Jan 20 2016 | Article by: The DI Wire
Strategic Storage Trust II Inc., a publicly registered non-traded real estate investment trust, purchased a self storage facility in Lancaster, California for approximately $4.7 million.
The 10-building facility, which was built in 1991, is comprised of approximately 550 units totaling 71,900 rentable square feet. The property sits on approximately 4.8 acres and contains drive-up units, interior units and RV spaces. The occupancy rate is 88 percent.
I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.