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STORAGE
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Ladera Ranch’s Strategic Storage Trust turns one

The non-traded Real Estate Investment Trust focused solely on self-storage has grown to more than 3,000 units.

By Susan BelknappPublished: March 23, 2009 02:30 PM

Strategic Storage Trust Inc. (SSTI), based in Ladera Ranch, celebrated its one-year anniversary on Friday, March 20. The company is a publicly registered ($1 billion of common stock registered), non-traded Real Estate Investment Trust (REIT) with a portfolio that currently includes more than 3,024 self-storage units with 407,000 rentable square feet of storage space.

Over the past year, SSTI has acquired six high-profile self-storage facilities located in prime markets throughout the United States.

“We are delighted with our progress in the last year, given the challenging economic climate and turbulent credit markets,” says H. Michael Schwartz, chairman and CEO of SSTI. “Self storage is an industry which has historically exhibited recession resistant traits, and the story resonates with investors looking for alternatives to a volatile stock market.”

Last month, SSTI formed two strategic alliances with Centershift STORE and Penske Truck Rental.  Centershift is the industry leader in self-storage rental management software, which will be used to manage SSTI’s entire network of facilities nationwide. See the full ocmetro.com article here.

PAGE TWO
 
Ladera Ranch’s Strategic Storage drives business with Penske
Strategic Storage Plus closes purchase in Virginia
“OC METRO Minute,” March 16: Bethany Holdings lets go of apartment complexes
“OC METRO Minute,” March 12: Western National Property Management begins Layoff Protection Program