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Strategic Storage Trust IV Buys 600-Unit Self Storage Facility in Greater Las Vegas

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased an approximately 600-unit self storage facility in North Las Vegas.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased an approximately 600-unit self storage facility in North Las Vegas. The purchase price was approximately $12.8 million, plus closing and acquisition costs.

“This self storage facility is part of a busy neighborhood retail center with access and signage along Aliante Parkway and Simmons Street, two primary corridors with high traffic counts in North Las Vegas,” said Wayne Johnson, chief investment officer. “Through its affiliated property management arm, Strategic Storage Trust IV will bring institutional expertise to a locally managed outlet where renters will benefit from an in-house call center and the full resources of a nationwide professional self storage operator.”

The 2.2-acre property is comprised of approximately 66,400 rentable square feet and includes 40 RV spaces. The facility was approximately 92 percent leased at the time of acquisition, and includes computerized gate and lobby access, elevators, fencing and lighting, individually alarmed units, tenant insurance, video surveillance, moving carts and air-cooled units.

Strategic Storage Trust IV primarily invests in self storage properties located in the United States and Canada and currently owns six properties. The offering was declared effective by the SEC in March 2017 and has raised $52 million in investor equity as of the first quarter of 2018, according to Summit Investment Research.

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