Roundhouse Continues Strategic Growth with Over $450 Million in Acquisitions and Development Groundbreakings in 2024
Multifamily Developer/Operator Adds 1,530 Class A Units to its Expanding Western U.S. Footprint
BOISE, Idaho, Sept. 11, 2024 /PRNewswire/ -- Roundhouse, a vertically-integrated developer and operator of multifamily housing headquartered in Boise, ID, today announced significant expansion and growth milestones across the Western U.S., including over $300 million in acquisitions and $150 million in development groundbreakings year-to-date.
"Roundhouse is committed to providing high-quality housing options across the Western U.S.," said Casey Lynch, CEO of Roundhouse. "Our recent acquisitions and developments are the result of our strategic focus on high-growth markets and our dedication to building and operating a diverse multifamily portfolio over the long term."
Roundhouse has recently acquired Cycle Apartments in Fort Collins, Colorado and Clovis Point in Longmont, Colorado. The two acquisitions, totaling 613 units, mark Roundhouse's first investments in these Northern Colorado markets, which have exhibited strong in-migration since 2010. Walker & Dunlop served as the brokerage firm for both deals.
Additionally, Roundhouse has purchased Eagle's Landing Apartments in Idaho Falls, brokered by Institutional Property Advisors (IPA), and Sentral First Hill in Seattle, brokered by Eastdil Secured. The company also recently celebrated the groundbreaking of two new apartment communities: Snowfarm in Missoula, MT and Cloudveil in Idaho Falls, ID. These developments are set to begin delivering units next year and, together with recent acquisitions, will add a total of 1,530 units to Roundhouse's portfolio, further solidifying its presence across the Western U.S.
"We're excited about the opportunities these new acquisitions and developments represent for our platform, partners, and team members," said Michael Caldwell, Managing Director, Investments at Roundhouse. "Our ability to identify and capitalize on opportunities in all market environments is a key driver of our success, and we look forward to continuing to add high-quality properties to our portfolio across the Western U.S."
ABOUT ROUNDHOUSE
Roundhouse manages a portfolio with more than 8,700 units across 56 properties and $2 billion of assets in the Western U.S., with a vertically integrated platform that spans the construction, property management, and investment disciplines. Roundhouse's mission is to put humanity into housing with a people-centric approach to the resident experience that emphasizes connection with the community, thoughtful design, and respect for the environment. To learn more about Roundhouse and its portfolio, visit rndhouse.com.
Contact: Sarah Cullen
sarah@sidecarpr.com
720-726-6823
View original content to download multimedia: https://www.prnewswire.com/news-releases/roundhouse-continues-strategic-growth-with-over-450-million-in-acquisitions-and-development-groundbreakings-in-2024-302244679.html
SOURCE Roundhouse
