Garages of America Fund I

Partner with a Real Estate Developer

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For risks and disclosures, click here. 

Garages of America Fund I

Garages of America Fund I is raising up to $75,000,000 to develop properties we currently have under contract, have identified for development, and additional properties that meet our underwriting standards.

The Fund combines what we believe are highly sought-after real estate asset classes: Luxury Garages, Self-Storage, and Boat & RV-Storage. By uniting these asset classes into one portfolio, we expect to operate our cash flowing assets with less debt, seeking to reduce risk and provide greater cash flow to our investors, in each case as compared to investments in other assets classes.

Investing in our development fund simply has advantages “retail” funds cannot offer. The table below reflects projected returns of Garages of America Fund I.  Retail self-storage funds, that purchase existing properties, just can’t compete.

Properties Identified for Development

Tarpley II

Tarpley Rd

Carrollton, TX 75006

Frisco II

All Stars Ave

Frisco, TX 75034

Rockwall

Farm to Market Rd

Rockwall, TX 75032

The Fund Garages of America Fund I
Investment Strategy Develop, manage and sell luxury garage and self-storage assets across the U.S.
Early Investor Discount Yes
Projected Cash-on-Cash Return 8%-10% once portfolio reaches stabilization
Distribution Period Quarterly
Targeted Returns 30% annual blended return including profits from residual
Target Fund Size $75,000,000
Minimum Investment $500,000 Class A
$100,000 Class B
Offering Period January 2023 to December 2023
Projected Hold Period 7 – 10 Years
Acquisition Fee $100,000 per asset acquired
Development Fee 4% of capital expenditure budget if applicable
Investment Management Fee 1.5% of equity raised per year during first 2 years after end of Offering Period, 1% of equity raised per year thereafter (Quarterly, paid in advance)
Property Management Fee 6% of gross revenues of each project (Paid Monthly)
Guarantor Fee 1% of debt balance per year if debt guaranteed by sponsor or affiliate
Investment Structure • Class A member: 75% profit split on operating cash flow. Upon disposition, investor will receive 100% of cash flow until initial principal investment returned, then will receive 75% of profits thereafter.
• Class B member: 70% profit split on operating cash flow. Upon disposition, investor will receive 100% of cash flow until initial principal investment returned, then will receive 70% of profits thereafter.
Distribution From Capital Event • 100% of proceeds to investors (Class A & B Members) until they have received 100% of their principal investment.
• Thereafter, Investor/Manager - 75%/25% or 70%/30% depending on Class A or B Units.
Available to Qualified Retirement Plans No
Restrictions on Investment Size None

Business Model

Develop / Sell / Stabilize / Manage Cash Flow

Ready to Start Investing?

Ready to Start Investing?

Garages of America is NOT affiliated with Extra Space Storage.  An investment in any Garages of America fund is NOT an investment in Extra Space Storage.  We anticipate Extra Space Storage to continue to operate and manage properties developed by Garages of America and/or Cornerstone Development Corporation.