The facilities will have 115,000 rentable square feet of space in 850 climate-controlled and drive-up units
May 15, 2017: Strategic Storage Growth Trust Inc. (SSGT), a public, non-traded real estate investment trust focused on self-storage acquisition and development, has acquired a two-property portfolio in Asheville, N.C., for $10.25 million.
According to a press release, the property contains 370 units, while the property at 75 Highland Center Blvd. offers 480 units. Both offer controlled access, perimeter fencing and video cameras.
“These facilities are in a growing community with excellent demographics, including college students, retirees and apartment renters, all of which represent good demographic groups for self-storage,” said H. Michael Schwartz, chairman and CEO. “We are pleased to add these facilities to our growing portfolio.”
SSGT focuses on the acquisition, development, redevelopment and lease-up of self-storage properties. Its portfolio currently consists of 18 storage facilities in eight states comprising approximately 1.4 million net rentable square feet in 11,900 storage units.