SST IV intends to invest in a portfolio of self-storage properties in Canada and the United States
November 30, 2017: Based in Maryland, Strategic Storage Trust IV Inc. (SST IV), a public, non-traded, real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a self-storage facility in Texas City, Texas.
“This well-located facility is 94.8 percent leased, offers attractive amenities and is strategically situated near Emmett F. Lowry Expressway, a major transit corridor in the area,” said H. Michael Schwartz, chairman and CEO of SST IV. “This acquisition aligns perfectly with SST IV’s investment strategy to acquire a portfolio of stabilized self-storage properties mixed with value-add opportunities that provide growth opportunities.”
Best Storage at 3730 Emmett F. Lowry Expressway has 80,000 square feet of space in 480 climate-controlled and drive-up units. Built in 2010, it sits on 10.49 acres, which includes a 7.3-acre parcel for future development, according to a press release.