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| H. Michael Schwartz |
CHARLESTON, S.C. ––
Strategic Storage Growth Trust, Inc. (“SSGT”), a public non-traded real estate
investment trust sponsored by SmartStop Asset Management, LLC, announced its
purchase of a 500-unit, newly-constructed self storage facility in the
Charleston, South Carolina suburb of Mount Pleasant for $5.7 million.
“This modern self storage
facility is 100 percent climate controlled and easily accessible to renters via
Interstate 526 and other heavily trafficked thoroughfares,” said H. Michael Schwartz, chairman and chief
executive officer.
“The property presents an
opportunity to add significant value to the portfolio of Strategic Storage
Growth Trust as our professional management team leases up the facility, which
is currently approximately 16 percent leased. This acquisition fits our
investment strategy, which is to acquire attractive value-add opportunities.”
Located at 701 Wando Park
Blvd., the three-story structure is situated on approximately 1.5 acres of land
and includes roughly 48,000 rentable square feet.
With this latest
acquisition, the portfolio of SSGT is now comprised of more than 12,900 self
storage units in 9 states.
For a complete copy of the company’s news release,
please contact:
Julie Leber
Damon Elder
Spotlight Marketing
Communications
949.427.5172, ext. 703
949.427.5172, ext. 702
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