Crystal View Capital Fund III Refinances Tennessee Storage Portfolio with a 6.53% Fixed Interest Rate

We are pleased to announce the successful refinancing of our Tennessee storage portfolio. The original $15 million loan has been replaced with a new $23 million loan at a fixed interest rate of 6.53%. This strategic move allows us to achieve substantial savings.

This 11-site storage portfolio consists of approximately 2,500 storage and parking units. Since acquisition, we have executed on several initiatives to increase the value of the asset:

By consistently analyzing the market to optimize rents based on demand, we achieved a 15% increase in the portfolio's storage charge, generating approximately $5.9 million in value at a 6.5% cap rate.

• Implementing tenant insurance across our storage portfolio has generated ancillary income, resulting in an added value of approximately $3.2 million at a 6.5% cap rate.

• We enhanced the overall portfolio by executing various repairs and upgrades such as new gates systems and improving the general curb appeal, which has elevated the tenant experience.

• As a result of our in-house asset management team's efforts, we have achieve a 26% increase in total revenue and 9% increase in NOI.

Crystal View Capital is actively raising capital for its fourth fund, Crystal View Capital Fund IV, LP with a target raise of $200 million. Presently, Fund IV has over $20 million in assets consisting of mobile home communities and self-storage facilities in its acquisition pipeline.

For those interested in investing, reach out to our team at invest@crystalviewcapital.com. Know of someone who would like to receive these emails? Forward this message. They can subscribe here.