Strategic Storage Growth Trust III, Inc. Chooses Portfolio in The Villages, Florida Market for Its First Acquisition
August 9, 2022 | Strategic Storage Growth Trust III, Inc.
Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private company that intends to qualify as a real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of two self storage facilities in The Villages, Florida MSA. The Wildwood-Lady Lake portfolio represents the premier acquisition for SSGT III since it launched in May 2022.
“We are extremely excited to enter The Villages market with the Lady Lake and Wildwood facilities,” said Wayne Johnson, Chief Investment Officer of SSGT III. “This portfolio offers a solid opportunity to enter a high-growth market in central Florida, and we expect that the addition of institutional management and marketing to these properties will have a positive impact for stockholders.”
Located at 175 Rolling Acres Road, the Lady Lake facility consists of nine single-story buildings with approximately 90,000 square feet of rentable space and 750 units with a mix of interior climate-controlled units, climate-controlled and non-climate-controlled drive-up units, and over 120 RV and boat spaces. This location is well positioned to serve the areas of Lady Lake South, Orange Blossom Hills South, The Villages, Weirsdale, and Cherry Lake.
The state-of-the-art Wildwood facility opened in December 2018 and is located at 5688 FL-44. It offers approximately 97,400 square feet of rental space and 1,010 units with a mix of climate-controlled interior and non-climate-controlled exterior units. This location is highly visible from State Road 44 and services the areas of The Villages, Leesburg, Oxford, Leyton Villas, and Village of Collier. The area is expecting 36% population growth during the next four years.
About Strategic Storage Growth Trust III, Inc. (SSGT III):
SSGT III is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SSGT III’s primary investment strategy is to invest in growth-oriented self storage facilities and related self storage real estate investments in the United States and Canada. As of August 9, 2022, SSGT III has a portfolio of two operating properties in the United States comprising approximately 1,880 units and 187,400 rentable square feet.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 450 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of August 9, 2022, SmartStop has an owned or managed portfolio of 174 properties in 22 states and Ontario, Canada, comprising approximately 119,200 units and 13.5 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.6 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Contacts
David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
949-429-3331
IR@smartstop.com
