LOS ANGELES--(BUSINESS WIRE)--RealtyMogul.com, the online marketplace for real estate investing, proudly announces the completion of its first full cycle equity transaction with the purchase and sale of American Mini, a self-storage property in Tucson, Arizona. In just 18 months, investors earned an annual total return of 16.8 percent.
“We have been excited about self-storage facilities as one of our investment thesis for some time as self-storage facilities have become big business; one out of ten American households currently rents a storage unit. Last year storage rentals generated more than $22 billion in annual revenue,” said Jilliene Helman, CEO of RealtyMogul.com. “To be able to provide this rate of return in a relatively short amount of time is a great accomplishment to have achieved with our partners – Platinum Storage Group.”
"We are always pleased to deliver significant returns to our investors," said Skip Elefante, CEO of Platinum Storage. "Our management team was able to execute the business plan while refining it in the face of changing market conditions, which resulted in achieving such extraordinary results within a short time. RealtyMogul.com was a strong partner for us as we worked together to realize our vision for this property and its enhanced market value."
The property was purchased at the end of May 2014 for $1,725,000 and sold for $2.5 million in early November, with a 45 percent increase in capital value.
The self-storage property was originally built in 1998 and renovated in 2005 and is a 53,401 square-foot facility with 458 storage units, and approximately 60 stalls for RV and boat long-term parking.
About RealtyMogul.com
RealtyMogul.com is an online capital marketplace for real estate, connecting borrowers and sponsors to capital from accredited and institutional investors. Through an online platform, RealtyMogul.com gives borrowers access to debt capital, sponsors access to equity capital and investors tools to browse investments, perform due diligence and invest online. RealtyMogul.com offers bridge loans, permanent loans and joint venture equity. For more information, please visit www.realtymogul.com.
RealtyMogul.com offers equity securities through North Capital Private Securities Corp., registered broker/dealer and member FINRA/SIPC.
