SROA Capital Expands Bridge Financing Program for Self-Storage Industry

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WEST PALM BEACH, FL / ACCESSWIRE / June 7, 2023 / SROA Capital ("SROA"), a vertically integrated real estate investment and technology company focused on investing in self-storage, has completed the first closing of its ninth flagship fund, SROA Capital Fund IX ("Fund IX") this April. Up to 15% of the Fund will be focused on originating senior bridge loans, mezzanine loans and preferred equity investments to self-storage developers and operators.

"We are looking for investment opportunities across the capital stack in self-storage. SROA is excited to continue to expand its credit investing prowess to its broader investor base having round-tripped nearly $100MM in credit strategy with strong returns over the past 5 years," said SROA Capital CEO Benjamin S. Macfarland, III. "The turmoil in the banking sector and volatility in the interest rate environment should be well received in the market by developers and operators seeking flexible bridge capital that can move quickly to help them weather the storm."

SROA is well-positioned to deploy capital in new deals. Having hosted the first close in April, SROA Capital Fund IX secured $230 million of capital commitments against its $750 million target fund size. Seventy-five percent of the capital commitments came from re-up investors including insurance companies, foundations, health systems and single/multi-family offices. The firm's investor base is composed of a diverse group of leading real estate investors, including public and private pensions, insurance companies, foundations, global asset managers, wealth managers and family offices.

"To have closed on a third of our target on first close is a very encouraging start to our Fund IX fundraising," said Owen Holm, Managing Director of Investor Relations at SROA Capital. SROA expects to host two more closes this calendar year and anticipates a final close to take place next year.

About SROA Capital, LLC
SROA Capital, LLC is a vertically integrated real estate investment and technology company focused on investing in self-storage properties nationwide. SROA Capital owns and operates over 18 million rentable square feet under the brand Storage Rentals of America. For more information, please visit www.sroacapital.com or contact a member of the Investor Relations team at [email protected].