Tyler Longview Portfoltio
Texas
The Tyler/Longview portfolio represents 232,963 rentable-square feet of storage in 1,837 units divided between four separate facilities in the East Texas cities of Tyler and Longview. The properties encompass approximately 13 acres resting on 13 individual parcels.
At a combined purchase price of $8,000,000 Spartan is purchasing the portfolio below replacement cost (only $32.96 per rentable-square foot) for a broker-adjusted 6.52 percent cap rate. We plan to implement operational improvements allowing us to raise rents over a two year period by approximately 17% across the portfolio as well as expanding Metro Self Storage with climate-controlled units.
The current owner had little to no commercial real estate experience prior to inheriting the properties from his father, and as an out-of-state owner living in California, he has utilized a somewhat hands-off management approach wherein on-site managers have a significant amount of discretion as far as day-to-day operational strategy is concerned. Consequently, a preference has been given to higher occupancy instead of maximizing revenue via continuous rental rate increases - the properties have been marketed to potential tenants as the low-cost leader in the marketplace.
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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 Tyler Longview Portfolio.
The minimum investment is $50,000 and is open to accredited investors.
THE TYLER LONGVIEW OFFERING
Tyler Longview Portfolio, LLC is currently raising $4,000,000 for equity positions in the company. The minimum investment is either one Class A unit for $50,000 for a 0.60% equity stake, one Class B unit for $50,000 for a 0.63% equity stake, or one Class C unit for $500,000 for a 7.20% equity stake.
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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