SmartStop Asset Management, LLC Celebrates One-Year Anniversary With Nearly $1 Billion in Assets Under Management
In Its First Year of Operations, SmartStop Asset Management Raises Over $450 Million for Self Storage Acquisitions; Completes $34 Million Mixed-Use Development; Moves Into State-of-the-Art Office Space; Forms New Division to Focus on 1031 Offerings
LADERA RANCH, CA–(Marketwired – Oct 10, 2016) – SmartStop Asset Management, LLC has built a solid infrastructure in its first year of operations with nearly $1 billion in assets under management. The diversified real estate company now manages a portfolio that includes approximately 59,400 self storage units and approximately 6.7 million rentable square feet. SmartStop Asset Management is the asset manager for 89 self storage facilities located throughout the United States and Toronto, Canada. In addition, SmartStop Asset Management raised over $450 million for self storage acquisitions.
These milestones were achieved just one year after key executives at SmartStop Asset Management negotiated the sale of SmartStop Self Storage, Inc., a fully integrated, self-administered and self-managed self storage company, to Extra Space Storage, Inc. in a merger transaction totaling approximately $1.4 billion.
“We are extremely excited to celebrate our 12-month anniversary as we have successfully achieved all our acquisition, operational and marketing goals for the year,” said H. Michael Schwartz, president and CEO of SmartStop Asset Management. “From an operational perspective, we have created a solid platform for vast growth in 2017 and beyond.”
SmartStop Asset Management is also the sponsor of two programs formed in 2013: Strategic Storage Trust II, Inc. (SST II), a public non-traded REIT that focuses on stabilized self-storage properties and Strategic Storage Growth Trust, Inc. (SSGT), a public non-traded REIT that focuses on development, lease up and growth-oriented self storage properties.
In addition, SmartStop Asset Management recently completed a $35 million, 120,000-square-foot, technologically advanced mixed-use facility in Ladera Ranch, Calif., which includes the Ladera Sports Center, a 63,000-square-foot gymnasium; a 42,000-square-foot self storage facility; and more than 16,000 square feet of office space.
The fourth-floor office space, which is home to SmartStop Asset Management, offers sweeping views, including ocean vistas. Accessed by two dedicated secure elevators, the loft-style space, located at 10 Terrace Road, has open ceilings, huge windows and glass walls that allow natural light into the majority of the space. Automatic blinds attached to solar sensors on the roof control the incoming light. The office also features four high-tech conference rooms, a large break room, a call center and a server room with hot and cold aisle systems for maximum efficiency.
“Our new SmartStop Asset Management state-of-the-art headquarters will help us continue to grow and prosper,” said Schwartz, who designed and financed the entire mixed-use facility, and currently owns the Ladera Sports Center and office space. “SmartStop Asset Management’s current managed self storage portfolio includes institutional-grade assets that exhibit strong demographics, have consistently high traffic counts and are located in active markets.”
SmartStop Asset Management recently launched a new division actively seeking student and senior housing and self storage properties for exchanges under Section 1031 of the United States Revenue Code, which defers capital gains taxes on the transfer of real estate assets.
About SmartStop Asset Management, LLC
SmartStop Asset Management, LLC is a diversified real estate company with a managed portfolio that currently includes approximately 59,400 self storage units and approximately 6.7 million rentable square feet. The company is the asset manager for 89 self storage facilities located throughout the United States and Toronto, Canada. SmartStop Asset Management is the sponsor of both SST II and SSGT. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. Additional information is available at www.smartstopassetmanagement.com
About Strategic Storage Trust II, Inc.
SST II is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 42,270 self storage units and approximately 4.9 million rentable square feet of storage space.
About Strategic Storage Growth Trust, Inc.
SSGT is a public, non-traded REIT that focuses on the acquisition, development, redevelopment and lease-up of self storage properties. The SSGT portfolio currently consists of 14 operating self storage facilities located in seven states comprising approximately 9,300 self storage units and approximately 1,100,000 net rentable square feet of storage space.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties relating to the public offering of our common stock; uncertainties related to the timing and availability of distributions; and other risk factors as outlined in the Company’s prospectus, as amended from time to time. This is neither an offer nor a solicitation to purchase securities.
SmartStop Asset Management, LLC
10 Terrace Rd.
Ladera Ranch, CA 92694
T: (949) 429.6600
F: (949) 429.6606