RealtyMogul & Platinum Storage Group Announced the Completion of American Mini’s Full Cycle Equity Transaction

On Monday, RealtyMogul, the online marketplace for real estate investing,  announced  the completion of its first full cycle equity transaction with the purchase and sale of American Mini, a self-storage property in Tucson, Arizona. In just 18 months, investors earned an annual total return of 16.8 percent. This was done with the help of partner, Platinum Storage Group

Jilliene-Helman-199x300Jilliene Helman, CEO of RealtyMogul, stated:

“We have been excited about self-storage facilities as one of our investment thesis for some time as self-storage facilities have become big business; one out of ten American households currently rents a storage unit. Last year storage rentals generated more than $22 billion in annual revenue. To be able to provide this rate of return in a relatively short amount of time is a great accomplishment to have achieved with our partners – Platinum Storage Group.”

Skip Elefante, CEO of Platinum Storage, explained:

Skip Elefante“We are always pleased to deliver significant returns to our investors. Our management team was able to execute the business plan while refining it in the face of changing market conditions, which resulted in achieving such extraordinary results within a short time. RealtyMogul was a strong partner for us as we worked together to realize our vision for this property and its enhanced market value.”

The property was purchased at the end of May 2014 for $1,725,000 and sold for $2.5 million in early November, with a 45 percent increase in capital value. It was originally built in 1998 and renovated in 2005 and is a 53,401 square-foot facility with 458 storage units, and approximately 60 stalls for RV and boat long-term parking.

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