Crystal View Capital focuses on the acquisition and management of income producing commercial real estate nationwide. The Fund identifies strategic sub-markets for acquisitions where fundamentals are strong, there is positive job growth, and rents are trending upward. Our core business model is under-performing properties with a specialized focus on retail, office, self-storage, and mobile home communities which can be purchased at a fair price and have the potential to be worth significantly more within a 1-5 year holding period.
2017 was a breakthrough year for the partnership. Through the 3rd quarter of this year we have earned $871,330 in Net Income on Gross Rental Income of $2,501,073, reflecting strong underlying performance across our properties. At the present time the Fund is fully subscribed ($10mm in equity raised) and closed to new investors.
Management has engaged ValuCorp appraisal services to appraise the individual property valuations, the portfolio’s Net Asset Value (NAV), and the current Class B share value. The results demonstrated in this Portfolio Performance Summary have been verified by Michael Gilburd, an accredited Senior Appraiser and President of ValuCorp. As of this writing (based on ValuCorp’s appraisal(s)), we have $47,451,420 in assets (marked to a market value) in our portfolio, a net asset value “NAV” of $27,730,819, and an estimated Class B share value of $51,118. The $27,313 increase in per share value represents an average annual Internal Rate of Return of 87.1% for Class B shareholders.
Over the next 12 months, we are planning to monetize several of our “matured investments” via divestitures and through cash out financings of properties. As a result, we will be making meaningful distribution(s) to the shareholders on a pro rata basis in the near term. We still plan to hold a sizeable portion of our portfolio which will provide strong free cash flows to us over the long term. We remain committed to being a “value – oriented” asset manager, and investing capital for you in high quality, simple to understand assets which earn a solid cash return on equity, while emphasizing downside protection for the capital employed. The primary objective of the company continues to be maximizing shareholder value via generating increased cash flows and un-locking value in our portfolio properties , as a result, higher intrinsic value per share and larger distributions.