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Strategic Storage Growth Trust Acquires California Facility for USD 18.4m.

MANews-(C)2009-2017

23 March 2017 - US-based REIT Strategic Storage Growth Trust, Inc. has acquired a newly converted, 900-unit self storage facility that opened in March in Garden Grove, California for USD 18.4m, the company said.

Located at 12321 Western Ave., the approximately 3-acre property includes roughly 95,000 rentable square feet and 59 RV storage spaces.

Strategic Storage Growth Trust focuses on the acquisition, development, redevelopment and lease-up of self storage properties.

The SSGT portfolio currently consists of 16 operating self storage facilities located in seven states comprising approximately 11,000 self storage units and approximately 1.3 m net rentable square feet of storage space.

Additionally, SSGT owns two development properties in the Greater Toronto Area which will be comprised of approximately 1,700 self storage units and 170,000 net rental square feet of storage space once completed.

It also owns one development property in Asheville, North Carolina which will be comprised of approximately 650 self storage units and 72,000 net rental square feet of storage space once completed.

Country: USA

Sector: Construction/Real Estate

Target: 900-unit self storage facility in Garden Grove, California

Buyer: Strategic Storage Growth Trust

Vendor:

Deal size in USD: 18.4m

Type: LBO

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:1U9CA
Date:Mar 23, 2017
Words:210
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