Strategic Storage Trust II Inc. (SST II), a public, non-traded, self-storage real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, has purchased Saddle Rock Self Storage in Aurora, Colo., from Metro Self Storage, a Colorado-based operator. The property at 6950 S. Gartrell Road sits on 5.5 acres and comprises 53,360 rentable square feet of storage space in 400 units. Developed in 2012, the 10-building facility contains drive-up and interior, climate-controlled units as well as vehicle parking.
“This facility is in a solid retail location—a growth market with excellent demographics,” said H. Michael Schwartz, CEO and chairman of SST II. “We will continue to focus on major metros like the greater Colorado market, which offer tremendous long-term value.”
Earlier this month, SST II acquired 11 facilities in North Carolina. The properties comprise approximately 553,500 rentable square feet in 4,850 units. The assets previously operated under the George’s Stor-Mor or Mindful Storage brand names.
Metro Self Storage also owns Murphy Creek Self Storage in Aurora. The property 1255 S. Gun Club Road contains more than 600 units.
The SST II portfolio includes approximately 47,520 self-storage units and about 5.5 million rentable square feet of storage space. SmartStop Asset Management is the asset manager for 102 facilities in Toronto and the United States. Its portfolio comprises approximately 7.4 million rentable square feet. SmartStop also sponsors Strategic Storage Growth Trust Inc., a public, non-traded REIT also focused on self storage assets.
Sources:
- Metro Self Storage: Website
