Storage REIT Buys Five Texas Facilities

ARLINGTON, TX-Strategic Storage Trust, Inc. recently purchased five self-storage properties located in the greater Dallas/Fort Worth and Midland, Texas market. All five facilities will be re-branded under the SmartStop Self Storage trade name.

The Southwest portfolio totals nearly 400,000 square feet and 2,800 units and was acquired for a total aggregate purchase price of approximately $27.9 million.

This five-property acquisition includes:

·         810 S. Denton Tap Road in Coppell, TX (740 units, 101,735 square feet)

·         1925 S. Bowie Drive in Weatherford, TX (470 units, 61,995 square feet)

·         1712 W. Randol Mill Road in Arlington, TX (445 units, 59,495 square feet)

·         5005 Andrews Highway in Midland, TX (615 unit, 92,820 square feet)

·         1904 W. Loop 250 N. in Midland, TX (535 units, 75,800 square feet)

“We targeted these self-storage facilities due to their high occupancy levels and solid locations,” said Michael Schwartz, chairman and CEO of SSTI.  “This portfolio is an ideal fit for our growing brand and strategy, allowing for continued expansion in these markets.”

Strategic Storage Trust, Inc. is one of five publicly registered self-storage REITs in the United States and is one of the fastest growing self-storage non-traded REITs nationwide.