Strategic Storage Trust Aligns with DST Systems

Strategic Storage Trust, Inc. (SSTI), a publicly registered ($1 billion of common stock registered) non-traded REIT targeting the self storage industry, has completed the transition to a new transfer agent.

DST Systems, Inc. will handle the processing of new accounts, ongoing recordkeeping, transfers, tax reporting, account statement and distribution processing and other reporting for all of its real estate investment programs. Based in Kansas City, Mo., DST Systems is an information processing and computer software company servicing the financial services industry.

“When we began our transfer agent search, DST clearly stood out at as the industry leader,” said H. Michael Schwartz, SSTI’s chairman and CEO. “The company’s advancements in technology and stringent attention to security issues were also key components to our decision. Representatives can now access SSTI client information through DST Vision(R), a web-based system that provides intermediaries with real time access to client information on a consolidated program across product platforms, including other non-traded REITs and mutual funds.”

“SSTI has experienced significant growth since the business launched two years ago, and its recordkeeping needs have evolved. We’re proud to be able to offer a full suite of solutions — including access to DST Vision to support SSTI’s distribution needs and AWD, our business process management offering, to streamline its business processes,” said Tom Schmidt, vice president, DST Systems. “We look forward to helping SSTI achieve further business expansion.”

SSTI is continuing its focus as one of the leading purchasers of self storage properties across the United States in conjunction with a nationwide branding initiative which began in the fourth quarter of 2010. The non-traded REIT’s current portfolio has expanded to include 26 properties in 14 states.

Add comment February 23rd, 2010