Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management, acquired vacant land that will be developed into a 780-unit self storage facility in Hamilton, Ontario.
The 3.7-acre site will house a two-story storage facility totaling approximately 81,600 square feet. The building, which will offer interior loaded and 100 percent climate controlled units, is expected to be completed in late 2017.
In other Strategic Storage Growth Trust news, the REIT signed an agreement to purchase a soon-to-be-developed self storage facility in Pembroke Pines, Florida for $15.7 million, plus closing costs and acquisition fees.
