Maryland-based Strategic Storage Growth Trust II (SSGT II), a private REIT sponsored by an indirect subsidiary of SmartStop Self Storage REIT, has acquired a newly constructed self-storage facility in Toronto.
Financial terms were not disclosed.
Located at 1120 Dupont St., the 735-unit six-story facility comprises 47,000 net rentable square feet of self-storage units. The asset is situated roughly three miles from Toronto’s downtown core.
The property was completed this year and includes climate-controlled units, elevator access, drive-in loading area and video surveillance.
“We anticipate significant revenue growth that will be accretive to Strategic Storage Growth Trust II, from both the completion of lease-up and our revenue management platform,” said Michael Schwartz, founder and executive chairman for SSGT II. “We will continue to be heavily focused on acquiring and developing high-quality assets in the Toronto core, as well as throughout the
