LAS VEGAS, Jan. 12, 2022 /PRNewswire/ — Crystal View Capital Fund III ("Fund III") has announced that it has officially expanded its offering by an additional $30 million. This comes less than one week after fully subscribing its $95 million offering which was opened for accredited investors in November of 2020. The Fund’s managing partner, Matthew Ricciardella, announced the need for the $30 million expansion to its investors in the Firm’s 2021 Annual Meeting, discussing its robust pipeline of assets targeted for the Fund in 2022.
To date, Fund III has fully deployed its $95 million in equity capital since its inception into a portfolio comprised of approximately 67% self-storage and 33% manufactured housing assets, including a recent 10 location self-storage acquisition which Crystal View Capital ("the Firm") disclosed to its investors earlier this month. The Fund has paid over $2.4 million in preferred return payments since inception. In the meeting, Matthew also announced its recent closing on a $75 million revolving line of credit with KeyBank, which provides the Fund with a flexible and cost efficient source of capital.
As the Firm continues to grow its Assets Under Management, it also continues to grow its staff, more than doubling its talent in the last year to support its now over $200 million in AUM. When asked about the growth Matthew expressed excitement, stating "We have more talented individuals on our team than ever before to execute on our strategy. Our culture creates an alignment with our investors and these people behind the scenes get excited to impact our tenant’s lives, our investor’s lives, and their own legacies."
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 across the United States. Known for their in-house acquisitions and management team and unique company culture, Crystal View Capital is vertically integrated, disciplined to their investment strategy, and has a proven track record since the Firm’s launch in 2014.
Matthew Ricciardella, Principal and Managing Partner
Crystal View Capital
Allie Hunsaker, Investor Relations Manager
Crystal View Capital
T: (702) 541-6379
SOURCE Crystal View Capital