SAN FRANCISCO—Strategic Storage Trust, Inc. recently acquired additional interests of approximately 86% and now owns a majority (98%) interest in a 1,120 unit self-storage facility located in downtown San Francisco. SSTI acquired the shares from various investors in a Delaware statutory trust.
This building was previously re-branded under the SmartStop Self Storage trade name.
Located at 190 Otis St., the 76,200 square-foot facility offers eight levels (one basement) of self-storage units. It was converted to self-storage in 2000.
“This San Francisco facility is located in one of the highest visibility locations in one of the most dense urban markets in the country,” said Michael Schwartz, chairman and CEO of SSTI. “The class A building also offers prime freeway exposure as it is located adjacent to the 101 Freeway.”
SSTI is a publicly registered non-traded REIT investing in self-storage properties.