The total acquisition cost was $4 million
May 28, 2014- Virtus Real Estate Capital has paid $2.17 million for self-storage in Rogers and $1.62 million for facility in Bentonville. They will be named as Rogers Self Storage and Bentonville Storage, respectively.
"We're excited to be establishing a solid footprint with these two self-storage acquisitions in a region we feel will continue to see economic growth across a number of different industries and undergo consistent population increases," said Virtus Acquisitions Director Scott Humphreys.
The private real estate firm Virtus Real Estate Capital has bought the facilities in Arkansas through a joint venture with Absolute Storage Management (ASM), a real estate owner and operator.
Virtus Real Estate Capital was founded in 2003. It is based in Austin and has acquired over $2 billion of commercial real estate across the nation.
Absolute Storage Management (ASM) was founded in 2002 and it offers third-party management services in the southeastern United States.
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