Strategic Storage Trust II, Inc. (SST II) Acquires 11 Self Storage Facilities in Florida and Maryland Totaling 9,540 Units
LADERA RANCH, Calif. – June 6, 2016 –Strategic Storage Trust II, Inc. (SST II) — which is sponsored by SmartStop Asset Management, LLC — recently purchased 11 self storage facilities located in Florida and Maryland totaling approximately 9,540 units and approximately 985,500 rentable square feet.
“The Mindful acquisition is accretive to our portfolio in many categories – including asking rents and occupancy,” said H. Michael Schwartz, chairman and CEO of SST II. “At 96% occupancy, these 11 properties represent a proven income stream with imbedded operational upside.”
Ten facilities are located in Florida and one facility is located in Baltimore, Maryland. All properties provide easy access with grade level drive-up units, climate controlled units and RV units.
“We like the diversity of these assets across the southern half of Florida,” said Wayne Johnson, CIO for SST II. “There are 10 stores spread amongst five counties, each in dense and established markets. The Baltimore property is in a region that we know well from a historical perspective and fits within our future growth plans.”
The details of the 11 properties in this portfolio are as follows:
Strategic Storage Trust II, Inc. (SST II) is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 39,630 self storage units and approximately 4.3 million rentable square feet of storage space.