LADERA RANCH, Calif.–(BUSINESS WIRE)–July 11, 2022–
Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), today announced the acquisition of an approximately 490-unit self-storage facility in St. Johns, Florida. This is the 14th acquisition in SST VI and its first acquisition in the Greater Jacksonville market. Since launching SST VI as a private REIT in the first quarter of 2021, the REIT has purchased approximately $205 million worth of self-storage facilities and properties to convert to self-storage.
Located at 10030 Ew Pappy Road, the facility comprises two two-storey buildings and a two-storey freestanding rental office. It has approximately 60,000 square feet of rental space with a mix of temperature-controlled indoor units, outdoor drive-in units, and outdoor RV parking. The property is easily accessible from Highway 210 and is located less than two miles from the new planned communities of Beacon Lake and Beachwalk.
“This acquisition represents a great opportunity for SST VI to enter a high-growth, high-revenue pocket of MSA Jacksonville and further expand SST VI’s portfolio presence in Florida,” said Wayne Johnson, Director OHS investments VI. “We are thrilled to have this opportunity to serve the residents of St. Johns.”
About Strategic Storage Trust VI, Inc. (SST VI)
SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in revenue-generating and growth-generating self-storage facilities and related self-storage real estate investments in the United States and Canada. As of July 11, 2022, SST VI has a portfolio of 12 properties in operation in the United States comprising approximately 8,000 units and 845,000 leasable square feet, and joint venture interests in two properties under development in Toronto, Ontario.
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 450 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 July 11, 2022, SmartStop owned and managed a portfolio of 172 properties in 22 states and Ontario, Canada, comprising approximately 117,500 units and 13.4 million leasable square feet. SmartStop and its affiliates own or manage 19 operating self-storage properties in the Greater Toronto Area, totaling approximately 16,200 units and 1.7 million leasable square feet. Additional information about SmartStop is available at www.smartstopselfstorage.com.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20220711005828/en/
CONTACT: David Corak
Vice President of Corporate Finance
SmartStop Self Storage REIT, Inc.
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA FLORIDA
KEYWORD INDUSTRY: CONSTRUCTION AND REAL ESTATE OTHER RETAIL FINANCING SPECIALIZED PROFESSIONAL SERVICES REIT RETAIL RESIDENTIAL BUILDING AND REAL ESTATE
SOURCE: Strategic Storage Trust VI, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 7/11/2022 6:20 PM / DISK: 7/11/2022 6:21 PM
Copyright BusinessWire 2022.