Strategic Storage Trust IV, Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, announced that the REIT surpassed $50 million in aggregate subscriptions as of February 5, 2018. As a result of surpassing the $50 million requirement, the REIT may now accept subscriptions from investors residing in the Commonwealth of Pennsylvania
Strategic Storage Trust IV intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017 and is offering up to $1.0 billion in shares of its common stock in its primary offering, consisting of three classes of shares: Class A shares for $25.00 per share (up to $450 million in shares), Class T shares for $24.21 per share (up to $450 million in shares), and Class W shares for $22.75 per share (up to $100 million in shares).
Strategic Storage Trust IV's share classes are designed for and available to different categories of investors. All investors have the option to purchase Class A or Class T shares in the offering, while Class W shares are only available to investors purchasing through certain fee-based programs or registered investment advisors.
In addition, Strategic Storage Trust IV is offering up to $95 million in shares of its common stock pursuant to its distribution reinvestment plan at $23.75 per share for Class A shares, $23.00 per share for Class T shares and $22.75 per share for Class W shares.
Strategic Storage Trust IV intends to primarily invest in a portfolio of self storage assets consisting of both income-producing and growth properties located in the United States and Canada.
