Strategic Storage Trust II Inc. (SST II), a public, non-traded, self-storage real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, has acquired a self-storage facility in Sacramento, Calif.—its first in the city. The property is in the Sacramento-Roseville Metropolitan Statistical Area, according to a company press release. It was previously managed by National Self Storage Management Inc. (NSSM), a self-storage facility operator and third-party management firm.
The facility at 660 Garden Highway includes five buildings comprising 61,200 rentable square feet of storage space in 530 units. Built in 2006, it offers drive-up and climate-controlled storage as well as RV parking on 2.8 acres.
“We are excited to acquire our first self-storage facility in Sacramento,” said H. Michael Schwartz, CEO and chairman of SST II.
Last week, SST II purchased Storage West in Port St. Lucie, Fla. The four-building facility comprises 53,100 rentable square feet of storage space in 530 units.
The SST II portfolio currently includes 43,000 self-storage units and approximately 4.7 million rentable square feet of storage space. It’s the asset manager for 69 facilities in Toronto and the United States. SmartStop Asset Management also sponsors Strategic Storage Growth Trust Inc., a public, non-traded REIT also focused on self storage assets.
Founded in 2010 and based in Tucson, Ariz., NSSM owns or manages 12 properties in five states.