STRATEGIC STORAGE TRUST ACQUIRES THREE SELF-STORAGE PROPERTIES

CINCINNATI — Strategic Storage Trust Inc. has acquired three Best Self-Storage properties located in northern Kentucky within the greater metro area of Cincinnati. The 211,000-square-foot portfolio, which was purchased for $9.9 million, houses 1,295 storage units. The three properties include:
• A 72,000-square-foot, 434-unit property, which is situated on an approximately 7.5-acre site in Walton, Ky. Occupancy is currently at 81 percent.
• A 57,200-square-foot, 344-unit property, which is situated on a 2.6-acre site in Crescent Springs, Ky. Occupancy is at 87 percent.
• An 81,800-square-foot, 517-unit property, which is situated on approximately 7 acres in Florence, Ky. Occupancy is at 93 percent.
The portfolio purchase was funded in part by two seller-financed promissory notes. The notes bear a fixed interest rate of 5 percent per annum during the initial 3 years of their 5-year terms, and 6 percent per annum during the final 2 years.