Security West Building

Security Land and Development Company Limited Partnership

On November 18, 1994, Regency Affiliates, Inc. acquired a limited partnership interest in Security Land and Development Company Limited Partnership. The Partnership (“Security West”) owns the 34.3-acre Security West complex at 1500 Woodlawn Drive, Woodlawn, Md. The facility was occupied by the United States Social Security Administration through November 2023 and is currently vacant. Management is evaluating alternative uses for the facility.

Storage Depot-Harrisburg, Pennsylvania

On April 18, 2016, Regency announced that it had completed the acquisition of a portfolio of five standalone self-storage facilities in the Harrisburg, Pennsylvania vicinity, for a total purchase price of $35,000,000. The purchase price for the facilities and related transaction expenses were financed in part with the proceeds of a $25,250,000 non-recourse debt financing with a ten year term, 4.95% fixed interest rate and 30 year amortization commencing after a four year interest only period. The balance of the purchase price and transaction expenses, and initial working capital, were financed by an approximate $11,231,000 capital contribution from Regency. The facilities together comprise approximately 330,000 square feet of net rentable space consisting of in excess of 2,500 climate and non-climate controlled storage units. Revenues from the facilities are derived primarily from monthly rentals by individuals and additional revenues are earned from rentals to businesses, parking rentals, truck rentals, billboards and other administrative fees.