Investment Overview

FreeUp Storage Mabank is a 64,005 rentable-square foot storage facility resting on two adjacent parcels encompassing approximately 5.11 acres in Mabank, Texas. Built in phases between 1977 and 1995, the facility is comprised of 559 non-climate units and 6 uncovered parking spaces. Additionally, features include wide concrete driveways, garage-style roll up doors, on-site manager’s office, perimeter fencing and lighting, and personalized key-pad gated entry. Mabank is situated approximately 35 miles southeast of Dallas next to Cedar Creek Lake, the fourth largest lake in Texas with over 320 miles of shoreline. Cedar Creek Lake is unique among Texas lakes because each of the small towns along the lake offer unique experiences, from camping, ATV riding, and aquatic activities, to golf and polo. FreeUp Storage Mabank benefits from its strategic location along State Highway 198, the area’s primary north-south thoroughfare connecting all of the major communities located on the eastern shores of Cedar Creek Lake. As a result, the facility has enjoyed strong historical physical occupancy rates between the mid-80 and low-90 percent range. Additionally, the submarket’s demographic and development trends suggest occupancies and rental rates should continue to grow, as significant commercial and residential developments are underway within a three-mile radius of the facility. Please see page 20 for more detailed information. Offered for $6,500,000, a new investor will be purchasing the stabilized asset for a 5.75 percent cap rate based on the seller’s trailing twelve-month net operating income. Furthermore, an increasingly-favorable capital markets environment (particularly in the CMBS and Life Insurance spaces), make this the perfect opportunity to raise rental rates and generate consistently steady returns throughout the hold period.