UNLOCK THE POWER OF THE VAULT

Self-Storage REIT Strategic Storage Trust II Amends Credit Facility with KeyBank

January 29, 2016

January 27, 2016 | ISS

Strategic Storage Trust II Inc. (SST II), a self-storage real estate investment trust (REIT) sponsored by SmartStop Asset Management LLC, has amended a revolving line of credit with KeyBank. The amended credit facility has a maximum borrowing capacity of $105 million that may be increased up to $500 million, according to a press release. The REIT intends to use the financial flexibility to fund expansion.

 “We are excited to complete this amendment to our credit facility, as it allows us greater flexibility to execute on our growth strategy,” said H. Michael Schwartz, chairman and CEO of SST II. “This is an extension of our long-term relationship with KeyBank and will allow us to acquire prime self storage properties throughout the United States and Toronto, Canada.”
Print Friendly, PDF & Email
Go Back
Ramón A. Rivera-Ramos
Blue Vault Nontraded REIT and Nontraded BDC Reviews
September 1, 2016

Blue Vault helps me to stay well informed on the financial status of both open and closed nontraded REITs and BDCs, so that I can help my clients better understand the product, before they make the decision to invest and after.