Acquisition is the largest self-storage transaction in Rosewood Property Company’s history
DALLAS (Jan. 11, 2022) – 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:
“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.