January 29, 2016
Self-Storage REIT Strategic Storage Trust II Amends Credit Facility with KeyBank
January 27, 2016 | ISS Strategic Storage Trust II Inc. (SST II), a self-storage real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, has amended a revolving line …

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January 27, 2016 | ISS

Strategic Storage Trust II Inc. (SST II), a self-storage real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, has amended a revolving line of credit with KeyBank. The amended credit facility has a maximum borrowing capacity of $105 million that may be increased up to $500 million, according to a press release. The REIT intends to use the financial flexibility to fund expansion.

Ā ā€œWe are excited to complete this amendment to our credit facility, as it allows us greater flexibility to execute on our growth strategy,ā€ said H. Michael Schwartz, chairman and CEO of SST II. ā€œThis is an extension of our long-term relationship with KeyBank and will allow us to acquire prime self storage properties throughout the United States and Toronto, Canada.ā€

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