A&B Storage

Category
Current Portfolio
About This Project

Crystal View Capital Fund I, LLC is pleased to announce the acquisition of 20,345 sq ft consisting of 139 self-storage units located in Crescent City, CA. “This is a small, but very strategic investment for the fund – due to our existing self storage ownership in the Crescent City market, we will manage this new acquisition with our current management, which will substantially reduce costs. At a 10.8% cap rate and $70,000 of yearly Net Operating Income, 95% occupancy, and below market rents, this property will fit well into our portfolio. This purchase is a classic example of the sum of the whole being worth being more than the parts. Once operations are combined between two locations and a total of 600 units, the properties will yield higher cash flows and will attract more institutional buyers looking for scale, which we believe will result in a higher valuation upon re-sale.”

Deal Highlights

  • All cash purchase.
  • Purchased well-below replacement cost at $32 sq ft.
  • Located less than 1/10 a mile from the Pacific Ocean, and 1.3 miles from D & B Self Storage – the Funds’ flagship storage facility in Crescent City, CA.
  • Off-Market Deal.