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For Immediate Release
Media Inquires:
Sharon Finley
Public Relations Initiatives
928.717.1880
sharon@pr-initiatives.com
Ratel Investments Purchases Lake
County California
Industrial Properties
Kelseyville and Lower Lake
Self Storage Facilities Newest Additions to Ratel
Portfolio
San Francisco, Calif.— December 1, 2002 – Ratel Investments, a Bay Area-based real estate private equity firm, today announced it has completed the purchase of two industrial properties located in Northern California: TNT Mini Storage and Spruce Grove Storage. Both properties are located approximately 2.5 hours north of San Francisco in Lake County and provide self storage rental units to local consumer and business users.
TNT Mini Storage (www.tntstorage.com), located in Kelseyville, California, is a 264-unit self storage complex with approximately 42,000 square feet of rentable space. The facility also includes a 7 acre parcel of land which Ratel will use for future expansion of the property. In addition, TNT is located across the street from a site that is planned as the new home of Kelseyville Lumber, the largest building
supply store in Lake County.
Spruce Grove Storage (www.sprucegrovestorage.com), located in Lower Lake, California, is a 414-unit self storage complex with approximately 60,000 square feet of net rentable space. The facility is approximately 1 mile from Hidden Valley, the fastest growing planned
housing community in Lake County.
Both properties offer on-site management, 24 hour security and locked gate access, a wide variety of unit sizes and weather-resistant metal buildings. Both properties will be under the management of Ratel Investments’ property management team.
“Lake County has experienced some of the fastest population growth in California,” said Ron Sann, Principal of Ratel Investments. “The proximity to the Bay Area, the attraction of the largest freshwater lake in the state, and the availability of reasonably priced housing is helping drive the market for self storage in this area.”
About Ratel Investments (www.ratelinvestments.com)
Ratel Investments is a real estate private equity firm that purchases real estate assets both directly and indirectly with partners. Based in San Francisco, California, Ratel’s portfolio includes more than 1,000,000 square feet of income-producing real estate assets throughout the western United States.
TnT Mini Storage
Spruce Grove Storage
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