Strategic Storage Trust, Inc. Acquires Majority Interest in San Francisco Self-Storage Facility

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    Strategic Storage Trust, Inc. (SSTI) — a publicly registered non-traded REIT investing in self-storage — recently acquired additional interests of approximately 86% and now owns a majority (98%) interest in a 1,120 unit self-storage facility located in downtown San Francisco from various investors in a Delaware statutory trust. This building was previously re-branded under the SmartStop® Self Storage trade name.

    Located at 190 Otis St., the 76,200 square-foot facility offers eight levels (one basement and seven stories) of self-storage units and was converted to self-storage in 2000.

    “This San Francisco facility is located in one of the highest visibility locations in one of the most dense urban markets in the country,” said H Michael Schwartz, chairman and CEO of SSTI. “The Class A building also offers prime freeway exposure as it is located adjacent to the 101 Freeway.”

    About Strategic Storage Trust, Inc.

    Strategic Storage Trust, Inc. (SSTI) is comprised of industry veterans with extensive institutional experience in the acquisition and property management of self-storage properties. Since the launch of SSTI in 2008, the company’s portfolio of wholly-owned properties has expanded to include 123 properties in 17 states and Canada that are being branded as SmartStop® Self Storage. The portfolio includes approximately 78,000 self-storage units and 10.3 million rentable square feet of storage space. For more information about SSTI, please call 949-469-6600 or visit www.strategicstoragetrust.com

    (via MarketWired)

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