SmartStop Asset Management LLC, a diversified real estate company that manages 89 self-storage facilities in Canada and the United States, has met its business goals for its first year in operation, with nearly $1 billion in assets under management. The company’s portfolio comprises about 6.7 million rentable square feet in 59,400 units. It has also raised more than $450 million for self-storage acquisitions, according to a press release.

"We are extremely excited to celebrate our 12-month anniversary, as we have successfully achieved all our acquisition, operational and marketing goals for the year," said H. Michael Schwartz, president and CEO. "From an operational perspective, we have created a solid platform for vast growth in 2017 and beyond."

Schwartz and other executives negotiated the $1.4 billion sale of SmartStop Self Storage Inc. to real estate investment trust (REIT) Extra Space Storage Inc. last year. Since then, SmartStop Asset Management has been very active in expanding its portfolio and recently completed a $35 million, 120,000-square-foot mixed-use development in Ladera Ranch, Calif., which will serve as its headquarters.

While the self-storage operator will occupy the fourth floor, the facility also includes a 42,000-square-foot self-storage facility, more than 16,000 square feet of office space, and the Ladera Sports Center, a 63,000-square-foot gymnasium. The loft-style space has sweeping views of the ocean. It’s equipped with automatic blinds attached to solar sensors on the roof to control incoming light. The office features four “high-tech” conference rooms, a call center and a server room with “hot and cold aisle systems for maximum efficiency,” the release stated.

"Our new state-of-the-art headquarters will help us continue to grow and prosper," Schwartz said. "SmartStop Asset Management's current managed self-storage portfolio includes institutional-grade assets that exhibit strong demographics, have consistently high traffic counts and are located in active markets."

The company also recently launched a new division to seek student and senior housing as well as self-storage properties for exchange under Section 1031 of the U.S. revenue code, which defers capital-gains taxes on the transfer of real estate assets.

SmartStop is also the sponsor of Strategic Storage Growth Trust Inc., a public, non-traded REIT focused on self-storage acquisition and development, and Strategic Storage Trust II Inc., a public non-traded REIT that focuses on stabilized self-storage properties.

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