Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust focusing on self-storage, recently acquired more than an 80 percent interest in a 10-property portfolio worth nearly $37.6 million.
Strategic Storage Trust acquired the other 20 percent interest in transactions between September 2009 and November 2010. The total portfolio includes approximately 5,440 units and 726,000 square feet.
The recently acquired sites will be rebranded as SmartStop Self Storage and are located in the following states:
- Texas: Five properties—approximately 2,860 units and 413,000 square feet.
- North Carolina: Three properties—approximately 1,580 units and 179,000 square feet.
- Georgia: Two properties—approximately 1,000 units and 134,000 square feet.
Launched in 2008, the Strategic Storage Trust portfolio of wholly-owned properties now includes 55 properties across 16 U.S. states and Canada.