Spring Creek, NV
Investment overview
Citadel Spring Creek is a value-add self-storage facility in the growing Spring Creek community outside Elko, Nevada. HRZN purchased the existing 50,000 sq ft, 290-unit facility and additional land in 2024, raised below-market rents, and added roughly 16,000 sq ft of new storage to meet pent-up demand in a market with only 2.5% vacancy.
New leasing software, an active marketing program, and a Verizon cell-tower lease have added revenue streams, and occupancy climbed from 70% in mid-2025 to 82% as of the Q2 2026 investor report. Cash flow is currently being reinvested into marketing and leasing; once occupancy increases further, HRZN plans a cash-out refinance with the goal of returning investor equity.
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Key highlights
More in Self-Storage
A 12-month land investment for covered RV and boat storage: an 8% preferred return paid monthly while the land is leased and entitled, plus 10% at a pre-arranged sale.
One of HRZN's strongest-performing facilities, holding 100% occupancy while executing rent increases.
A value-add self-storage facility that has added an 11,000 sq. ft. expansion phase and is leasing up the new units.
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