We are pleased to inform you of the successful sale of the All Purpose Storage (APS) facility located in Benton, Maine. The sale was finalized on September 23, 2024, with a total sale price of $1,630,000.
This sale highlights our team's ability to drive strong returns through strategic management and capital improvements.
Transaction Overview:
- Acquisition Date: May 2022
- Acquisition Price: $1,250,000
- Sale Date: Sept 2024
- Sale Price: $1,630,000
- Equity Multiple (EM): 1.97x
- Internal Rate of Return (IRR): 38%
- Hold Period: 28 months
In total, the sale returned approximately $323,000 in capital to Fund II, generated approximately $220,000 in gross profit, and distributed $97,000 in cash flow over the 28-month hold period.
The Benton facility sale reflects our strong asset management and strategic improvements that drove the value of the asset.
Over the hold period, we implemented key operational changes, including capital improvements and enhanced marketing strategies that boosted NOI and increased the facility’s overall value.
Next Steps: Interested To Learn More or Invest In Commercial Real Estate?
If you would like to learn more about our Open Funds or invest in Commercial Real Estate please contact our investor relations team by completing the New Investor Form here (it will take less than 2 mins).
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