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Strategic Storage REITs Ink $51 Million Deal

November 24, 2015

Strategic Storage Growth Trust and Strategic Storage Trust II, two publicly registered non-traded real estate investment trusts sponsored by SmartStop Self Storage Inc., agreed to purchase the Storage Spot Portfolio, which consists of four self storage facilities in Toronto, Canada, for $51 million. Located in the Stoney Creek, Oakville, Burlington and Milton areas of Toronto, the portfolio totals 313,800 square feet with 3,360 individual self storage units.

The Stoney Creek property is approximately 81,600 square feet and consists of 780 units with a purchase price of $2.1 million. The property is currently under development.

The Oakville property is approximately 82,400 square feet and consists of 820 units with a purchase price of $16.9 million. The property is also under development.

Built in 2011, the Burlington property is approximately 79,700 square feet and consists of 910 units with a purchase price of $19.2 million.

 

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.