SmartStop Asset Management Completes $59.2 Million DST Offering of Two Student Housing Communities in Michigan and South Carolina

LADERA RANCH, Calif. – (Oct. 15, 2018) – Strategic 1031 Properties, LLC, an affiliate of SmartStop Asset Management (SmartStop), announced today that it successfully completed its equity raise for the Power 5 Conference Student Housing I DST. The offering raised a total of $59.2 million of equity with approximately 170 investors.

Power 5 Conference Student Housing I, DST is comprised of two student housing properties:

• YOUnion @ Columbia (formerly known as Aspyre at Assembly Station), a 400-unit, 760-bed student housing community located near the University of South Carolina, and
• YOUnion @ Ann Arbor (formerly known as 411 Lofts), a 97-unit, 345-bed student housing community located near the University of Michigan in Ann Arbor.

“Purpose-built, pedestrian-to-campus student housing at Tier I Universities has proven to be an attractive investment class for 1031 exchange investors due to its recession-resistant characteristics, consistent cash flows, and rising demand driven by steady enrollment increases at major universities with outdated on-campus dormitories,” said John Strockis, chief investment officer. “SmartStop is pleased to complete this DST offering of two Class A student housing communities. We expect this investment to benefit from the YOUnion Student Livingâ rebranding now underway.”

Located at 1000 Whaley St., YOUnion @ Columbia is comprised of fully furnished one-, two-, and three-bedroom units ranging in size from 560 square feet to 1,295 square feet. Each unit features a full-size washer and dryer, modern appliances, and a private balcony/patio. Community amenities include onsite management and maintenance staff, 24-hour fitness center, connected parking garage, card-access entries, high-speed Internet and Wi-Fi, five courtyards, a business center with computer lab, pools, a sauna and various outdoor recreational areas. The property is within walking distance of the University of South Carolina, which has more than 350 degree programs and reports an enrollment of more than 34,000 undergraduate and graduate students at its main campus.

A 10-story building, YOUnion @ Ann Arbor is comprised of fully furnished one-, two-, three- and four-bedroom units ranging in size from 400 square feet to 1,135 square feet. Community amenities include security-controlled access to units and bedrooms; underground parking; a 24-hour fitness facility; 10th floor resident sky lounge; computer center with iMacs, PCs and printers; study rooms; free common area washers and dryers; high-speed internet and Wi-Fi; onsite restaurants and a tanning room. The property is located three blocks from the University of Michigan, which reports more than 275 degree programs, 583,000 living alumni worldwide and an enrollment size of approximately 46,000 students as of June 2018.

About Strategic 1031 Properties, LLC

Strategic 1031 Properties, LLC is a Delaware limited liability company that is owned by SmartStop Asset Management, LLC.

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