SACRAMENTO, Calif., March 5, 2019 /PRNewswire/ -- Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by SmartStop Asset Management, LLC ("SmartStop"), announced today its acquisition of a 1,029-unit self storage facility located in Sacramento, California. This approximately $15.6 million purchase is the first acquisition completed by SSGT II.
"This is a newly constructed self storage facility ideally located along US Route 50 in the midst of the thriving Sacramento Valley between California State University, Sacramento and Sacramento Mather Airport," said H. Michael Schwartz, chief executive officer of Strategic Storage Growth Trust II, Inc. "We expect to achieve significant value with this facility, which should command significant demand given its exceptional location, accessibility and modern design."
Located at 9950 Mills Station Road and situated on 5.68 acres of land, the asset is comprised of approximately 94,000 square feet and one two-story building. The facility was constructed in September 2018. Property amenities include 24-hour video surveillance, climate-controlled units, security gates, and bright lighting.
About Strategic Storage Growth Trust II, Inc. ("SSGT II"):
Strategic Storage Growth Trust II, Inc. is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. Strategic Storage Growth Trust II, Inc. focuses on opportunistic self storage properties.
About SmartStop Asset Management, LLC
SmartStop is a diversified real estate company focused on self storage, student housing and senior housing assets. The company has approximately $1.8 billion of real estate assets under management, including 128 self storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 80,000 units and 9.5 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 three public non-traded REITs: Strategic Storage Trust IV, Inc., and Strategic Storage Trust II, Inc., both 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. SmartStop has a track record of full cycle REIT liquidity events, including the all cash merger of Strategic Storage Trust, Inc. with Extra Space Storage in October 2015 for $13.75 per share and the all cash merger of Strategic Storage Growth Trust, Inc. with Strategic Storage Trust II, Inc. in January 2019 for $12.00 per share.