Crystal View Capital Announces Completion of Crystal View Capital Fund I

LAS VEGAS, June 14, 2021 /PRNewswire/ -- Crystal View Capital (the "Firm") announced Crystal View Capital Fund I, LLC (the "Fund") has fully realized all of its self-storage and manufactured housing assets as of March 17, 2021 with a final wind-down date set for the end of the year.

Launched in 2014, with an offering of $10 million of equity capital, the Fund acquired 21 assets from its inception and was comprised of self-storage facilities, manufactured housing communities, a bolt on office, land, and retail assets located across the United States.

The Fund engaged a third party administrator as a calculation agent[1] to calculate the Fund's Class B performance metrics summarized in the following table:

The Fund's capital was fully deployed as of September 2017 and began to pursue the sale of assets in the beginning of 2018. Investors received a full return of capital in Q3 2019 with the Fund still holding $24 million in assets. The Fund generated a gross IRR of 47.9% from inception through March 31, 2021 and made a total of approximately $34 million in distributions.

In March 2021, the sale of A Mini Self Storage in Garland, Texas marked the final sale for the Fund generating a sale price of $3.8 million with a project level gross profit of $2.4 million, an IRR of approximately 38.7%, and a 2.5x MOIC.

"Given current market conditions, we have been strategically selling properties out of the Fund over the last few years in order to accelerate and maximize returns to our limited partners," said Matthew Ricciardella, the Fund's founder, Principal, and Managing Partner. According to Matthew, investors were very pleased with their returns and, when he announced in late last year that he intended to complete the wind-down in the subsequent year, they immediately began to ask when he would launch a 3^rd Fund under a similar strategy. In light of Fund I returns, investors have naturally seized the opportunity by reinvesting in Fund II which was oversubscribed in June 2020 with approximately $56 million of equity capital raised. In November 2020, Crystal View Capital Fund III was formed, which has an initial offering of $95 million and has since been approximately 65% subscribed.

Crystal View Capital is a private equity real estate firm that specializes in the acquisition and management of self-storage facilities and manufactured housing communities.

For more information about the Fund, please visit our website: www.crystalviewcapital.com

Matthew Ricciardella, Principal and Managing Partner
Crystal View Capital

Allie Hunsaker, Investor Relations Manager
Crystal View Capital
T: (702) 541-6379

[1] Returns and metrics shown are calculated by NAV Consulting Inc., a third party fund calculation agent, and reflect the time period from the Fund's inception through March 31, 2021.  The data presented is preliminary and subject to change. In producing the returns, NAV Consulting, Inc. relied on the information, including valuation packages and bank statements provided by Crystal View Capital, (the "Information").  NAV has accepted the Information "as is;" NAV has not reviewed, verified, validated, compared to other sources or otherwise performed due diligence on said Information and makes no representations or warranties with respect to its accuracy. The information presented on the returns has not been audited. The returns have been produced by NAV Consulting, Inc. for the exclusive benefit of Crystal View Capital and are for informational purposes only.  No person or entity, other than Crystal View Capital, is entitled to rely upon the information contained therein.  Particularly, NAV Consulting, Inc. does not intend the information in the returns to be used as inducement or recommendation to make an investment or to be relied on while making an investment.

SOURCE Crystal View Capital

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