• Acquired a facility in Santee, SC in October 2017 for $1.9MM
• Completed a cash out refinance in October 2018 at 3.8X appraised value from 12 months prior
• Initial Investment: $500K – Withdrew $2.2MM upon refinancing
• Exited January 2020 at $5.8MM
• >7x total cash on cash ROI

Increased facility rent roll from $82K upon acquisition to $158K 12-months later.