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Self-Storage Bird-In-Hand, PA Open Investment Opportunity

Snapshot

Location
Bird-In-Hand, PA
Property Type
Self-Storage
Total Project Cost
$2,008,750
Target COC ROI
12-18%
Target Total ROI
25-27% IRR
Target Equity Multiple
2-3
Equity Allocation
75/25% to Limited Partners
Preferred Return
7%
Raise Amount
$677,500
Minimum Investment - Existing
$25,000 (3.69%)
Minimum Investment - New
$50,000 (7.38%)
Capital Allocation
Equity + Financing
Hold Period
5-7 Years

Investment Overview

Hearthfire Holdings is pleased to present to qualified investors the opportunity to acquire an equity interest in the Bird-In-Hand Self Storage project. The acquisition is comprised of the acquisition and management of land and improvements of the Bird-In-Hand Self-Storage property in Bird-In-Hand, PA.

Property Profile

Bird-in-Hand Self Storage was built in several phases beginning in 1986 with the most recent, and final, phase added in 2001. The property features both traditional drive-up and interior access storage units totaling 20,889 NRSF. The combined 208 storage units and 35 parking spaces are rented from an on-site 800 SF office.

It is family owned and operated using a paper-based approach and no revenue management plan. There is significant upside in modernizing the operation to increase the economic occupancy and also potential to add additional storage units.

Value-Add Opportunity

  • Complete Technology Modernization
  • Implement Self-serve Kiosk and Call Center
  • Add Tenant Insurance and Retail
  • Convert Parking/Expand to Add Units
  • Facility Cosmetic Improvements

Investment Objectives

Target COC ROI
12 - 18% (by Yr 5)
Target Total ROI
25 - 27% IRR
Hold Period
5 - 7 years
This project is a value-add re-positioning with a target exit at 5-7 years or when financial objectives are met.

Investor Offering

Total Project cost
$2,008,750
Raise Amount
$677,500
Minimum Investment - New Investors
$50,000 (7.38%)
Minimum Investment - Previous Investors
$25,000 (3.69%)

Subscription Info

Reservation Accepted Deadline
May 10, 2019
Investor Funding Close Date
May , 2019
Acquisition Close Date
June 30, 2019

Request Reservation Today