Roundhouse Unveils Major Expansion Plans in Multifamily Sector
Roundhouse Expands Multifamily Housing Portfolio
Roundhouse, a renowned developer and operator in the multifamily housing sector, is making significant strides in its growth strategy. Backed by over $450 million in acquisitions and new development initiatives, the company is committed to enhancing its presence throughout the Western U.S.
Strategic Focus and Growth Milestones
In recent efforts, Roundhouse has successfully achieved over $300 million in acquisitions along with $150 million in groundbreaking developments just this year. This strategic focus targets high-growth markets, showcasing Roundhouse's commitment to providing high-quality housing options to a diverse range of residents.
Acquisition of New Properties
As part of its recent achievements, Roundhouse has made waves with the acquisition of notable properties, including Cycle Apartments in Fort Collins and Clovis Point in Longmont, Colorado. These two new acquisitions, comprising 613 units collectively, represent the company's entry into these bustling Northern Colorado markets, recognized for their significant population growth since 2010.
Groundbreaking Developments
Alongside its acquisitions, Roundhouse recently broke ground on two new apartment communities: Snowfarm in Missoula and Cloudveil in Idaho Falls. These projects are set to add a total of 1,530 Class A units to Roundhouse's portfolio, building on its already impressive roster of over 8,700 units across 56 properties in the region, valued at $2 billion.
Vision for the Future
Casey Lynch, the CEO of Roundhouse, expressed excitement about the company's direction, stating, "Our commitment to adapting to high-growth markets while ensuring that we offer quality housing remains steadfast. These new acquisitions and developments signify our dedication to this mission."
Team's Commitment to Success
Michael Caldwell, Managing Director of Investments, highlighted the team’s capability to capitalize on market opportunities as a key factor in their ongoing success. With this expanded portfolio, Roundhouse is better positioned to serve diverse communities across the Western U.S., continuing to uphold its ethos of a people-centric approach.
About Roundhouse
Roundhouse manages a diverse portfolio with more than 8,700 units under its management, focusing on a vertically integrated model that encompasses construction, property management, and investment. The company is dedicated to a mission of providing humane housing solutions that foster community engagement, innovative design, and environmental respect.
Frequently Asked Questions
What type of properties does Roundhouse focus on?
Roundhouse primarily focuses on multifamily housing properties, emphasizing Class A units in strategic growing markets.
How much is Roundhouse investing in acquisitions and developments?
Roundhouse is investing over $450 million in acquisitions and development projects this year, with significant amounts allocated to enhancing its existing portfolio.
Where are the new apartment communities located?
The new apartment communities, Snowfarm and Cloudveil, are located in Missoula and Idaho Falls respectively, regions seeing increased demand for quality housing.
What is Roundhouse's mission?
Roundhouse aims to put humanity into housing, focusing on community connection and thoughtful design that respects the environment.
Who leads the investment strategy at Roundhouse?
Michael Caldwell serves as the Managing Director of Investments, leading the firm’s strategic growth and development plans.
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