BB&T Capital Markets Serves as Exclusive Financial Advisor to Wando Park Self Storage in its Sale to Strategic Storage Growth Trust, Inc.
On July 17, 2017, JCM Landtrust, LLC, (d/b/a Wando Park Self Storage) (“Wando”), completed a sale of its 500-unit, newly constructed self storage facility located in the Charleston, South Carolina suburb of Mt. Pleasant to Strategic Storage Growth Trust, Inc. (“SSGT”). BB&T Capital Markets served as the exclusive financial advisor to Wando.
About the Companies
Located in Mt. Pleasant, South Carolina, JCM Landtrust owned and operated a newly constructed, 500-unit, climate-controlled self storage facility totaling approximately 48,000 rentable square feet.
Strategic Storage Growth Trust, Inc. is a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, that focuses on the acquisition, development, redevelopment and lease-up of self storage properties. The SSGT portfolio currently consists of 20 operating self storage facilities located in nine states comprising approximately 12,900 self storage units and approximately 1.5 million net rentable square feet of storage space.
SmartStop is a diversified real estate company focused on self storage assets, along with student and senior housing. SmartStop has a managed portfolio that currently includes more than 68,000 self storage units and 7.9 million net rentable square feet and approximately $1.3 billion of real estate assets under management. SmartStop is the asset manager for 109 self storage facilities located throughout the United States and Toronto, Canada and two student housing facilities. SmartStop is the sponsor of Strategic Storage Trust II, Inc., SSGT and Strategic Storage Trust IV, Inc., all public non-traded REITs focusing on self storage assets.
Our Real Estate Group is led by an experienced banking team focused on serving the broad needs of the Real Estate Investment Trust (REIT), commercial real estate and hospitality sectors. Through our extensive industry connections and in-house retail and institutional distribution capabilities, our clients gain access to the broadest markets—as well as the balance sheet strength and resources of one of the nation's strongest financial institutions.
Our corporate and investment bankers are experts in all aspects of the commercial real estate sector and provide a comprehensive suite of capital markets solutions ranging from corporate lending, equity and debt underwriting and merger and acquisition advisory. This unique teaming enables us to serve clients with financing options that are optimized for their specific needs, and each stage of their development.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.