By james art
BIRMINGHAM, Ala., October 30, 2024 (Newswire.com) –
Leitbox Portfolio Partners Fund II (“Fund II”) is proud to announce the acquisition of a new property in the Dallas MSA, marking a strategic expansion that promises significant value-add opportunities. This purchase follows Fund II’s successful disposition of its Winston-Salem asset to an institutional investor, which exceeded its target return.
“After achieving a great win with the sale of Winston-Salem, we are excited to acquire another property with a similar value-add strategy, but with even greater benefit,” 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 competitive supply. Fund II plans to capitalize on this advantage by implementing professional management practices and a robust income management program to optimize asset performance. In addition, the property has potential for revenue growth by finalizing its leases and adjusting on-site pricing to align with market standards.
“This is a win-win for our investors,” Leitner continued, “as we achieved a return on top of Winston-Salem’s oriented assets while immediately deploying resources to this high-potential acquisition in Dallas, which helps us strive to keep capital working efficiently .”
This acquisition is consistent with Leitbox Storage Partners’ focus on identifying value-add properties in strategic markets and underscores Fund II’s commitment to delivering exceptional results 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, green vertical self-storage development, Leitbox leverages its 30+ year history in the retail and mixed-use sectors to identify and acquire opportunities for retail conversion, big box and income-producing warehouse facilities presenting added value rising potential.
Source: Leitbox Storage Partners