Strategic Storage Trust IV Inc. (SST IV), a public, non-traded, real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a self-storage facility in Riverside, Calif. Van Buren Self Storage at 3167 Van Buren Blvd. comprises about 55,000 rentable square feet in 460 units. Built in 1984, it sits on 2.3 acres, according to a press release.
"We believe the property will be an exceptional addition to the rapidly growing portfolio of Strategic Storage Trust IV," said Wayne Johnson, chief investment officer. "Located just two blocks south of the 91 Freeway, this asset is on a major artery serving the City of Riverside and should benefit operationally by being in proximity to other SmartStop-managed facilities in the area."
Based in Maryland, SST IV owns three self-storage properties comprising about 182,000 net rentable square feet. It intends to invest in in a portfolio of self-storage properties in Canada and the United States.
SmartStop is the asset manager for 113 facilities in Canada and the U.S. Its portfolio comprises approximately 8.2 million rentable square feet.
Source:
PR Newswire, Strategic Storage Trust IV Acquires 460-Unit Self Storage Facility in Riverside, California
