BIRMINGHAM, AL / ACCESSWIRE / October 30, 2024 / Leitbox Portfolio Partners Fund II ("Fund II") proudly announces the acquisition of a new property in the Dallas MSA, marking a strategic expansion that promises significant value-added opportunities. This purchase follows Fund II's successful disposition of its Winston-Salem asset to an institutional investor, which exceeded targeted returns.
"Coming off a great win with the sale of Winston-Salem, we are excited to acquire another property with a similar value-added strategy but even more upside," said Bill Leitner, founder and principal of Leitbox Storage Partners, LLC.
Acquired below replacement cost, the property is in a densely populated area with limited competing supply. Fund II plans to capitalize on this advantage by introducing professional management practices and a robust revenue management program to optimize asset performance. Additionally, the property has the potential for revenue growth by finalizing its lease-up and adjusting in-place rates to align with market standards.
"This is a win-win for our investors," Leitner continued, "as we've achieved above-guidance returns on the Winston-Salem asset while immediately deploying resources into this high-potential acquisition in Dallas, helping us strive to keep capital working effectively."
This acquisition aligns with Leitbox Storage Partners' focus on identifying value-added properties in strategic markets and underscores Fund II's commitment to delivering exceptional outcomes for investors.
For more information about Leitbox Portfolio Partners and its investment opportunities, please visit Leitbox.com.
About Leitbox Storage Partners
Leitbox Storage Partners ("Leitbox") is a real estate investment company that develops and acquires self-storage (often with mixed use and retail integration) in primary and secondary markets throughout the United States. In addition to programmatic, greenfield development of vertical self-storage, Leitbox utilizes its 30+ year history in the retail and mixed-use sectors to identify and acquire retail, big-box conversion opportunities and income-producing, storage facilities presenting value-add upside potential.
Contact Information
Shantelle Dedicke
Frances Roy Agency
shantelle@francesroy.com
3076317644
SOURCE: Leitbox Storage Partners
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