ATLANTA, Dec. 23, 2024 -- Mitra Investment Partners ("Mitra"), an emerging private real estate investment firm, announces the completion of the acquisition of Thornapple Self Storage, located at 3451 North M-37 Hwy, Middleville, MI. This addition to the Mitra Diversified Fund I portfolio underscores the firm's ability to execute creative deal structures while expanding its portfolio of high-quality, value-driven assets.
Strategic Highlights:
- Innovative Deal Structuring: The acquisition was completed through a master lease agreement with the option to purchase, where Mitra leased the property for one year before successfully closing the transaction.
- State-of-the-Art Facility: Built in 2023, this Class A facility offers the high-quality features that customers prefer while ensuring long-term durability and operational reliability.
Portfolio Expansion:
Praveen Reddy, Co-Founder, shares, "This acquisition demonstrates Mitra's agility and creativity in deal-making. By utilizing a lease-with-intent-to-purchase structure, we secured a high-quality asset while delivering value to both the seller and our fund."
Sumeet Patel, Co-Founder, adds, "The ability to operate the property for a year under our operating company, Forward Storage, was a fantastic opportunity to ensure that the market was as promising as we had hoped and allowed us to get a head start on executing our lease up strategy."
With this acquisition, Mitra Investment Partners continues to build its reputation for identifying high-quality real estate investments and creating win-win deals tailored to the unique preferences and circumstances of the sellers it works with. Forward Storage, the operating company, remains committed to investing in innovative technologies to drive operational efficiencies at scale and deliver exceptional customer experiences.
About Mitra Investment Partners
Mitra Investment Partners is a private real estate investment firm specializing in the acquisition and operation of self-storage and industrial-flex assets. The firm's mission is to build a diverse real estate portfolio and deliver strong investor returns through operational excellence and innovation. As of November 30, 2024, Mitra manages approximately $150 million in assets across 11 states.
For more information, visit www.investwithmitra.com or connect with us on LinkedIn.
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