Strategic Storage Trust IV Buys Multi-State Portfolio
- Nov 13, 2019
Strategic Storage Trust IV has added four new facilities, totaling 326,000 square feet in North Carolina, Virginia and Florida, to its portfolio. Taylor Theus Holdings traded the newly constructed Class A properties, according to Yardi Matrix. Under the new ownership, the facilities will be rebranded as SmartStop Self Storage.
Mark Owen, senior vice president of Eastdil Secured, brokered the deal.
The acquisition encompasses properties in growing suburban areas or close to the urban cores of Charlotte, N.C., Charlottesville, Va. and Ocoee, Fla. The facilities occupy a combined total of approximately 14.6 acres and comprise 3,500 storage spaces, ranging between 12 to 200 square feet. Characteristics of the assets include climate control, drive-up accessibility, electric gated entry and computerized keypad access. Additionally, the properties also offer wine storage spaces.
Strategic Storage Trust IV is a public, non-traded REIT sponsored by SmartStop Self Storage. Strategic Storage Trust IV owns 21 facilities comprising around 15,000 units, which equates to 1.8 million net rentable square feet. Earlier this year, the REIT acquired Guardwell Self Storage, a facility with 48,000 net rentable square feet in Redmond, Wash.