Rosewood Property Acquires Three Self-Storage Facilities in the Southwest
The acquisition marks Rosewood’s continued presence in the Southwest region
Rosewood Property Company recently acquired three self-storage facilities in various Southwest cities, including Vista, California, Tempe, Arizona and Las Vegas. These acquisitions bring the company’s total to 82 self-storage facilities across the nation.
The Vista property, located at 1317 N. Melrose Dr., is a 120,000-square-foot facility, while the Tempe property is a 62,000-square-foot facility located at 1964 E. University Dr, down the street from the Arizona State University campus. Extra Space Storage will serve as the properties’ management company.
The Las Vegas property is located at 3755 N. Las Vegas Blvd, next to Smith’s grocery store, and includes 37,000 square feet. CubeSmart will serve as the property management company for this facility.
“We are excited to grow our presence in the Southwest with this acquisition of three stabilized facilities,” said Brandon Cooke, Vice President of Acquisitions, Rosewood Property Company. “We continue to look for attractive opportunities to enhance our portfolio despite the challenging macro environment.”
“We began acquiring self-storage assets in 2012, and it has been an incredible growth story ever since. We now have a significant portfolio across the Southwest region,” said Rick Perdue, President of Rosewood Property Company. “We remain excited about the self-storage market and hope to continue growing our presence both regionally and nationally.”
Rosewood Property Company’s self-storage program possesses the ability to close quickly because of the firm’s access to direct internal capital. This acquisition brings Rosewood’s total acquired self-storage facility square footage to 6.4 million across 25 states.
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 office, multifamily, industrial, self-storage, and land assets. For more information, please visit www.rosewoodproperty.com.