Strategic Storage Trust IV Buys Six-Property Self Storage Portfolio

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a self storage portfolio comprised of six properties located primarily in the Greater Houston area and College Station.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a self storage portfolio comprised of six properties located primarily in the Greater Houston area and College Station, Texas. The purchase price was approximately $51.5 million, plus closing and acquisition costs.

“The properties are very well located in high barrier-to-entry markets around the Houston area,” said Wayne Johnson, chief investment officer. “These facilities have maintained high occupancy and will be a strong addition to Strategic Storage Trust IV’s rapidly growing portfolio.”

Constructed between 2002 and 2007 on nearly 30 acres of land, the 483,000-square-foot portfolio includes approximately 3,400 units and 200 recreational vehicle spaces. The facilities offer drive-up units, interior climate-controlled and non-climate-controlled units, enclosed RV parking, covered RV parking and open RV parking.

In other REIT news, earlier this month, Strategic Storage Trust IV purchased two acres of land in Oshawa, Ontario, Canada to develop a 900-unit, approximately 119,000-square-foot self storage facility. The project is expected to break ground in the fourth quarter of 2018.

Strategic Storage Trust IV primarily invests in self storage properties located in the United States and Canada and currently owns 13 properties, and one vacant lot for development. The REIT’s offering was declared effective by the SEC in March 2017 and has raised $72.2 million in investor equity as of June 13, 2018.

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