Real estate investment platform CrowdStreet launched an equity investment offering for two boat and RV storage facilities in metropolitan Charlotte, North Carolina, and Nashville, Tennessee.
The ground-up development of two storage facilities will offer a combined total of 545 parking and storage spaces. Investors potentially will receive quarterly distributions. When construction is complete, both properties will undergo a 14-month lease-up period, with project stabilization expected in the third quarter of 2024.
Madison Capital Group LLC pursued this venture because of the growing demand for off-road vehicle storage driven by the skyrocketing boat and RV ownership rate. According to a study by Go RVing, RV sales spiked by 33% in 2021, and the 2022 results are expected to reflect record sales numbers again. ...
Full story available on Benzinga.com
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The ground-up development of two storage facilities will offer a combined total of 545 parking and storage spaces. Investors potentially will receive quarterly distributions. When construction is complete, both properties will undergo a 14-month lease-up period, with project stabilization expected in the third quarter of 2024.
Madison Capital Group LLC pursued this venture because of the growing demand for off-road vehicle storage driven by the skyrocketing boat and RV ownership rate. According to a study by Go RVing, RV sales spiked by 33% in 2021, and the 2022 results are expected to reflect record sales numbers again. ...
Full story available on Benzinga.com
Continue reading...