TORONTO, Feb. 4, 2021 /CNW/ -- Strategic Storage Trust
IV, Inc. ("SST IV"), a public non-traded real estate
investment trust sponsored by an affiliate of SmartStop Self
Storage REIT, Inc. ("SmartStop" or the "Company), today
announced the opening of a newly
constructed self storage facility in Vaughan, Ontario, Canada in partnership with
SmartCentres (TSX: SRU.UN). This is SmartStop's
16th owned or managed location in the Greater Toronto Area (GTA), and
150th property in North
America.
The ground-up, four-storey development is located at 50 Cityview
Blvd in the Vaughan community.
This prime location provides direct visibility from Highway 400,
which links the City of Toronto in
the south with the central and northern regions of the province.
This facility serves the communities of Maple, Woodbridge, Kleinburg, Weston
Downs, Mackenzie Ridge Ambassador
Hills, Columbus Trail and
Vellore and is conveniently located adjacent to the SmartCentres
Vaughan shopping centre, The Home Depot and the Walmart
Supercentre. The property's 1,050 units are 100% climate-controlled
across approximately 103,000 square feet. The property offers
customers a variety of amenities including state-of-the-art
security systems, elevators, keypad access, a gated loading area
and more.
"We are thrilled to open the third ground up SmartStop
development in partnership with SmartCentres in the Greater Toronto Area," said H. Michael Schwartz, Executive Chairman of
SmartStop. "With its favourable demographics and supply
constraints, the GTA is arguably the most attractive self storage
market in North America and serves
as a significant opportunity for further growth and expansion for
SmartStop. SmartCentres' great locations and our joint
understanding of the needs of the local community have allowed us
to develop a facility designed to meet the needs of customers and
businesses in this market in years to come."
"With three facilities now opened and operating and an extensive
pipeline of future locations, our partnership with SmartStop shows
great promise across our network in Canada," said Mitchell
Goldhar, Executive Chairman, SmartCentres. "Our strategic
real estate and SmartStop's expertise in self storage management is
proving a potent combination for rapid growth for both SmartStop
and SmartCentres."
About SmartStop Self Storage REIT, Inc.
(SmartStop)
SmartStop is a self-managed REIT with a fully integrated operations
team of approximately 390 self storage professionals
focused on growing the SmartStop® Self Storage brand. SmartStop,
through its indirect subsidiary SmartStop REIT Advisors, LLC, also
sponsors other self storage programs, including Strategic
Storage Trust IV, Inc., a public non-traded REIT, and other private
programs. SmartStop is the tenth-largest self
storage company in the U.S., with approximately $1.7 billion of real estate assets under
management, including an owned and managed portfolio
of 150 properties in 19 states and Toronto, Canada and
comprising approximately 101,000 units and 11.5 million
rentable square feet. SmartStop and its affiliates own or
manage 16 operating self storage properties in the Greater Toronto Area, which total
approximately 13,300 units and 1.4 million rentable square feet.
Additional information regarding SmartStop is available
at www.smartstopselfstorage.com.
About Strategic Storage Trust IV, Inc. (SST IV)
SST
IV is a public non-traded REIT that focuses on the acquisition of
stabilized and growth self storage properties. SST IV wholly owns
24 self storage facilities comprising approximately 18,000 self
storage units and 2 million net rentable square feet of storage
space, as well as three operating properties in joint ventures in
the Greater Toronto Area with
SmartCentres.
About SmartCentres
SmartCentres Real Estate
Investment Trust is one of Canada's largest fully integrated REITs, with
a best-in-class portfolio featuring 166 strategically located
properties in communities across the country.
SmartCentres has $10.4 billion in
assets and owns 33.8 million square feet of income producing
value-oriented retail space with 97.4% occupancy, on 3,500 acres of
owned land across Canada.
SmartCentres continues to focus on enhancing the lives of
Canadians by planning and developing complete, connected, mixed-use
communities on its existing retail properties. Project 512, a
publicly announced $12 billion
intensification program ($5.4 billion
at SmartCentres' share), represents the REIT's current major
development focus on which construction is expected to commence in
the next five years. This intensification program consists of
rental apartments, condos, seniors' residences and hotels, to be
developed under the SmartLiving banner, and retail, office, and
storage facilities, to be developed under the SmartCentres
banner.
SmartCentres' intensification program is expected to produce an
additional 59.3 million square feet (27.9 million square feet at
SmartCentres' share) of space, 27.1 million square feet (12.3
million square feet at SmartCentres' share) of which has or will
commence construction within the next five years. From shopping
centres to city centres, SmartCentres is uniquely positioned to
reshape the Canadian urban and urban-suburban landscape. For
more information, visit www.smartcentres.com.
SOURCE Strategic Storage Trust IV, Inc.
