{"id":1004148757,"date":"2016-07-26T09:06:00","date_gmt":"2016-07-26T17:06:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148757"},"modified":"2021-05-14T21:10:07","modified_gmt":"2021-05-15T05:10:07","slug":"ssgt-reaches-50-million-equity-mark","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ssgt-reaches-50-million-equity-mark\/","title":{"rendered":"SSGT Reaches $50 Million Equity Mark"},"content":{"rendered":"

By Adriana Pop<\/em><\/p>\n

Ladera Ranch, Calif.<\/strong>\u2014Strategic Storage Growth Trust<\/a>\u00a0(SSGT), which is sponsored by SmartStop Asset Management LLC<\/a>, has raised more than $50 million in capital from investors across the U.S., and is now accepting investments from Pennsylvania residents. While most states require a relatively small amount of investor funds be held in escrow (e.g. $1.5 million), Pennsylvania has a formulaic escrow requirement based on the maximum offering amount, which resulted in a $50 million escrow for SSGT. For this reason, SSGT has not permitted investments by Pennsylvania residents in its offering until now.<\/p>\n

\"SSGT<\/a>

SSGT Reaches $50 Million Equity Mark<\/p><\/div>\n

\u201cWe are pleased to have reached the $50 million equity mark so that interested investors from Pennsylvania can now participate,\u201d Michael Schwartz, SSGT chairman & CEO, said in prepared remarks.<\/p>\n

SSGT is a public, non-traded REIT that focuses on the acquisition, development, redevelopment and lease-up of self-storage properties<\/a>. The SSGT portfolio currently consists of 14 operating self-storage facilities located in seven states comprising approximately 9,300 self-storage units and\u00a0approximately 1,100,000 net rentable square feet of storage space.<\/p>\n

The REIT has recently closed on its first \u201ccertificate of occupancy\u201d transaction<\/a> for a newly-constructed self-storage facility. The project is situated in the South Mountain Village area of Phoenix<\/a> and totals approximately 94,000 net rentable square feet and 840 units.<\/p>\n

Image courtesy of SmartStop Asset Management<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Strategic Storage Growth Trust can now accept investments from Pennsylvania residents. <\/p>\n","protected":false},"author":260,"featured_media":1004148759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21742,10,15],"tags":[],"class_list":["post-1004148757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-latest","category-northeast","category-west"],"acf":[],"yoast_head":"\nSSGT Reaches $50 Million Equity Mark - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ssgt-reaches-50-million-equity-mark\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SSGT Reaches $50 Million Equity Mark\" \/>\n<meta property=\"og:description\" content=\"Strategic Storage Growth Trust can now accept investments from Pennsylvania residents.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ssgt-reaches-50-million-equity-mark\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-26T17:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T05:10:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SSGT-Reaches-50-Million-Equity-Mark.png\" \/>\n\t<meta property=\"og:image:width\" content=\"916\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"SSGT Reaches $50 Million Equity Mark\",\"datePublished\":\"2016-07-26T17:06:00+00:00\",\"dateModified\":\"2021-05-15T05:10:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/\"},\"wordCount\":228,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/SSGT-Reaches-50-Million-Equity-Mark.png\",\"articleSection\":[\"Finance\",\"Investment\",\"News\",\"Northeast\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ssgt-reaches-50-million-equity-mark\\\/\",\"name\":\"SSGT Reaches $50 Million Equity Mark - 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