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12/22/15
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Strategic Storage Growth Trust Inc (SSGT) has acquired three self-storage facilities totaling 196.3k sf of storage space and 1,400 units for $26.7 mil. SSGT is sponsored by SmartStop Asset Management LLC.
The portfolio consists of one self-storage facility located in the Alamo Heights area of San Antonio, TX, one self-storage facility located in Kingwood, TX and one self-storage facility located in Aurora, CO. Another San Antonio property with approximately 101.6k sf is in contract and scheduled to close in January 2016.
The portfolio features climate-controlled units, drive-up units and covered RV spaces. The details of the Texas/Colorado portfolio are as follows:
8239 Broadway, San Antonio, TX: approximately 490 units, approximately 76.7k sf.
1671 North Park Dr., Kingwood, TX: approximately 470 units, approximately 60.1k sf.
500 Laredo, Aurora, CO: approximately 450 units, approximately 59.5k sf.
(In contract): 875 E. Ashby Place, San Antonio, TX, approximately 440 units, approximately 83.4k sf.
These properties have performed very well historically. We plan on expanding several of the facilities to maximize revenue, said Wayne Johnson, CIO of SSGT.
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