April 11, 2017 – West Palm Beach-based Elite Stor Capital Partners today announced they have changed the name of the company, now known as SROA Capital, LLC. With a rapidly growing portfolio of self-storage properties across the Unites States, the change more closely connects with company’s consumer-facing brand, Storage Rentals of America. SROA Capital is a vertically-integrated self-storage operator focused on acquiring, developing and selectively redeveloping undermanaged facilities in select growth markets throughout the U.S.
“Our company has grown exponentially over the past few years as we acquired undervalued properties, and we felt this was the right time to more closely align our corporate identity with our consumer-facing brand,” said co-founder and CEO Benjamin Macfarland. “We are identifying opportunistic investments a highly-fragmented, undercapitalized and undermanaged industry which is prime for consolidation. We fully expect our acquisition rate to continue on its current growth track,” he added.
SROA Capital has recently more than doubled its footprint to nearly 3-million square feet, with a total of 57 properties containing 22,000 individual storage units. The industry is prime for consolidation, as the top ten storage companies only control 15% of the facilities in the market. In addition, many markets remain undersupplied with rental facilities, so growth of new facilities is expected to continue.