MIAMI, March 24, 2020 /PRNewswire/ -- Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today its acquisition of a recently completed 970-unit self storage facility in Homestead, a suburb of Miami, Florida.
"This is a newly constructed Class A facility strategically located along U.S. Route 1, in the rapidly growing suburban market of Homestead, Florida," said Wayne Johnson, chief investment officer. "We expect the facility will bring value to our growing portfolio and provide significant demand given its accessibility, desirable amenities and high-quality construction. In these challenging times we will continue to actively seek acquisitions and recapitalization opportunities throughout the U.S. and Canada."
Located at 1235 Northeast 12th Ave., the four-building facility is situated on approximately 3.2 acres of land. The property has approximately 91,400 net rentable square feet and is equipped with approximately 30 RV spaces. Completed in 2019, amenities at 1235 Northeast 12th Ave. include: climate-controlled units; computerized keypad access; drive-up access; ground-level units; video surveillance; and RV, auto and boat storage.
More details of the facility can be found at:
About Strategic Storage Growth Trust II, Inc. ("SSGT II"):
SSGT II is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSGT II focuses on opportunistic self storage properties.
About SmartStop Self Storage REIT, Inc. ("SmartStop")
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 380 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. It is the tenth largest self storage company in the U.S., with approximately $1.6 billion of real estate assets under management, including 112 properties in 17 states and Toronto, Canada that are directly owned and managed by SmartStop, as well as a growing portfolio of 30 operating properties in 10 states and Toronto, Canada where SmartStop serves as the property manager for properties owned by its sponsored programs. In total, this portfolio comprises approximately 94,000 units and 10.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
SOURCE Strategic Storage Growth Trust II, Inc.