Slow Waltz Deal Close

Engineers in Real Estate, in partnership with Tango Development, is pleased to announce the successful closing of Slow Waltz Real Estate Holdings (a.k.a. Overflow Garage Boat, RV and Mini-Self Storage investment at 2931 Melba Ln, Norman, OK 73072).  This is a new construction project is located just north of and adjacent to the McClain Boat and RV Storage facility that was acquired by Tango Development Services LLC two and a half years ago.  

McClain County Boat & RV Storage is located just south of Norman, OK.  The property consists of 15 buildings on 19 acres with over 320,000 square feet of space for rent divided into 689 units – 73% of which are completely enclosed, some with electric doors, and 14% are covered, providing protection from hail and storms.  The Overflow Garage Boat, TV and Mini-Self Storage is intended to provide additional storage leasing capacity and take advantage of the growing self-storage demand in that community. 

This $2.8 million raise was completed in August, 2023 and construction is already under way.   Once construction is completed and the units are leased up and generating cash flow (approximately 16 months), our investors will enjoy a preferred monthly return of 9% with a 5-to-7 year hold time.  At asset exit time, we believe our investors will achieve an IRR of approximately 17.2%.

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