SST II.
Built in 2006, the five-building facility totals approximately 61,200 rentable square feet and sits on 2.8 acres of land. The property, which is approximately 93 percent occupied, offers drive-up, RV spaces and climate controlled units.
Last week, The DI Wire reported that Strategic Storage Trust purchased a 530-unit self storage facility in Florida for $9.8 million.
Strategic Storage Trust II focuses on stabilized self storage properties and owns a portfolio of approximately 28,200 self storage units totaling 3.1 million square feet. The REIT went effective in January 2014 and has raised $379.6 million since inception, according to the latest issue of the Stanger Market Pulse.
