Self-Storage Portfolio 4
Inland
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Investment Highlights
Overview
Inland Self Storage Portfolio 4 is an investment into 9 self storage properties. These properties are located in Amarillo, Plainview, and Lubbock Texas. The operator of these facilities is Metro Storage LLC, which is a privately held real estate company that specializes in self storage facilities.
- Year 1 Cash Flow 5.50%
- Initial Occupancy 77.54%
- Est. Time Horizon 10 years
- Yr 1. Cap Rate to Investors 5.54%
- Investor Purchase Price $58,255,741
- Total Offering Size $26,755,741
Loan Information
The loan is a total of $31,500,000 and is from Barclays Bank PLC. The term is for a total of 10 years with the first 5 years being interest only. When amortization begins it is based on a 30 year schedule. The interest rate is fixed at a rate of 4.93%.
- Yr. 1 DSCR 2.0
- Loan-to-Value 54.07%
- Hold Period DSCR 2.22
Key Benefits
N/A
Key Risks
The cap rate to investors is low (5.54%) and is lower than the average of comparable properties (6.41%).
The appraisal states that the local area is currently over supplied which may lead to the property occupancy and rental rates being negatively affected.
About Inland
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The Inland Real Estate Group of Companies, Inc. ("Inland"), is an industry leader and one of the nation's largest commercial real estate and finance organizations. As a business incubator, we specialize in creating, developing and supporting Inland member companies that provide commercial real estate-related services and alternative investment funds, including limited partnerships, institutional funds and non-listed and listed REITs.