SROA Capital Targets $750M With Launch Of Fund X To Acquire Value-Add Self-Storage Assets

West Palm Beach-based SROA Capital, LLC announced the launch of SROA Capital Fund X, LP (together with its parallel vehicles, “Fund X” or the “Fund”), its latest value-add investment vehicle dedicated to self-storage.

SROA is targeting $750 million in capital commitments to Fund X and will continue SROA’s strategy of seeking to acquire under-managed and undercapitalized portfolios and individual assets with significant net operating income (“NOI”) growth potential, with the goals of unlocking value through SROA’s fully integrated platform, operational optimization initiatives, technology-enabled revenue management, and strategic capital improvements.

“We believe that the self-storage roll-up strategy continues to offer a compelling risk-adjusted return profile, supported by a highly fragmented ownership base, a growing user base, and a durable, income-oriented cash flow model,” said Benjamin S. Macfarland III, Chief Executive Officer and Co-Founder of SROA. “We expect that Fund X will allow us to continue executing the same disciplined, hands-on strategy that has defined SROA since our founding in 2013, while leveraging the scale and operating capabilities we’ve built over more than a decade.”

Fund X builds upon the successful close of SROA Capital Fund IX (together with its parallel vehicles, “Fund IX”), which raised more than $1.1 billion in total commitments, including co-investment capital, and exceeded its fundraising target. Fund IX attracted a diverse group of institutional and private investors, including public pensions, foundations, endowments, insurance companies, asset managers, RIAs, and family offices.

“The launch of Fund X follows a period of significant growth for our platform and strong support from our investor base,” said Owen Holm, Managing Director and Head of Investor Relations. “We are grateful for the continued support of our longstanding investors and look forward to partnering with existing and new limited partners as we execute on the opportunities we see across the self-storage landscape.”