Strategic Storage Growth Trust Increases NOI by 39% in First Quarter 2017

Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust, announced increases in same-store revenues, net operating income, occupancy and annualized rent per occupied square footage as part of its overall operating results for the three months ended March 31, 2017.

“Our strong performance during the first quarter demonstrates the execution of our strategy: acquiring quality assets with good lease-up potential and delivering growth through institutional management,” said H. Michael Schwartz, chairman and chief executive officer of SSGT. “We also continued to expand our portfolio during the quarter with the acquisition of two lease-up properties in growing markets totaling $28.5 million.”

First Quarter 2017 Highlights

• Increased same-store revenues and NOI by 20.1 percent and 38.9 percent, respectively, compared to the same period in 2016.

• Increased same-store average physical occupancy by approximately 9.1 percent to 93.2 percent from 84.1 percent compared to the same period in 2016.

• Increased same-store annualized rent per occupied square foot by approximately 8.1 percent to $11.51 from $10.65 compared to the same period in 2016.

Closedown of Offering

The closedown of SSGT’s primary offering occurred on March 31, 2017. As of May 15, 2017, the REIT had issued approximately 18.7 million Class A shares and approximately 7.5 million Class T shares for approximately $200.9 million and $79 million, respectively, in its offerings.

Subsequent Events

Updated NAV

On April 13, 2017, the board approved an estimated value of $11.56 per share for Class A and Class T shares of the REIT’s common stock.

DRP Offering

On May 5th, the REIT submitted a filing with the SEC to incorporate its distribution reinvestment plan and register up to an additional $115.6 million in shares under its DRP offering, which may be terminated at any time with 10 days’ prior written notice to stockholders.

Potential Acquisitions

The company is planning to acquire three self storage facilities in Gilbert, Arizona; Mt. Pleasant, South Carolina; Las Vegas, Nevada for $10 million, $5.7 million, and $9.2 million each, respectively.

Strategic Storage Growth Trust focuses on the acquisition, development, redevelopment and lease-up of self storage properties. The company’s portfolio currently consists of 18 operating self storage facilities located in eight states and includes three development properties. The REIT went effective in January 2015 and has raised more than $279 million in investor equity before closing in March 2017.

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