Strategic Storage Growth Trust, Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC., announced today its purchase of an 870-unit self storage facility in the Miami suburb of Pembroke Pines, Florida. The facility was completed in early 2018.
Located at the intersection of Pines Boulevard and Southwest 186th Avenue, the 3-acre property includes a two-story building and a three-story building. The facility totals 84,000 square feet of 100 percent climate-controlled space.
"This acquisition meets the growth-oriented investment strategy of Strategic Storage Growth Trust," said Wayne Johnson, chief investment officer. "Newly constructed, we acquired the facility from the developer following the issuance of its certificate of occupancy and expect the property to add significant value to our portfolio as it's leased up in an attractive self storage market."