Real estate investment platform CrowdStreet launched an equity investment offering for two boat and RV storage facilities. The facilities are located in Charlotte, N.C., and Nashville, Tenn.
The facilities offer a combined total of 545 parking and storage spaces. Investors potentially will receive quarterly distributions. When complete, the 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 due to growing demand for off-road vehicle storage driven by the skyrocketing boat and RV ownership rate.
Madison Capital Group is the sponsor of the development and has extensive experience in this sector, operating seven RV/boat storage facilities in four states with a stabilized occupancy rate of 95%.
The full-service private equity real estate investment and development firm focuses on the multifamily, retail, self-storage and boat and RV storage sectors. The group has more than $2.4 billion in assets under management and total portfolio activity above $3.12 billion.
The minimum investment for the Boat & RV Storage Preferred Equity Development is $25,000 and is open to investors on CrowdStreet.