June 6, 201 – SROA Capital, LLC, a West Palm Beach-based self-storage investment and management firm, announces the appointment of Robert Buffett as Chief Financial Officer (CFO). Buffett is responsible for the financial reporting, banking, insurance, and finance functions of the company, which operates the Storage Rentals of America brand. He has extensive experience in the self-storage industry, including 11 years as the Chief Financial Officer of Stor-All Storage. His experience will be pivotal as SROA continues to attract large institutional investors.
“As we look to expand our property base across the country, Bob’s expertise will help us to control costs and increase efficiency,” said SROA Capital CEO Benjamin Macfarland. “Along with the addition of SROA Capital President and CTO Rob Consalvo earlier this year, we have built a management team with extensive industry expertise which can help lead us through our rapid growth plan. Bob is committed to a continuous analysis and control of cost centers to drive efficiency and cost savings.”
Buffett earned his bachelor’s and master’s degrees in Accounting from the University of Florida.
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.