Strategic Storage Trust Inc. has purchased a large share of interests in USA Self Storage I, DST, a trust sponsored by Strategics sponsor.
Strategic purchased an additional 73.8 percent in interests from 36 third-party sellers for about $27.7 million. The acquisition was funded from $10.2 million in cash and roughly $17.5 million from three separate bank loans.
Strategics ownership of the trust is now 93.57 percent, including 19 percent in interests previously acquired in unrelated transactions. The company intends to close on the remaining percentage by mid-February.
Sources:
- Citybiz Real Estate: Strategic Storage Trust Buying Out Partners in GA Self Storage Assets
