Strategic Storage Growth Trust II, Inc. Acquires Newly Constructed 770-Unit Self Storage Facility in Milwaukee
MILWAUKEE (Aug. 19, 2019) – Strategic Storage Growth Trust II, Inc. (“SSGT II”), a private real estate investment trust sponsored by an indirect subsidiary of SmartStop Self Storage REIT, Inc., announced today its acquisition of a newly constructed approximately 770-unit self storage facility in Milwaukee, Wisconsin.
“We expect this self storage facility to satisfy significant demand with its exceptional location on Capitol Drive, a major thoroughfare in the area, and its new high-quality construction,” said Wayne Johnson, chief investment officer. “We have acquired the property in a Certificate of Occupancy transaction, which aligns well with our strategy to focus on opportunistic self storage properties, and we believe it is well-suited for our portfolio.”
Located at 3420 W. Capitol Drive, the facility is situated on 3.95 acres of land and is comprised of approximately 83,000 rentable square feet. Property amenities include drive-up units, climate-controlled units, a covered loading area and gate access.
About Strategic Storage Growth Trust II, Inc. (“SSGT II”):
SSGT II is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSGT II focuses on opportunistic self storage properties.
About SmartStop Self Storage REIT, Inc. (“SmartStop”)
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 350 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, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.4 billion of real estate assets under management, including 113 properties in 17 states and Toronto, Canada that are directly owned and managed by SmartStop, as well as a growing portfolio of 21 properties in 8 states where SmartStop REIT Advisors serves as the property manager for properties owned by its sponsored programs. In total, this portfolio comprises approximately 87,000 units and 10 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Strategic Asset Management I, LLC
10 Terrace Rd.
Ladera Ranch, CA 92694
T: (949) 429.6600
F: (949) 429.6606