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Strategic Storage Trust IV Acquires 580-Unit Self Storage Facility in Las Vegas.

MANews-(C)2009-2018

11 April 2018 - US-based real estate investment trust Strategic Storage Trust IV, Inc. (SST IV) has acquired an approximately 580-unit self storage facility located in Las Vegas, Nevada, the company said.

The facility has approximately 55,000 rentable square feet and features 24-hour onsite management.

SST IV is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017. SST IV focuses on the acquisition of stabilized and growth self storage properties.

The REIT owns four properties comprising approximately 2,120 self storage units and approximately 237,000 net rentable square feet of storage space.

SST IV is sponsored by SmartStop, a diversified real estate company focused on self storage assets, along with student and senior housing.

The company has approximately USD 1.5bn of real estate assets under management, including 114 self storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 72,000 units and 8.3 m rentable square feet.

SmartStop's real estate portfolio also includes five student housing communities with approximately 2,800 beds and 1.1 m square feet of space, as well as three senior housing communities with approximately 350 beds and 250,000 rentable square feet of space.

Country: USA

Sector: Construction/Real Estate

Target: self storage facility located in Las Vegas, Nevada

Buyer: Strategic Storage Trust IV

Vendor:

Deal size in USD:

Type: LBO

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U8NV
Date:Apr 11, 2018
Words:256
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