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Pilot Equity Partners, LLC has a proven and impressive track record of creating value and
providing substantial returns through outstanding research, dedicated professional management,
and experience in the industry.
A-Alvernon Mini Storage
A-Alvernon Mini Storage, located in Tucson Arizona is a
well located self storage facility comprised of 415
non-climate controlled units with concrete block and
metal construct. It was acquired in August 2002 for a
purchase price of $1,150,000. Strong management and an
excellent location were the driving factors for building
strong occupancy and income growth. On August 10, 2005
A-Alvernon was sold for $2,150,000 which equates to an
87% capital profit.
Folly Road Self Storage
Folly Road Self Storage located in Charleston, South Carolina is comprised of 34,850 SF and was
purchased fully leased in March of 2004 at a 10% capitalization rate. Extensive due diligence revealed
that at the time of the acquisition that the Purchase Price was substantially discounted below the going
market rates for similar state-of-the-art facilities. Folly Road’s
prime location also supported the argument that the Seller was
under-pricing the facility. As a result of decreasing
capitalization rates and increasing gross collections, the value of
Folly Road Self Storage has escalated since its acquisition. The
current market in South Carolina for quality self storage
facilities represents a 7% capitalization rate which translates
into a sales price of $3,900,000 a 50% increase within two
years.
Hollytree Self Storage
Hollytree Self Storage is a Class A mini storage facility
located in Tyler, Texas. The first phase of construction
comprised of 23,700 square feet of rentable space was
completed in January 2001. Construction of the second
phase of 28,000 square feet was completed in December
2004, which more than doubled the size and resulted in
reducing occupancy to 48%. Hollytree Storage was
acquired in April 2005 for a Purchase Price of
$2,600,000, it was 49% occupied, and was generating an
average monthly gross income of $20,000. Through superior management and an aggressive lease-up strategy, Hollytree Storage is now 83% occupied and is averaging $33,000 per month in gross collected income. Using current market standards, the increase in income has resulted in an approximate overall value of $3,500,000 or an increase of 34% in 13 months.
Gilbert Road Storage
Gilbert Road Storage’ a 695 unit storage facility located in Gilbert, Arizona, which was acquired in September 2005. Upon the closing of the acquisition, the facility was 65% occupied and generating a monthly gross income of approximately $26,000. Through strong management and an aggressive lease-up strategy, occupancy has increased to 90% and the expected gross income per month is now $40,000. Using current market standards, this rise in income and occupancy has increased the value of this project $1,688,000 or 64% in less than one year.
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