Strategic Storage Trust IV, Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, announced today its purchase of a 504-unit self storage facility in the Port St. Lucie suburb of Jensen Beach, Florida. The acquisition is the first for the recently launched REIT.
"This property is an excellent initial acquisition for Strategic Storage Trust IV, as it suits our selective acquisition criteria to a tee," said H. Michael Schwartz, chairman and chief executive officer. "The self storage facility is 99 percent leased, equipped with interior climate control, is well-located near State Route 1, and provides easy access to the St. Lucie River and Jensen Beach to Jupiter Inlet Aquatic Preserve."
The approximately 48,000-square-foot facility is located on nearly 4 acres of land at 1105 Northeast Industrial Blvd. and is equipped with 96 RV and boat spaces.
About Strategic Storage Trust IV, Inc.
Strategic Storage Trust IV, Inc., is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. Strategic Storage Trust IV focuses on the acquisition of stabilized and growth self storage properties.
About SmartStop Asset Management, LLC
SmartStop is a diversified real estate company focused on self storage assets, along with student and senior housing. The company has a managed portfolio that currently includes more than 66,000 self storage units and approximately 7.7 million rentable square feet and approximately $1 billion of real estate assets under management. The company is the asset manager for 105 self storage facilities located throughout the United States and Toronto, Canada and one student housing facility. SmartStop is the sponsor of Strategic Storage Trust IV, Strategic Storage Growth Trust, Inc., and Strategic Storage Trust II, Inc., all public non-traded REITs focusing on 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 SmartStopAssetManagement.com.