SSTI Drops $80M For Storage Sites In Ga., Fla.

Law360, New York (January 4, 2012, 4:53 PM EST) -- Strategic Storage Trust Inc., a real estate investment trust and one of the nation's biggest owners of self-storage units, has paid $80 million for nearly a million square feet of storage units in Georgia and Florida, the company revealed Wednesday.

The REIT bought 10 properties in Georgia — all within 30 miles of downtown Atlanta — and two in Florida, by far its biggest acquisition to date and bringing its 2011 spending total to nearly $240 million, regulatory filings show.

The sellers are special-purpose subsidiaries of...
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