Strategic Storage Growth Trust, Inc. (“SSGT”), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, announced today its acquisition of an 850-unit self-storage portfolio in Asheville, North Carolina for $10.25 million.
The portfolio includes:
- 197 Deaverview Road, a 370-unit self-storage facility equipped with drive-up entrances, interior climate control, a gated fence and surveillance cameras; and
- 75 Highland Center Blvd., a 480-unit self-storage facility equipped with drive-up entrances, a gated fence and surveillance cameras.
The two properties offer a combined 115,000 rentable square feet of space, including 40 RV/boat spaces.
“These facilities are located 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 chief executive officer. “We are pleased to add these facilities to our growing portfolio, which now includes 21 properties in eight states and Toronto, Canada.”