Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today its acquisition of a 460-unit self storage facility located at 3167 Van Buren Blvd. in Riverside, California.
"We believe the property will be an exceptional addition to the rapidly growing portfolio of Strategic Storage Trust IV," said Wayne Johnson, chief investment officer. "Located just two blocks south of the 91 Freeway, this asset is on a major artery serving the City of Riverside and should benefit operationally by being in proximity to other SmartStop managed facilities in the area."
The facility has approximately 55,000 rentable square feet and is situated on nearly 2.3 acres of land.
About Strategic Storage Trust IV, Inc. (SST IV)
SST IV is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017. SST IV focuses on the acquisition of stabilized and growth self storage properties. SST IV owns three properties comprising approximately 1,540 self storage units and approximately 182,000 net rentable square feet of storage space.