Mainstay Global closed its Self-Storage Fund II with nearly $28MM co-invested into unmanned storage facilities
Austin, TX, July 9, 2020. Mainstay Global LLC is pleased to announce that on June 30, 2020, MG Self Storage Fund II (“the Fund II”) closed successfully with total capital raised over $27.5 million co-invested into unmanned self-storage facilities. The Fund II is closing ahead of schedule due to extremely high demand for its investment strategy which has demonstrated a robust recession-resistant performance.
By the end of June 2020, the Fund II portfolio now consists of 21 self-storage facilities with 6,493 total self-storage units, and a total portfolio value of the Fund II holdings of $58.5 million. This is in addition to the Fund I holdings of 8 facilities with 2058 units, excluding the 2 facilities dis-positioned at average of 60% IRR, which had an additional combined 679 units.
MG Self Storage Fund (including the Fund I and Fund II) are real estate private investment offerings focusing on acquisition of self-storage units. The overall strategy is to acquire self-storage facilities from mom and pop operators (which are the vast majority of self-storage operations in the country; and to renovate them with standardized process and efficiency; then to convert them to unmanned operation using technology unique to the Funds’ sponsor.
Self-storage is generally considered to be a recession-resistant business, and during the COVID-19 pandemic triggered recession, this investment strategy has demonstrated the robust performance, that precisely highlighted its recession resistant features.
The Fund I’s capital raising closed successfully in December 2018. As of this writing, both the Fund I and Fund II realized a steady 8.0%+ annualized distribution during its quarterly dividend distribution schedule.
Mainstay Global plans to launch the Fund III in January, 2021.
In the current period, the Fund II retains limited numbers of transferable units, which can be obtained with the authorization of the fund manager, only for qualified investors If you are returning investor of Mainstay Global, or interested in this particular private offer for the first time, please contact us to find out if you are qualified, and obtain more information on the offering.
Website: http://www.mainstayglobal.com/self-storage
Email: fund@mainstayglobal.com
Hotline: (512) 578 9310