Featured Projects

Knoxville – Deane Hill

GSF 93,000 . NRSF 715 . LTC 80%

Boiling Springs

GSF 65,000 . NRSF 57,865 . Units 450

Knoxville – Dutchtown

GSF 90,000 . NRSF 71,808 . Units 667

Homestead – Princeton

GSF 110,000 . NRSF 84,263 . Units 958

Featured Projects

Project Spotlight – Knoxville – Deane Hill

Project Name

Deane Hill Storage

Location

6410 Deane Hill Dr

City, State

Knoxville, TN

Status

Operating – Sold

Type

Ground-Up

Total GSF

93,000

NRSF

715 Projected Cost

$8.5 MM

Actual Cost

$8.2 MM

LTC

80%

Loan Amount

$6.855 MM

Equity Amount

$1.7 MM

Land Purchase

Sep 2019

Construction Start

April 2020

Opening Date

Feb 2021

Sale Date

Sep 2022

Land Purchase

Sep 2019

Sale Price

$15.5 MM

Net Proceeds

$8.8 MM

Buyer

Extra Space Storage

Achieved IRR

67%

Equity Multiple

3.72X

Project Spotlight – Boiling Springs

Project Name

Boiling Springs Storage

Location

1909 Boiling Springs Rd

City, State

Boiling Springs, SC

Status

Operating – Sold

Type

Value-Add Expansion

Total GSF

65,000

NRSF w/Parking

57,865

Units w/Parking

450 Expansion

12,500

Expansion w/Parking

84,100

Expansion Units

78 Acquisition Cost

$ 6.3 MM

Expansion Cost

$ 0.61 MM

Total Cost

$ 6.91 MM

Equity

$ 2.1 MM

Acquisition Date

Jun 2021

Sale Date

Jun 2023

Sale Price

$ 10.7 MM

Net Proceeds

$ 6 MM

Buyer

Private

Achieved IRR

64%

Equity Multiple

2.7X

Project Spotlight – Knoxville – Dutchtown

Project Name

Knoxville – Dutchtown

Location

10308 Dutchtown Rd

City, State

Knoxville, TN

Status

Operating – Lease-Up

Type

Ground-Up Development

GSF

90,000

NRSF

71,808

Units

667 Const Start

Apr 2023

C/O

Apr 2024

Land Cost

$ 1.1 MM

Land Purchase Date

Jun 2022

Total Cost

$ 11.97 MM

Project Spotlight – Homestead – Princeton

Project Name

Homestead – Princeton

Location

23815 S Dixie Hwy

City, State

Homestead, FL

Status

Operating – Lease-Up

Type

Ground-Up Development

GSF

110,000

NRSF

84,263

Units

958 Const Start

Jun 2023

C/O

Feb 2025

Land Cost

$ 3.575 MM

Land Purchase Date

May 2022

Total Cost

$ 19.74 MM

Project Spotlight

Red Balloon Storage is actively managed by the persons below with a significant amount of input from its advisors who have a combined 30+ years developing, constructing, & operating self storage facilities.

Project Stage:

Gross sq. ft.: 93,000

Units: 715

Operator: SAM

Project Stage:

Gross sq. ft.: 84,100

Units: 550

Operator: Extra Space

Project Stage: Leasing

Gross sq. ft.: 110,199

Units: 816

Operator: Extra Space

Project Stage: Leasing

Gross sq. ft.: 117,331

Units: 1,195

Operator: SpaceShop

Project Stage:

Gross sq. ft.: 93,000

Units: 715

Operator: SAM

Project Stage:

Gross sq. ft.: 84,100

Units: 550

Operator: Extra Space

Project Stage: Leasing

Gross sq. ft.: 110,199

Units: 816

Operator: Extra Space

Project Stage: Leasing

Gross sq. ft.: 117,331

Units: 1,195

Operator: SpaceShop