Strategic Storage Trust Increases Per-Share Net Asset Value

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Strategic Storage Trust Inc., a publicly registered, non-traded real estate investment trust investing in self-storage properties, recently announced a per-share net asset value (NAV) of $10.79, $0.79 above the current offering price.

"This increase in NAV further emphasizes what we have been saying all along to the investment community," said H. Michael Schwartz, chairman and CEO. "We are building a well-rounded self-storage company that provides both cash distributions and value to our stockholders. We will continue with a similar philosophy as we grow and expand."

The NAV is based predominantly on an appraisal of Strategic Storage Trust's self-storage portfolio by an independent third party. The value was then confirmed by the company's board of directors, which estimated value of the company's assets, subtracted the estimated value of its liabilities and divided by the number of outstanding shares, which were calculated as of Dec. 31.

Since the launch of Strategic Storage Trust in 2008, the portfolio of wholly-owned properties operating under the SmartStop brand name has expanded to include 91 wholly-owned properties in 17 U.S. states and Canada.

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