Strategic Storage Growth Trust II, Inc. Acquires 1,029-Unit Self Storage Facility in Sacramento
March 5, 2019 | Strategic Storage Growth Trust II, Inc. | PR Newswire
Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by SmartStop Asset Management, LLC ("SmartStop"), announced today its acquisition of a 1,029-unit self storage facility located in Sacramento, California. This approximately $15.6 million purchase is the first acquisition completed by SSGT II.
"This is a newly constructed self storage facility ideally located along US Route 50 in the midst of the thriving Sacramento Valley between California State University, Sacramento and Sacramento Mather Airport," said H. Michael Schwartz, chief executive officer of Strategic Storage Growth Trust II, Inc. "We expect to achieve significant value with this facility, which should command significant demand given its exceptional location, accessibility and modern design."
Located at 9950 Mills Station Road and situated on 5.68 acres of land, the asset is comprised of approximately 94,000 square feet and one two-story building. The facility was constructed in September 2018. Property amenities include 24-hour video surveillance, climate-controlled units, security gates, and bright lighting.