Property

The Keep Storage at Vance Jackson San Antonio, TX

Property
Type
Self-Storage
Investment Type
Property
Asset Profile
Opportunistic
Min. Investment
$25K
Estimated Hold
4-5Y
Target Return (IRR)
19.6%
Target Annual Cash
12.9%
Target Equity Multiple
2.3x
 

Offered By

Casey Development, Ltd.
Experienced Sponsor

San Antonio, TX

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Assets Under
Management

Currently
$125MM
Exited
$325MM
Portfolio LTV
0%
Historical
Realized Returns

Total IRR
26.8%
Equity Multiple
2.2x
Annual Cash
10%
Years Of
Experience

As Principals
30+ years
In Business
25 years
Size
12 Staff
* All information is reported by Casey Development, Ltd. as of 1/26/2017.
 

About this Property

The Keep Storage at Vance Jackson ("The Keep-VJ") is a to be built 116,000 square foot climate controlled Class "A" self-storage facility located in the north central submarket of San Antonio, Texas. The property will consist of 645 units totaling almost 87,000 square feet of rentable storage space. Existing facilities in the area maintain an average occupancy of 98% and enjoy some of the highest rental rates in San Antonio.

Casey Development is offering investors an opportunity to participate as a limited partner in this development venture. Equity investors are conservatively projected to receive an IRR of 19.6% over the projected hold period and a cash on cash return of 12.9%.

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Key Points

  • New development opportunity in a high-barrier to entry, infill location
  • Submarket enjoys some of the highest rental rates in San Antonio
  • Independent feasibility study projects residual self-storage space demand of 214,600 square feet and The Keep-VJ will be 87,000 RSF
  • Amenities include on-site office, full security system with closed circuit visual monitoring, two levels of drive-up access and individual door alarms
  • Casey Development has a proven track record of developing properties and achieving IRRs to investors in excess of 26%
 

Financials

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Location Details

San Antonio, TX

The Keep-VJ is located just outside Loop 410 off Vance Jackson Rd in the north central submarket of San Antonio, Texas. The property is surrounded by 27,000 households within a 2 mile radius and also provides easy access to Loop 410 and commercial customers. Over 250,000 cars travel along Loop 410 and Vance Jackson every day.
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Documents

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Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

The first projected distribution is scheduled for May 2019.

Distributions are scheduled to go out on a quarterly basis.

Yes, non-US residents are welcome to apply.

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Have a Question?

Send Casey Development, Ltd. and/or RealCrowd a message. If you have a question about this offering ask Casey Development, Ltd.. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.

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In the meantime, please review the offering documents and financials.

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