Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management, purchased a 504-unit self-storage facility in the Port St. Lucie suburb of Jensen Beach, Florida. The acquisition is the first for the recently launched REIT. The purchase price of the property was not disclosed.
“This property is an excellent initial acquisition for Strategic Storage Trust IV, as it suits our selective acquisition criteria to a tee,” said H. Michael Schwartz, chairman and chief executive officer. “The self-storage facility is 99 percent leased, equipped with interior climate control, is well-located near State Route 1, and provides easy access to the St. Lucie River and Jensen Beach to Jupiter Inlet Aquatic Preserve.”
The approximately 48,000-square-foot facility is located on nearly 4 acres of land at 1105 Northeast Industrial Blvd. and is equipped with 96 RV and boat spaces.
Strategic Storage Trust IV was declared effective by the SEC last month and has no acquisition fees affiliated with the offering.
Strategic Storage Trust IV focuses on the acquisition of stabilized and growth self storage properties.