Viewing entries in
Multifamily
FIDES Investment, LLC (“FIDES”) announces the sale of Fulton Terrace apartments, a 7-story value-add property totaling 26 units located south of Linden Hills in close proximity to Edina. The properties were purchased in September 2014. The average property level return equated to a 20% IRR and a 1.7x multiple.
FIDES Investment, LLC (“FIDES”) announces the sale of Belvedere and Martinique, two vintage rehab properties totaling 51 units located in the heart of Uptown Minneapolis. The properties were purchased in September 2014. The average property level return equated to a 21% IRR and a 1.7x multiple.
FIDES Investment, LLC (“FIDES”) announces the sale of El Capitan and Granada, two vintage rehab properties totaling 52 units located in the heart of Uptown Minneapolis. The average property level return equated to a 17% IRR and a 1.6x multiple. Approximately 40% of the apartment units were renovated along with common areas which translated into a total revenue increase of approximately 37% from takeover to disposition.
FIDES Investment, LLC (“FIDES”) announces the sales of Park Crossing, a 32-unit apartment building located in Downers Grove, IL, and Maple Park, a 34-unit apartment building located in Naperville, IL. The recent sale price was just under $140,000/unit. The property level return equated to a 20% IRR and a 1.7x multiple.
FIDES Investment, LLC (“FIDES”) announces the sale of Laguna, a 45-unit luxury apartment building located in the heart of Uptown Minneapolis. The development parcel was bought “off market” in early 2015. Building construction was completed in May 2016, and the building was successfully leased up in just over 4 months.
FIDES Investment, LLC (“FIDES”) announces the sale of Geneva Park, a 56-unit apartment building located in Geneva, IL. FIDES joint ventured with a privately held investment firm that bought the failed condominium conversion in October 2013 in a short sale transaction simultaneously with the individual purchase of the previously sold condominiums.
FIDES Capital Partners, LLC (“FIDES”) announces that it has served as capital advisor to a client in the manufactured housing sector. Greg Longoria the founder of FIDES said, “We are our very pleased that our client has partnered with such a dynamic and institutional investor.
FIDES Capital Partners, LLC ("FIDES") is pleased to announce that it has successfully advised its client, a national multifamily housing developer, on the formation of a strategic venture with an institutional multifamily property management company. The strategic partnership will start with a $600 million portfolio, and will expand through co-development and investment opportunities throughout the U.S.
FIDES Investment, LLC (“FIDES”) announces its tenth joint venture with a high net worth family office for the acquisition of a land parcel slated for development in downtown Highwood. Before closing on the parcel, FIDES rezoned the property which is now approved for a 4-story 28-unit luxury apartment building. Additionally, FIDES worked closely with the village to obtain TIF financing to offset some of the infrastructure costs.
FIDES Capital Partners, LLC (“FIDES”) announces that it is serving as advisor to a client in the manufactured housing space. Greg Longoria the founder of FIDES said, “We absolutely love the manufactured housing sector. It has all the right things going for it. Several years ago we advised another client in partnering with an institutionalized family office, and the returns have worked out really well for both parties.”
FIDES Capital Partners, LLC (“FIDES”) announces its ninth joint venture with a high net worth family office for the acquisition of a three building portfolio in urban Minneapolis. The buildings are located in the Whittier neighborhood of Minneapolis and is just minutes from downtown Minneapolis.
FIDES Capital Partners, LLC (“FIDES”) announces its seventh and eighth joint ventures with a high net worth family office for the acquisition of two land parcels with the potential to develop approximately 50+ luxury apartment units exceeding $13.0 million in total capitalization.
FIDES Capital Partners, LLC ("FIDES") announces that it has arranged the sale of a note secured by a first mortgage position on a 99-unit apartment project located in Bentonville, Arkansas on behalf of Wintrust Financial. Gregg Handrich of FIDES said, " Wintrust was looking for a quick note sale execution at a minimum discount to help manage their balance sheet.
FIDES Capital Partners, LLC ("FIDES") announces its sixth joint venture on the acquisition of a multifamily land parcel in Uptown Minneapolis. The site is located in the heart of Uptown and in close proximity to the 407-unit Vintage apartment portfolio that FIDES acquired in September 2014.
