Michael McClure McClure: “While self-storage remains our bread and butter, SmartStop will also acquire more student housing and will seek to enter the senior-housing sector.”

LADERA RANCH, CA—The self-storage sector has become a better-known asset class that has recently attracted more capital, consequently driving up prices and causing cap rates to compress, SmartStop Asset Management LLC’s Michael McClure tells GlobeSt.com. McClure was recently appointed by the firm’s board to serve as the company’s president, in addition to president of its various affiliates including Strategic Storage Trust II Inc., Strategic Storage Growth Trust Inc., Strategic Storage Trust IV Inc. and Strategic Student Senior and Storage Trust Inc. He replaces H. Michael Schwartz, who continues in his capacity as chief executive officer.