The experienced self-storage sponsor aims to
raise $23 million for new 506(c)
offering.
DAYTONA
BEACH, Fla., July 9, 2024
/PRNewswire/ -- SAFStor, one of the nation's largest developers of
Class A self-storage, announced today the launch of its latest
Regulation D 506(c) offering, SAFHarbor Opportunity Fund, LLC. The
Fund intends to raise $23 million from accredited investors for the
development of three self-storage facilities in strategic locations
across the United States.
The Fund plans to develop its Gen-V self-storage facility at the
following three sites:
- An approximately 3.0-acre site located in Morrisville, Pennsylvania to be developed into
an 861-unit self-storage facility.
- An approximately 1.8-acre vacant land site located in
El Paso, Texas to be developed
into a 795-unit self-storage facility.
- An approximately 1.8-acre site located in Danbury, Connecticut to be developed into a
692-unit self-storage facility.
On each site, the Fund seeks to develop institutional quality,
fifth-generation self-storage facilities. The facilities will
average approximately 103,000 gross square feet and will be 100%
climate-controlled storage units with additional amenities such as
controlled gate access and video surveillance. Location operations
will be conducted by leading, national brand managers CubeSmart and
Extra Space Storage.
"We are excited to launch SAFHarbor Opportunity Fund, LLC," said
Andrew Young, SAFStor's CEO and
co-founder. "Self-storage is a historically resilient asset class
that offers a variety of potential benefits. Given our team's
extensive experience and relationships, we believe we may offer our
partners and investors a unique opportunity in an often-overlooked
space."
Each site will be owned by the Fund through a joint venture with
SAFStor SH Holdings, LLC (the sole member of the Fund's manager)
with the goal of preserving and growing investors capital through
the development, operation, and sale of the self-storage
facilities. The Fund is targeting a 10% preferred return and a
three-to-eight-year hold. The Fund has an investment minimum of
$50,000.
In addition to its responsibilities to partners and investors,
SAFStor integrates community-focused initiatives into each
development project. These commitments include utilizing low-impact
designs, allocating storage units for families experiencing
hardship, and in some cases hosting a police substation to help
enhance neighborhood safety.
SAFHarbor Opportunity Fund, LLC is just the latest offering from
the experienced team at SAFStor. Together, the firm's principals
have more than 75 years of industry experience and more than
$1.1 billion in developed
self-storage assets. The firm has launched 62 projects nationwide
with 31 going full-cycle.
To learn more about SAFStor and SAFHarbor Opportunity Fund, LLC,
please visit www.safharborfund.com or call 614.973.9830.
About SAFStor
Founded in 2017, SAFStor is a vertically
integrated, volume-driven developer and owner of
institutional-quality self-storage. With over 3.3 million square
feet in construction and operation, and an annual development
pipeline of 1.2 million square feet, the company focuses on
mitigating market and development risk through the use of a proven,
data-driven approach and by partnering with leading management
partners such as Extra Space Storage and CubeSmart. SAFStor's
principals have more than 75 years of in-depth real estate
experience and have developed more than $1.1
billion in self-storage assets.
Securities offered through Chauner Securities, Inc. member
FINRA/SIPC. Chauner Securities and SAFHarbor Asset Management LLC
are not affiliated.
Contact: Rebecca Cleary
Spotlight Marketing Communications
(949) 427-1462
rebecca@spotlightmarcom.com
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SOURCE SAFStor