DALLAS – (BUSINESS WIRE) – January 11, 2022–
Rosewood Real Estate Company acquired 16 self-storage facilities in 12 states from Extra Space Storage, expanding its presence in new and existing markets across the country. The agreement includes approximately 12,000 units representing approximately 1.3 million net rentable square feet of space.
“Rosewood is constantly on the lookout for the right opportunities to expand its national self-storage portfolio,” said Rick Perdue, president of Rosewood Property Company. “This acquisition strengthens our presence in existing markets in Texas and the Midwest, while diversifying our presence in new markets in the Southeast. This is the largest acquisition in Rosewood’s history, and we plan to build on this momentum through 2022. ”
Extra Space Storage will serve as the property management company for the majority of the acquired facilities.
While most of the acquisitions are traditional storage offerings, part of the facility offers a variety of high-quality options, including air-conditioned interiors, driving capabilities, and covered outdoor parking for RVs and boats. The 16 self-storage facilities are located at:
- 1242 N Dean Road, Auburn, Alabama 36830
- 1412 Opelika Road, Auburn, Alabama 36830
- 215 Gold Star Highway, Groton, Connecticut 06340
- 17531 NW 2 nd Avenue, Miami, Florida 33169
- 1406 Capital Circle NE, Tallahassee, Florida 32308
- 2364 Tobacco Road, Augusta, Georgia 30906
- 355 Fry Road, Greenwood, Indiana 46142
- 6708 Preston Hwy, Louisville, Kentucky 40219
- 1742 Pass Road, Biloxi, Mississippi 39531
- 14300 E Frontage Road, Grandview, Missouri 64030
- 201 Eubank Boulevard SE, Albuquerque, New Mexico 87123
- 950 Cherry Street, Kent, Ohio 44240
- 8850 Rivers Avenue, North Charleston, South Carolina 29406
- 10617 Fuqua Street, Houston, Texas 77089
- 1289 FM518, Kemah, Texas 77565
- 990 Alta Mere Drive, Fort Worth, Texas. 76116
“This is an exciting time for Rosewood Property Company as we take the self-storage portfolio to the next level,” said Matt Janes, Director of Self-Storage for Rosewood Property and a member of the Texas Self Board of Directors. -Storage Association. “The industry is changing rapidly and we are able to remain nimble and seize opportunities in our target markets. We look forward to making even more acquisition announcements in early 2022. ”
Extra Space was represented by Newmark Group, Inc. (NASDAQ: NMRK). The Newmark team was led by Aaron Swerdlin, Kenneth Cox and Taucha Hogue. Rosewood was represented by Jim Davies, Erich Pryor and Tom Sherlock of Talonvest Capital, Inc. in securing the financing.
With these 16 facility acquisitions, Rosewood Property Company now has a portfolio of 73 self-storage projects in operation in 21 states totaling over 5.8 million square feet and approximately 44,500 storage units. Rosewood remains focused on actively building its self-storage portfolio, through acquisitions, expansions and strategic developments.
About Rosewood Property Company
Rosewood Property Company is the Dallas-based real estate investment vehicle for The Rosewood Corporation, which is 100% owned by Caroline Hunt Trust Estate. Rosewood Property Company and its affiliates have a broad portfolio, comprising investments in land, office, industrial, self-service and multi-family storage assets, as well as investments in equity securities of companies from private real estate investment. For more information visit www.rosewoodproperty.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220111005906/en/
CONTACT: Media contact for the Rosewood property:
Sydney Townsend; [email protected]; 469-547-0201
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SOURCE: Rosewood Real Estate Company
Copyright Business Wire 2022.
PUB: 01/11/2022 12: 03 / DISC: 01/11/2022 12:03 PM
Copyright Business Wire 2022.