ROSEWOOD PROPERTY COMPANY ACQUIRES FIVE STORAGE FACILITIES
Oct 17, 2017 | Press Release
For Immediate Release
Rosewood Property Company Acquires Five Storage Facilities
More Than $100 Million in New Storage Facilities Acquired Since Mid-2016 in Multiple Markets
DALLAS – October 17, 2017 -- Rosewood Property Company announced today it has acquired five new self-storage properties in major markets nationwide. The specific locations will be identified pending legal and governmental approvals.
Since mid-2016, Rosewood has acquired properties in Austin, Indianapolis and Seattle/Tacoma MSA’s as well as in Southern California totaling more than $100 million. The projects, totaling 625,000 rentable square feet and over 5,700 units, range from new self-storage facilities to existing facilities which will benefit from significant value-add capital improvements.
The company has aggressively expanded in the self-storage market increasing its ranking significantly. One national publication noted Rosewood Property moving from number 57 to the 35th largest operator of self-storage in the United States.
"The markets in which we made these latest acquisitions were all target markets for our portfolio and represent important additions to our expanding presence in the self-storage sector,” said Bill Flaherty, president of Rosewood Property.
“The facilities, which include new, multi-story climate control facilities and existing traditional drive-up facilities also containing climate control units, were all locally owned and are well located,” noted Flaherty. “It was time for the ownership of those facilities to monetize their investments. Rosewood Property Company is a knowledgeable buyer which had completed extensive market research and provided a predictable and fully qualified exit for those partnerships.”
Rosewood Property Company currently owns a portfolio of 41 operating self-storage projects in 11 states totaling more than 3.15 million rentable square feet and over 25,000 storage units. In addition, RPC is also developing new multi-story self-storage projects in Denver and Portland and is expanding and investing in certain existing properties to maximize revenue and value.
“We continue to focus on additional acquisitions, in multiple targeted markets, as well as maximizing the value of our existing properties through active management,” Flaherty added.
About Rosewood Property Company
Rosewood Property Company, based in Dallas, is a wholly owned subsidiary of The Rosewood Corporation. Rosewood Property Company and its affiliates have an extensive portfolio, including investments in office, multifamily, industrial, self-storage, and land assets, as well as investments in the equity securities of public and private real estate investment companies. For more information, please visit www.rosewoodproperty.com