Strategic Storage Trust II, Inc. (SST II) Acquires 530-Unit Self Storage Facility in Florida
PORT ST. LUCIE, FL–(Marketwired – May 3, 2016) – Strategic Storage Trust II, Inc. (SST II) — which is sponsored by SmartStop Asset Management, LLC — recently purchased a self storage facility located in the Miami-Fort Lauderdale-West Palm Beach Metropolitan Statistical Area (MSA). The four-building facility totals approximately 530 units and approximately 53,100 rentable square feet.
“We targeted this self storage facility due to its high occupancy level and solid location,” said H. Michael Schwartz, chairman and CEO of SST II.
Built in 1999, the Port St. Lucie facility sits on approximately 3.56 acres and is approximately 97% occupied. Located at 525 SW South Macedo Boulevard, the facility offers drive-up, RV spaces and climate controlled units.
About Strategic Storage Trust II, Inc. (SST II)
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 27,600 self storage units and approximately 3.0 million rentable square feet of storage space.
About SmartStop Asset Management, LLC
SmartStop Asset Management, LLC is a diversified real estate company with a managed portfolio that currently includes approximately 43,000 self storage units and approximately 4.7 million rentable square feet. The company is the asset manager for 69 self storage facilities located throughout the United States and Toronto, Canada. SmartStop Asset Management is the sponsor of SST II and Strategic Storage Growth Trust, Inc. (SSGT), a public non-traded REIT focused on opportunistic self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. In 2015, key executives at Smartstop Asset Management negotiated the sale of SmartStop Self Storage Inc. (Smartstop), a fully integrated, self-administered and self-managed self storage company, owning and/or operating 170 self storage properties in 21 states and Toronto, Canada, to Extra Space Storage Inc., the second-largest storage operator in the United States, in a merger transaction with SmartStop having an enterprise value of $1.4 billion.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties relating to the public offering of our common stock; uncertainties related to the timing and availability of distributions; and other risk factors as outlined in the Company’s prospectus, as amended from time to time. This is neither an offer nor a solicitation to purchase securities.