LADERA RANCH, Calif .–(BUSINESS WIRE)–Dec 30, 2021–
Strategic Storage Trust VI, Inc. (“SST VI”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of two recently-constructed self storage facilities in Bradenton, Florida and Apopka, Florida. These represent the seventh and eighth acquisitions in SST VI. Since SST VI launched in the first quarter of 2021, the fund has purchased approximately $85 million of self storage facilities and land parcels to be developed into self storage.
“We are extremely pleased to add these superb properties to our portfolio at SST VI, and expand SST VI’s footprint into the state of Florida,” said Wayne Johnson, Chief Investment Officer of SST VI. “We are quickly amassing a very high quality portfolio that we expect will create strong value and generate strong cash flows for stockholders.”
Located at 2200 Coral Hills Road, the newly constructed facility in Apopka, a suburb of Orlando, is composed of approximately 44,300 square feet of rental space over three single-story buildings. This location is well positioned to serve the areas of Paradise Heights, South Apopka, Hiawassee, Forest City, Ocoee and Pine Hills and has good visibility from Highway 414 and Clarcona Road. The facility has a strong blend of units offered including interior climate controlled, climate controlled drive-up, non climate controlled drive-up, and RV/Boat spaces. Further, it is the only storage facility offering climate controlled drive-up units in the sub-market. Management plans to add an additional 28,250 rentable square feet with the construction of an additional single-story building.
The Bradenton facility, which opened in October 2020, is located at 6424 14th Street West. It offers approximately 64,400 square feet of rental space, all of which is climate controlled. This location serves the areas of Bayshore Gardens, South Bradenton, West Samoset, Whitfield and North Sarasota and has great frontage and visibility along the heavily-trafficked Highway 41. The facility has desirable amenities including a sophisticated security system with high definition camera surveillance, secured and alarmed doors, gated entry, LED lighting, climate controlled drive up units and interior climate-controlled units.
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in income producing and growth self storage facilities and related self storage real estate investments in the Unites States and Canada. As of December 30, 2021, SST VI has a portfolio of six operating properties in the United States comprising approximately 3,600 units and 385,000 rentable square feet and two land parcels in Ontario, Canada on which SST VI intends to develop self storage facilities.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 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. As of December 30, 2021, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 162 properties in 19 states and Ontario, Canada and comprising approximately 109,000 units and 12.4 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211230005262/en/
CONTACT: David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
949-429-3331
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA FLORIDA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY REIT
SOURCE: Strategic Storage Trust VI, Inc. (“SST VI”)
Copyright Business Wire 2021.
PUB: 12/30/2021 01:50 PM/DISC: 12/30/2021 01:51 PM
Copyright Business Wire 2021.