It’s hard to believe it’s been just over a year since we started working on our self-storage facility project in Fultondale, Alabama. In just a year we have learned SO much. Plus, we’ve talked to countless experts and professionals, created new partnerships, and expanded our networks. And yet, the time has FLOWN by! And we are so excited to present our self-storage investment opportunity to the right investors!
To put together an opportunity like this, it takes a lot of groundwork preparation. To investors, I always want to tell them that it’s not just about finding something to buy and throwing money at it. It takes a lot of time and effort to get to this point. Most of all, we want our investors to ask the tough questions and see if this opportunity fits their goals.
How This Self-Storage Investment Project Came Together
Finding the property was actually an organic process that came from prior relationships and networks on past opportunities.
Even still, we did so much. Here are some examples:
- completing the zoning and entitlement process
- conducting environmental studies and surveys
- drawing up budgets and proposals
- seeking lenders
- building our property management team
- consulting engineers and architects, risk strategists and plenty more
Now, FINALLY, we are at the cusp of breaking ground. And we’re excited to offer the opportunity for investors to invest in a 700 unit, 104,000 gross square foot self-storage facility in the Birmingham, Alabama metro area. The property is located next to a busy 4-lane highway, and we are geared up and ready to go with all the appropriate permits and zoning in place.
Here are the highlights
Good Growth Market
Birmingham has steady growth and shows no signs of slowing down. The area has low unemployment, above average household incomes and steady population growth. The micro-market of Fultondale is a great growth area, as well.
Barriers to competition
Our project is the only one approved in the area – there are no other projects in the pipeline nor are there any approvals for such. Plus, adjacent cities have put a halt on further construction of self-storage because storage doesn’t provide retail sales tax.
The managing members have combined experience in multiple successful properties around the country. Furthermore, one joint venture partner has focused exclusively on self storage since 2005 and has been involved in properties approaching $300 million in total value.
State of the Art Design and management
We are partnering with a management team that will maximize operating income and investor returns by minimizing personnel and management costs.
Risk Mitigation Strategy
Our project is being developed in phases. This will therefore reduce debt burden and risk, hence increasing returns. Even better, it has a great loan to cost ratio.
Multiple Exit Strategies
The current plan is to hold for 5 years to achieve the targeted 19.7% returns. However, national operators have discussed purchasing after certificate of occupancy which could boost returns even further.
- Accredited Investors Only
- $100,000 Minimum for phase I
- 5 year anticipated hold
- Phase II capital call to fund that phase
This opportunity is for Accredited Investors only.
To learn more about our Fultondale opportunity, here is the link to our recent webinar about the project: https://register.gotowebinar.com/recording/3389107554231271949
I also encourage you to take a look at our project brochure here, which is more succinct than the webinar and includes every detail of this opportunity.
To read our past blogs about self-storage, click here.
Want to learn more about self-storage and other investment opportunities?
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Contact us here to find out more!