Strategic Storage Growth Trust to Sell San Antonio Property for $16.1 Million
Strategic Storage Growth Trust Inc., a publicly registered non-traded real estate investment trust, signed an agreement to sell a self storage facility and industrial warehouse/office space in San Antonio, Texas for $16.1 million.
The San Antonio property consists of approximately 385 units and approximately 49,250 square feet of storage space. In addition, the property contains approximately 5,800 square feet of cold storage space, 8,300 square feet of office space, and 9,000 square feet of “flex” warehouse space.
As previously reported by The DI Wire, the San Antonio property was purchased by the REIT in January 2016 for $12.3 million. The facility was part of a $39 million, four-property portfolio purchase that closed in two phases.
The unnamed buyer will make a deposit of approximately $250,000 in connection with the sale agreement.
Strategic Storage Growth Trust focuses on the acquisition, development, redevelopment and lease-up of self-storage properties. Their portfolio currently consists of 14 self storage facilities. The REIT went effective in January 2015 and has raised $29.5 million since inception, according to the most recent Stanger Market Pulse.
