SmartStop Asset Management Completes $59.2 Million DST Offering of Two Student Housing Communities in Michigan and South Carolina

LADERA RANCH, Calif., Oct. 15, 2018 /PRNewswire/ -- Strategic 1031 Properties, LLC, an affiliate of SmartStop Asset Management (SmartStop), announced today that it successfully completed its equity raise for the Power 5 Conference Student Housing I DST. The offering raised a total of $59.2 million of equity with approximately 170 investors.

Power 5 Conference Student Housing I, DST is comprised of two student housing properties:

• YOUnion @ Columbia (formerly known as Aspyre at Assembly Station), a 400-unit, 760-bed student housing community located near the University of South Carolina, and  
• YOUnion @ Ann Arbor (formerly known as 411 Lofts), a 97-unit, 345-bed student housing community located near the University of Michigan in Ann Arbor.

"Purpose-built, pedestrian-to-campus student housing at Tier I Universities has proven to be an attractive investment class for 1031 exchange investors due to its recession-resistant characteristics, consistent cash flows, and rising demand driven by steady enrollment increases at major universities with outdated on-campus dormitories," said John Strockis, chief investment officer. "SmartStop is pleased to complete this DST offering of two Class A student housing communities. We expect this investment to benefit from the YOUnion Student Living® rebranding now underway."

Located at 1000 Whaley St., YOUnion @ Columbia is comprised of fully furnished one-, two-, and three-bedroom units ranging in size from 560 square feet to 1,295 square feet. Each unit features a full-size washer and dryer, modern appliances, and a private balcony/patio. Community amenities include onsite management and maintenance staff, 24-hour fitness center, connected parking garage, card-access entries, high-speed Internet and Wi-Fi, five courtyards, a business center with computer lab, pools, a sauna and various outdoor recreational areas. The property is within walking distance of the University of South Carolina, which has more than 350 degree programs and reports an enrollment of more than 34,000 undergraduate and graduate students at its main campus.

A 10-story building, YOUnion @ Ann Arbor is comprised of fully furnished one-, two-, three- and four-bedroom units ranging in size from 400 square feet to 1,135 square feet. Community amenities include security-controlled access to units and bedrooms; underground parking; a 24-hour fitness facility; 10th floor resident sky lounge; computer center with iMacs, PCs and printers; study rooms; free common area washers and dryers; high-speed internet and Wi-Fi; onsite restaurants and a tanning room. The property is located three blocks from the University of Michigan, which reports more than 275 degree programs, 583,000 living alumni worldwide and an enrollment size of approximately 46,000 students as of June 2018.

About Strategic 1031 Properties, LLC
Strategic 1031 Properties, LLC is a Delaware limited liability company that is owned by SmartStop Asset Management, LLC.

About SmartStop Asset Management, LLC (SmartStop)
SmartStop is a diversified real estate company focused on self storage, student housing and senior housing assets. The company has approximately $1.6 billion of real estate assets under management, including 118 self storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 75,000 units and 8.6 million rentable square feet. SmartStop's real estate portfolio also includes five student housing communities with approximately 2,800 beds and 1.1 million square feet of space, as well as four senior housing communities with approximately 650 beds and 500,000 rentable square feet of space. SmartStop is the sponsor of four public non-traded REITs: Strategic Storage Trust IV, Inc., Strategic Storage Trust II, Inc., and Strategic Storage Growth Trust, Inc., all focused on self storage assets, and Strategic Student & Senior Housing Trust, Inc., focused on student and senior housing assets. SmartStop is also a national sponsor of Section 1031 exchange offerings using the Delaware statutory trust structure. Additional information regarding SmartStop is available at www.SAM.com and more information regarding SmartStop® Self Storage in the United States and Canada is available at www.smartstopselfstorage.com.

SOURCE Strategic 1031 Properties, LLC