Kingdom Storage Holdings and Titan Wealth Group recently announced the successful sale of Mokena Self Storage in Mokena, IL, exceeding all expectations. Originally projected to be a 60-month project, the facility was sold in just 13 months, providing investors with an impressive 2.26x equity multiple and 118.4% internal rate of return.
Fernando Angelucci, President of Titan Wealth Group and CEO of Self Storage Syndicated Equities, expressed his excitement over the higher returns achieved by investors in such a short period of time, stating, “We’re thrilled that our investors were able to achieve higher returns than our 5-year projections in just over a year.” Angelucci also pointed out the advantage of selling the property to a buyer who will benefit from the strong rental market, making it a win-win situation for all parties involved.
Mokena Self Storage is a state-of-the-art facility featuring a 3-story, climate-controlled building with two single-story wings, resulting in 108,659 net rentable square feet and 939 storage units, solidifying its standing as an industry leader in design and functionality.
The successful sale was made possible through the partnership between Titan Wealth Group, Kingdom Holdings, LLC, and Pine Forest Development, LLC. The facility was sold for a remarkable $18,000,000 late last year. Scott Meyers, Founder and CEO of Kingdom Storage Partners and Self Storage Profits, Inc., expressed his excitement over the unprecedented returns realized by investors on this project.
For more information about these organizations, Please visit their websites at http://www.passivestorageinvesting.com and http://www.titanwealthgroup.com.
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