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Rosewood Property Acquires 16 Self-Storage Facilities from Extra Space to Expand Presence Across US.

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MANews-(C)2009-2022

Dallas-based real estate investment company Rosewood Property company has acquired 16 self-storage facilities across 12 states from Extra Space Storage, expanding its presence in new and existing markets throughout the nation, the company said.

Terms of the transaction were not disclosed.

The deal includes roughly 12,000 units equaling approximately 1.3m net rentable square feet of space. 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.

Extra Space Storage will serve as the property management company for a majority of the acquired facilities.

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...

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