DALLAS--(BUSINESS WIRE)--Rosewood Property Company acquired 16 self-storage facilities across 12 states from Extra Space Storage, expanding its presence in new and existing markets throughout the nation. The deal includes roughly 12,000 units equaling approximately 1.3 million net rentable square feet of space.
“Rosewood is constantly on the hunt 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 throughout Texas and the Midwest, while diversifying our presence into new markets across the Southeast. This is the largest acquisition in Rosewood’s history, and we plan to continue the momentum into 2022.”
Extra Space Storage will serve as the property management company for a majority of the acquired facilities.
While most of the acquisition is traditional storage offerings, a portion of the facilities offer a variety of high-quality options including climate-controlled interiors, drive-up capabilities and covered outdoor parking for recreation vehicles 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 2nd 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 Highway, 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 Texas Self-Storage Association Board Member. “The industry moves quickly, and we are able to remain nimble and move on 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 the procurement of the financing.
With these 16 facilities acquisitions, Rosewood Property Company now owns a portfolio of 73 operating self-storage projects across 21 states totaling more than 5.8 million square feet and approximately 44,500 storage units. Rosewood remains focused on actively building its self-storage portfolio, through acquisition, expansions and strategic development.
About Rosewood Property Company
Rosewood Property Company is the Dallas-based real estate investment vehicle for The Rosewood Corporation, which is wholly owned by the Caroline Hunt Trust Estate. Rosewood Property Company and its affiliates have an extensive portfolio, including investments in land, office, industrial, self-storage, and multifamily assets, as well as investments in the equity securities of private real estate investment companies. For more information, visit www.rosewoodproperty.com.