Crestline Investors, Inc. ("Crestline") is excited to announce that funds managed by its Real Estate and Reinsurance teams have closed a first lien mortgage construction loan secured by LuxeLocker Reno, an RV and boat self-storage property located in Reno, Nevada (the "Property"). The Property is accretive to LuxeLocker’s well-established portfolio of high-end storage complexes, and financing will support the construction of the new 184-unit development, located 40 miles from Lake Tahoe.
“We view this as a compelling opportunity to assist in LuxeLocker’s strategic expansion into key markets across the Western United States”, said Wes Davidson, Director at Crestline.
“Our ongoing relationship with Crestline made them the natural choice for financing this project,” said Ryan O’Donovan, Principal at Everest Holdings. “Their deep industry expertise makes them an ideal partner for assisting in completing this luxury facility.”
“We are thrilled to bring LuxeLocker’s premium storage solutions to Reno, a strategic location near Lake Tahoe that complements our mission of providing high-end, secure, and spacious storage for RVs, boats, and classic vehicles,” said Adam C. Pakes, CEO at LuxeLocker. “This project represents our commitment to expanding LuxeLocker’s footprint across the Western United States, and we are proud to collaborate with Crestline and Everest Holdings to make it a reality.”
About Crestline Investors
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $20 billion in assets under management (as of September 30, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About LuxeLocker
Based in Lake Havasu City, Arizona, LuxeLocker specializes in the development of premium storage facilities for cars, boats, and recreational vehicles, that are designed with spacious units, high-end amenities, and unique ownership optionality. For more information, visit www.luxelocker.com.
About Everest Holdings
Founded and operated in Scottsdale, Arizona, Everest Holdings is a real estate investment and advisory services firm. Everest invests across multiple asset classes, including land, multifamily, office, industrial and retail. Everest Financial Services is an affiliate of Everest Holdings that provides private credit for developers and real estate investors. For more information, visit www.everestholdings.com.
This financial promotion is issued by Crestline Management, LP and Crestline Europe, LLP (together "Crestline"). Crestline Europe, LLP is authorized and regulated by the Financial Conduct Authority (FCA). The material is not intended to be a formal research report and nothing in this presentation should be interpreted to state or imply that past results are an indication of future performance. Any opinions expressed herein are our current opinions only. There can be no assurance or guarantee that Crestline's investment strategy will achieve its stated goal. All information provided in this presentation is for informational purposes only Crestline accepts no liability for loss arising from the use of this material. In the United Kingdom, this communication is being made only to, or directed only at, persons who are: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FP Order”); ii) high net worth companies and certain other entities falling within Article 49 of the FP Order; or (iii) any other persons to whom such communication may lawfully be made. It must not be acted, or relied, upon by any other persons.
