Tech Fast Metal Systems Inc. will develop the self-storage site World Assurance Group intends to acquire in Tacoma, Wash.
Through its subsidiary, ANAV Holdings Corp., WAG has purchased a 45 percent interest in the project. The company is projecting $11,364 a month for its investment, with $1,364,497 in equity. This works out to an 11.6 percent return on cash and an 113.7 percent uplift on value, excluding cash-on-cash.
"This is the first of our income producing investments in a highly successful sector. The storage facility sector may be a continuous revenue stream for ANAV, and we look forward to growing the investment side of our business and acquiring similar types of investments," said Jonathan Morgan, president of WAG.
Tech Fast has been building self-storage facilities for 20 years. The company has completed more than 2,500 projects throughout North America totaling more than 33 million square feet.
Source: Yahoo! Finance, World Assurance Group (WDAS.OTC) Subsidiary Anav Holdings Corporation Announces Forecast for Tech Fast Project