The diversified real estate investment programs sponsored by SmartStop Asset Management LLC, a Ladera Ranch, Calif.-based company that manages 128 self-storage facilities in Canada and the United States, have raised a combined $77.5 million during the first two months of the year. The public and private programs are spread across senior and student housing in addition to self-storage.
The company’s programs raised 282 percent more than during the same two-month period last year. Its non-traded alternative investments have raised more than $1.75 billion in investor equity since 2008, according to a press release.
"Demand for alternative investments that are non-correlated to traded equities continues to grow as wealth advisers and individual investors increasingly recognize the inherent benefits of portfolio diversification," said H. Michael Schwartz, CEO. "We are committed to providing our adviser partners and their clients with investment programs that can provide income and potential appreciation while avoiding the volatility inherent in traded securities. Additionally, our focus on defensive and recession-resistant real estate asset classes provides advisers and investors with additional hedging and diversification options that many find appealing."
SmartStop has approximately $1.8 billion of real estate under management, including five student-housing communities and four senior-housing communities. Its self-storage portfolio comprises about 9.5 million rentable square feet. It’s the sponsor of Strategic Storage Trust II Inc. and Strategic Storage Trust IV Inc., public non-traded REITs focused on self-storage assets. It also sponsors Strategic Student & Senior Housing Trust Inc. focused on senior- and student-housing assets.