Strategic Storage Trust Inc., a publicly registered, non-traded real estate investment trust (REIT), has formally changed its name to SmartStop Self Storage Inc. The diversified real estate company focuses on self-storage acquisitions and development, as well as advisory and property-management services. It has been operating its storage locations under the SmartStop brand name for several years.
"We now have a fully integrated self-managed operations team of approximately 300 self-storage, investment and management professionals focused on increasing revenue, occupancy, net operating income and customer satisfaction," said H. Michael Schwartz, chairman and CEO. "This management team has been responsible for 11 quarters of consecutively increasing same-store revenue and net operating income growth."
SmartStop is a fully integrated, self-administered REIT that operates 136 properties in 17 states and Canada. It also serves as the sponsor, adviser and property manager for two recently launched self-storage REITs: Strategic Storage Trust II Inc. (SSTI-II) and Strategic Storage Growth Trust Inc. (SSGT). SSTI-II is a public, non-traded REIT specializing in “stabilized” self-storage properties, and SSGT is a private REIT focusing on the acquisition and development of self-storage properties, company officials said in a press release.