SROA Capital has closed SROA Capital Fund VIII with $650 million in commitments. The fund is the firm's largest to date, and it closed oversubscribed, significantly surpassing the original target capital raise of $500 million. The fund will focus on self-storage investment.

The fund has already purchased 123 self-storage facilities totaling more than 7.2 million square feet in 26 transactions. It plans to deploy the remaining capital over the next 12 months. SROA already has a portfolio of 310 facilities across 23 states, making them one the largest private owner-operators of self-storage.

A diverse round up of real estate investors, including public and private pensions, insurance companies, foundations, global asset managers, wealth managers, and family offices in North America, Latin America and Europe, invested in the fund. In addition, SROA raised $200 million from limited partners for co-investments alongside Fund VIII.