Strategic Storage Trust II, Inc. (SST II) -- which is sponsored by SmartStop Asset Management, LLC -- recently purchased 11 self storage facilities located in North Carolina totaling approximately 4,850 units, 76 buildings and approximately 553,500 rentable square feet.
"Collectively, these 11 properties have averaged an overall occupancy of 95% during 2016 and require little capital expenditure," said H. Michael Schwartz, chairman and CEO of SST II. "The dynamics of this portfolio are a great balance to our existing self storage facilities located throughout the U.S. and Canada."
All 11 self storage facilities are located in the Asheville Metropolitan Statistical Area (MSA) and provide easy access with grade level drive-up units, climate controlled units and RV units.
"Asheville will provide a captive market for us. Many of the properties have expansion land that we plan on getting underway immediately," said Wayne Johnson, CIO for SST II.
The details of the 11 self storage facilities in this portfolio are as follows:
About Strategic Storage Trust II, Inc. (SST II)
Strategic Storage Trust II, Inc. (SST II) is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 47,120 self storage units and approximately 5.4 million rentable square feet of storage space.
About SmartStop Asset Management, LLC
SmartStop Asset Management, LLC is a diversified real estate company with a managed portfolio that currently includes approximately 64,205 self storage units and approximately 7.3 million rentable square feet. The company is the asset manager for 100 self storage facilities located throughout the United States and Toronto, Canada. SmartStop Asset Management is the sponsor of both SST II and Strategic Storage Growth Trust, Inc. (SSGT), a public non-traded REIT focusing on opportunistic self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. Additional information is available at www.smartstopassetmanagement.com