Strategic Storage Trust IV Acquires Approximately 700-Unit Self Storage Facility in Naples, Florida
NAPLES, Fla. (Aug. 6, 2018) — Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today its acquisition of an approximately 700-unit self storage facility in downtown Naples, Florida.
“This facility is strategically located close to the heart of downtown Naples adjacent to several newly opened and under-construction condominium projects,” said Wayne Johnson, chief investment officer. “We believe this will continue to enhance demand for the facility and generate greater value for our investors. Additionally, the facility has served the Naples community for many years and we look forward to continuing the high level of service that our tenants have enjoyed.”
Located at 275 Goodlette-Frank Road, the self storage facility is comprised of approximately 77,900 net rentable square feet. Constructed in 2001, the facility was approximately 97.5 percent leased at the time of acquisition. It features climate-controlled drive-up units, remote-control access, high-tech security, two elevators and wine and automobile storage options.
About Strategic Storage Trust IV, Inc. (SST IV)
SST IV is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017. SST IV focuses on the acquisition of stabilized and growth self storage properties. SST IV owns seven properties comprising approximately 4,300 self storage units and 481,800 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
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