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| H. Michael Schwartz |
Nantucket, MA –– Strategic
Storage Growth Trust, Inc. (“SSGT”), a public non-traded real estate investment
trust sponsored by SmartStop Asset Management, LLC, announced its purchase of
an 840-unit self storage facility in Nantucket, Massachusetts.
“The acquisition of this
stabilized property strengthens the balance sheet of Strategic Storage Growth
Trust, allowing the REIT to expand its development pipeline and acquire
additional properties with certificates of occupancy,” said H. Michael Schwartz, chairman and chief
executive officer.
Located at 6 Sun Island
Road, the 93,000-square-foot facility was constructed in 2002 on 1.7 acres of
land. The property was approximately 91 percent occupied at the time of
acquisition.
Chief investment officer Wayne Johnson added, “This is the
premier self storage facility on Nantucket Island, with many safety features
and 17 climate-controlled wine storage units that serve the renowned Nantucket
Wine & Food Festival, which draws attendees and participants from
throughout New England and across the nation each year.”
For more information, please contact:
Julie Leber
Damon Elder
Spotlight Marketing
Communications
949.427.5172, ext. 703
949.427.5172, ext. 702
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