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Strategic Storage Trust IV Buys Four-Property Self Storage Portfolio for $64.5 Million

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Self Storage REIT Inc., has purchased a 3,500-unit portfolio consisting of four newly constructed self-storage facilities located in North Carolina, Virginia, and Florida.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Self Storage REIT Inc., has purchased a 3,500-unit portfolio consisting of four newly constructed self-storage facilities located in Charlotte, North Carolina; Charlottesville, Virginia; and Ocoee, Florida for nearly $64.5 million.

“This portfolio marks Strategic Storage Trust IV’s expansion into the North Carolina and Virginia markets. The properties are located in suburban growth paths adjacent to community retail centers and with the Charlottesville facility, located very close to the urban core and the University of Virginia campus,” said Wayne Johnson, chief investment officer.

Constructed on approximately 15 acres of land, the portfolio comprises approximately 326,000 square feet of space and includes 3,500 units. Amenities include drive-up access, interior climate-controlled units, electric gate access, fencing and lighting, video surveillance, and wine storage, among others. The North Carolina and Virginia facilities are located within close proximity to state universities, while the Florida property is the REIT’s first property located in the Orlando metroplex.

Mark Owen, senior vice president of Eastdil Secured, served as the broker on the transaction.

Strategic Storage Trust IV invests in stabilized and growth self-storage properties and owns 21 properties comprising approximately 15,000 self-storage units, as well as four parcels of land under development. The REIT’s offering was declared effective by the SEC in March 2017 and raised $201.7 million in investor equity, as of September 30, 2019.

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