Strategic Storage Trust VI, Inc. Acquires Storage Facility in Phoenix MSA
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LADERA RANCH, Calif. — Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), today announced the acquisition of an approximately 590 unit self storage facility in Chandler , Arizona. The property was originally built in 1999 and extended in 2020. It is the 13and acquisition in SST IV and fourth acquisition in the Phoenix Market. Since launching SST VI as a private REIT in the first quarter of 2021, the REIT has purchased approximately $190 million worth of self-storage facilities and parcels of land to convert to self-storage .
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Located at 12220 E. Riggs Road, the property comprises approximately 81,400 square feet of rental space spread across a mix of 590 air-conditioned and non-air-conditioned units. This location is located near Bear Creek Golf Resort, Springfield Golf Resort and Sunbird Golf Club and is well positioned to service the Chandler, Sun Lakes, Goodyear Village, Queen Creek and Gilbert areas. It is easily accessible from Highway 87, with good visibility from E. Riggs Rd. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system, secure and alarmed doors, gated entry, units with ground floor access and temperature-controlled indoor units.
“We are extremely pleased to add this high-quality property to our portfolio at SST VI and expand SST VI’s footprint in Phoenix,” said Wayne Johnson, Chief Investment Officer of SST VI. “With our 11and operating properties in the program, we believe we are building a very high quality portfolio that we believe will create strong shareholder value.
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in revenue-generating and growth-generating self-storage facilities and related self-storage real estate investments in the United States and Canada. As of May 17, 2022, SST VI had a portfolio of 11 properties in operation in the United States comprising approximately 7,500 units and 785,000 leasable square feet and joint venture interests in two properties under development in Toronto, Ontario.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals who are focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of May 17, 2022, SmartStop owned and managed a portfolio of 170 properties in 22 states and Ontario, Canada, comprising approximately 115,900 units and 13.2 million leasable square feet. SmartStop and its affiliates own or manage 19 operating self-storage properties in the Greater Toronto Area, totaling approximately 16,200 units and 1.7 million leasable square feet. Additional information about SmartStop is available at www.smartstopselfstorage.com.
Vice President of Corporate Finance
SmartStop Self Storage REIT, Inc.