Mini U Storage Potomac Yard
ELEVATION CAPITAL GROUP ANNOUNCES THE ACQUISITION OF OAKVILLE SELF STORAGE IN ALEXANDRIA, VIRGINIA BY ELEVATION FUND 8, LLC.
ORLANDO, Fla., Sept. 15, 2022 /PRNewswire/ -- Orlando-based real estate investment company, Elevation Capital Group, and its affiliates, ("Elevation") has announced that Elevation Fund 8 ("Fund 8"), has successfully completed the acquisition of Oakville Self Storage located across from Potomac Yard in Alexandria, Virginia.
Oakville Self Storage, which has since been rebranded as Mini U Storage Potomac Yard, was Fund 8's second acquisition and furthers Elevation's overall footprint in the Washington, DC metropolitan area.
Mini U Storage Potomac Yard is strategically located in the path of National Landing, Northern Virginia's fastest growing submarket, which includes Amazon HQ2 and Virginia Tech's Innovation Campus. The surrounding area also encompasses Crystal City, Pentagon City and Potomac Yard, as well as Ronald Reagan Washington National Airport and the Pentagon.
"Mini U Storage Potomac Yard is a good addition to our growing portfolio of properties and extends our reach into the Washington, D.C. metro area," said Ryan Smith, principal at Elevation Capital Group. "This acquisition fits our model due to its excellent location and the ability to add value over time. As those who live locally can attest, an extensive renovation has already begun. We look forward to serving our customers with an improved experience for years to come."
The maximum offering amount for Elevation Fund 8 is set at $100 million by the Managers and has already received commitments in excess of $70 million.
Elevation is a respected leader in the alternative real estate investment arena. The company focuses exclusively on two niche property types: Manufactured Housing Communities and Self Storage facilities. Elevation, the manager of Fund 8, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states.
This is neither an offer to sell securities nor a solicitation of an offer to buy securities.
Such an offer may only be made through the offering's memorandum to qualified purchasers. Any investment in Elevation's programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this fund is not indicative of future results of other funds.
SOURCE Elevation Capital Group