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Strategic Storage Trust II Reports Second Quarter 2016 Results

Strategic Storage Trust II Inc., a publicly registered non-traded real estate investment trust, announced operating results for the three and six months ended June 30, 2016.

“We are pleased to report our second quarter results,” commented H. Michael Schwartz, CEO of Strategic Storage Trust II Inc. “We are pleased with our year-over-year same-store occupancy and revenue growth which validates the imbedded operational upside we saw in these properties.”

Key Highlights for the Three Months Ended June 30, 2016:

• During the second quarter, the REIT acquired 23 properties for a total purchase price of approximately $368 million.

• Total revenue was approximately $9.8 million during the second quarter, compared to $4.5 million for the same period in 2015.

• Net loss attributable to Strategic Storage Trust II, Inc. common stockholders in the second quarter was $10.7 million, compared to a net loss of $4.0 million in the second quarter of 2015.

• Net loss per class A share (basic and diluted) was $0.27 for the quarter, and net loss per class T share (basic and diluted) was $0.27 for the quarter.

• Increased same-store revenues and net operating income by 11 percent and 7.8 percent, respectively, for the second quarter of 2016 compared to the same period last year.

• Increased same-store average physical occupancy by approximately 3.1 percent to 90.7 percent for the second quarter of 2016 from 87.6 percent in the second quarter of 2015.

• Increased same-store annualized rent per occupied square foot by approximately 7.2 percent to $13.29 for the second quarter of 2016 from $12.40 during the same period last year.

Key Highlights for the Six Months Ended June 30, 2016:

• Increased same-store revenues and NOI by 9.7 percent and 8.5 percent, respectively, for the six months ended June 30, 2016 compared to the six months ended June 30, 2015.

• Increased same-store average physical occupancy by approximately 2.2 percent to 90.5 percent for the six months ended June 30, 2016 from 88.3 percent for the six months ended June 30, 2015.

• Increased same-store annualized rent per occupied square foot by approximately 6.9 percent to $11.00 for the six months ended June 30, 2016 from $10.29 for the six months ended June 30, 2015.

The REIT has issued approximately 38.8 million class A shares and approximately 3.4 million class T shares for gross proceeds of approximately $388.6 million and approximately $33.4 million, respectively.

According to Summit Investment Research, the REIT covered 41 percent of its 5.35 percent distribution for its class A shares in the second quarter.

Strategic Storage Trust II, which focuses on acquiring stabilized, income producing self-storage properties, went effective in January 2014 and has raised $422 million in investor equity since inception. The REIT owns a portfolio of 64 operating self storage facilities located in 14 states and Toronto, Canada, that total 4.7 million rentable square feet.

For more Strategic Storage Trust II news, please visit their directory page here.