SROA Capital LLC, which operates the Storage Rentals of America brand, has closed its ninth and largest self-storage acquisition fund, SROA Capital Fund IX, with $1.1 billion in commitments, surpassing its goal of $750 million. The company raised $865 million in direct commitments and $250 million in co-investment capital, according to a press release.
To date, the fund has closed 18 self-storage transactions across 25 states, bringing its total to 284 properties and 13.5 million rentable square feet. SROA expects to deploy the remaining capital over the next 12 months, the release stated.
Up to 15% of capital from the fund will be used for originating senior bridge loans, mezzanine loans and preferred-equity investments to self-storage developers and operators. SROA completed its first close for Fund IX in June 2023, after securing $230 million. The firm announced a $50 million commitment from the Ohio Bureau of Workers Compensation in August.
Related:Self-Storage Real Estate Acquisitions and Sales: February 2026
“The close of Fund IX demonstrates the confidence our investors have in our strategy, platform and team," said CEO and founder Benjamin S. Macfarland III. “Fund IX is well-positioned to capitalize on what we view as an exceptional buying opportunity as we enter a new real estate cycle. We appreciate the trust our limited partners have placed in SROA, and we intend to build upon our decade-plus long track record of providing strong risk-adjusted returns. We remain focused on deploying this capital into the attractive opportunities we are seeing in the self-storage sector.”
“We are truly grateful for the continued support of our long-standing partners and new investors, including public pensions, foundations, endowments, insurance companies, asset managers, [registered investment advisors] and family offices,” said Owen Holm, managing director and head of investor relations. "The success of this fundraise is a testament to the dedication, discipline and hard work of our experienced team.”
Based in West Palm Beach, Florida, SROA is a real estate investment company focused on the acquisition and operation of self-storage properties nationwide. It owns and operates more than 31 million square feet at more than 680 properties across 32 states, primarily in the Midwest, Northeast and Southeast.
Source: Access Newswire, SROA Capital Fund IX Surpasses Target Raising over $1.1 Billion in Total Commitments
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