FreeUp Storage Eustis Portfolio
Florida
Join Spartan Investment Group for a ground-up opportunity in Eustis, Florida, where we have secured the last local parcel of land available for storage.
Lake County, the site of our new facility, is experiencing explosive growth, with more than 1,350 residential units coming online within one mile of our location. Average rents for storage in the area have reached over
$20 PSF, around 65% higher than the national average. Local facilities are 94% occupied, and unmet demand for storage exceeds 300,000 square feet.
Our site is one of the last land parcels available for self-storage in Eustis — and the only one located on this section of the highway. As a result, our fully entitled project is positioned to be the sole solution to the area's growing need for storage.
The business plan calls for the ground-up development of a 76,200 square foot, 606-unit self-storage facility. Construction is planned to begin in June of 2024 and delivery of the climate-controlled facility is scheduled for Q1 of 2025. Spartan will operate and lease the facility under its FreeUp Storage National Brand.
The projected hold period is 6 years with projected annualized returns of 18.7% to 22.4%. The facility is projected to stabilize and begin monthly distributions in year 3 and sell in year 6 of the investment. With high
demand and limited building opportunities in the local market, FreeUp Storage Eustis is poised to deliver both short-term gains and long-term value.
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Superior Location
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Residential Growth
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Asset Quality
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Market Strength
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Strong Income
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Stabilized Assets
Spartan Investment Group is Currently Raising Capital for FreeUp Storage Eustis Portfolio
Class A members are those who invest a minimum of $50k.
Class B members are those who invest a minimum of $1,000,000. Both member classes will receive the benefit of bonus depreciation in 2021.
Class B members are those who invest a minimum of $1,000,000. Both member classes will receive the benefit of bonus depreciation in 2021.
THE FREEUP STORAGE EUSTIS OFFERING
FreeUp Storage Eustis Portfolio is currently raising $11,698,000 in equity.
The minimum investment is $50,000. For Class A equity investors, the target annual return is 16.5% with a total return of 65.9% while for Class B equity investors, the target annual return is 19.1% with a total return of 76.5% based on a four year hold.
Equity investors also receive the benefit of bonus depreciation and a 7.0% preferred return.
The minimum investment is $50,000. For Class A equity investors, the target annual return is 16.5% with a total return of 65.9% while for Class B equity investors, the target annual return is 19.1% with a total return of 76.5% based on a four year hold.
Equity investors also receive the benefit of bonus depreciation and a 7.0% preferred return.
This offering is being made under Rule 506(C) of the Securities Act of 1933. Accredited Investors are welcome to participate.
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Spartan Investment Group, LLC and should not be made available to any other person or entity without the written consent of Spartan Investment Group, LLC. This offering memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the offering property. No warranty or representations, express or implied, are made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, or other conditions. The information is provided as of the date of the publication of this offering memorandum. These securities have not been approved or disapproved by the Securities and Exchange Commission nor has the Commission passed upon the accuracy or adequacy of this memorandum. Any representation to the contrary is a criminal offense.
The information in this offering is available to “accredited investors” only, as defined by Rule 501 of Regulation D of the Securities Act of 1933, and is furnished for your use as a potential investor in the company. By receiving this memorandum, you agree to not transmit, reproduce, or make this memorandum or any related exhibits or documents available to any other person or entity. Your failure to keep this memorandum strictly confidential may cause the company to incur actual damages of an indeterminable amount, possibly subjecting you to legal liability.
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