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Strategic Storage Trust IV Acquires 580-Unit Self Storage Facility in Las Vegas

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust, has purchased an approximately 580-unit self storage facility located in Las Vegas, Nevada.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust, has purchased an approximately 580-unit self storage facility located in Las Vegas, Nevada. According to a filing with the Securities and Exchange Commission, the purchase price was approximately $9.2 million, plus closing and acquisition costs.

“The property is located on Las Vegas Blvd. adjacent to Interstates 15 and 215, with solid population density and a high traffic count,” said Wayne Johnson, chief investment officer. “This acquisition aligns well with our investment criteria and we believe the property will benefit operationally by being in close proximity to other SmartStop managed facilities in the area.”

The facility has approximately 55,000 rentable square feet and features 24-hour onsite management.

In related news, the REIT recently purchased a 460-unit self storage facility located in Riverside, California for approximately $6.9 million, as reported by The DI Wire.

Strategic Storage Trust IV is sponsored by SmartStop Asset Management and primarily invests in self storage assets consisting of both income-producing and growth properties located in the United States and Canada. SST IV owns four properties with approximately 2,120 self storage units.

For more Strategic Storage Trust IV news, please visit their directory page here.