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 appointed Michael S. McClure as the company's new president. He replaces H. Michael Schwartz, who will continue as CEO and chairman of the board. The company appointed Matt F. Lopez to replace McClure as chief financial officer (CFO) and treasurer, according to a press release.
McClure has also been named president of SmartStop and its various affiliates, including Strategic Storage Growth Trust Inc., Strategic Storage Trust IV Inc., and Strategic Student Senior and Storage Trust Inc. With more than three decades of experience in real estate and finance, McClure has served as CFO, executive vice president and treasurer for SST II since January 2013, as well as CFO for SmartStop until last month. From 2008 until October 2015, he was CFO and treasurer of SmartStop Self Storage Inc., until the company merged with self-storage REIT Extra Space Storage Inc.
Lopez is a certified public accountant with 16 years of accounting and finance experience. He was a controller for SmartStop, assigned to SST II. He originally joined as controller of an affiliated entity in late 2014.
"Mr. McClure and Mr. Lopez have both played key roles in the success and growth of SmartStop Asset Management and our family of investment opportunities, including Strategic Storage Trust II," Schwartz said. "They are experienced professionals who enjoy the full faith of myself and our board of directors, and whose talents and judgement will continue to benefit the investors we serve in their expanded roles."
The SST II portfolio includes approximately 51,500 self-storage units and about 5.9 million rentable square feet of storage space. SmartStop is the asset manager for 103 facilities in Toronto and the United States. Its portfolio comprises approximately 7.5 million rentable square feet.