Gelt Venture Partners

Gelt Venture Partners is pleased to announce that we have officially closed escrow on Rancho Hills Apartments in Vista, California. We are excited to kick off our business plan and unlock the value we see in this asset. This acquisition marks GVP’s first asset in San Diego County, and we’re actively seeking more opportunities in this high-demand market. Special thanks to Rachel Parsons, Derrek Ostrzyzek, and Michael Murphy for representing both GVP and the seller in this transaction. ___ #Multifamily #SanDiego #RealEstate #Investments #CashFlow https://lnkd.in/gBCiy7G7

Say Hello to Leah Detor, GVP’s new Director of Asset Management. Leah joined Gelt in April 2024 as the Director of Asset Management, where she is responsible for the economic and physical performance of the firm’s Colorado and Pacific Northwest assets. Leah comes with deep experience in multifamily and mixed-use asset management, acquisitions underwriting, and mixed-use commercial lending for a range of product types across the U.S. Most recently, she spent 7 years at Carmel Partners leading a 3,000+ unit multifamily portfolio of large-scale and value-add deals across the West Coast. Leah, originally from Honolulu, Hawaii, studied Finance and Supply Chain Management at the University of San Diego. She’s an active member of ULI and avid supporter of non-profits providing opportunities to youth from underserved communities. __ #AssetManagement #NewHire #Multifamily #RealEstate

Founding Partner, Keith Wasserman just dropped some serious wisdom on The Matthews Mentality Podcast hosted by Kyle Matthews. Curious about the insights shared? Tune in now. LINKS 🎙️: Apple Podcasts https://lnkd.in/dbKtaAvA Spotify Link https://lnkd.in/dvqp2tQk Youtube Link https://lnkd.in/daXNpRte —— #Podcast #RealEstate #Wisdom #Investing

Gelt Venture Partners has closed escrow on the purchase of Allure Apartments in Denver, Colorado. With this acquisition GVP now owns and manages more than 2,500 apartment units in the Denver region. “This property was an ideal fit with GVP’s acquisition appetite. The recently upgraded units, strategic location, abundant and growing Denver population, and the opportunity to add value to rents as they roll, all played into our long-term ownership strategy.” said GVP Partner, Josh Satin. —— #RealEstate #Apartments #Investing #CashFlow #Denver #Colorado #Multifamily

PROPERTY UPDATE: 1500 Cherry St. Placentia, CA 92870 Since assuming ownership in September 2023, Gelt has successfully rebranded the property as Placita Lux Residences and initiated an extensive interior renovation program. Our vision includes the addition of a sleek kitchen island, stylish tile backsplash, pristine white quartz countertops, contemporary cabinets, upgraded hardware, modern lighting, and new flooring. The improved aesthetic not only enhances the living spaces but has empowered Gelt to surpass our proforma rental expectations. ___ #RealEstate #Investing #Renovation #ValueAdd #CashFlow

Let’s give a very warm welcome to our new Head of Asset Management, Laila G.! Ms. Gordy joined Gelt Venture Partners in January 2024 with over 15 years of real estate and asset management experience. As Head of Asset Management, Ms. Gordy oversees all asset management operations for Gelt Venture Partners’ multifamily portfolio. Her responsibilities include oversight of the asset management team, leading the strategic direction of each property to maximize performance, and creating, implementing and executing business plans to drive growth. Prior to GVP, Ms. Gordy was Vice President of Asset Management at Carmel Partners where she led the asset management team and operations of West Coast assets valued in excess of $4B in gross market value, managing assets throughout their life cycle including development, lease up, and stabilized properties. Previous to Carmel, she was Senior Vice President at JRK Property Holdings where she was responsible for the economic performance and physical condition of 20+ multifamily properties valued over $1.2B. There, she maximized investment value, repositioned underperforming and newly acquired assets, and managed interior and exterior renovations. Ms. Gordy earned her Bachelor of Arts in Economics from UCLA, and enjoys spending her free time learning the art of baking, playing tennis, listening to podcasts, exploring new restaurants, and is a fan of all things Larry David. __ #NewHire #RealEstate #AssetManagement #Apartments #Multifamily #Investing

Gelt has closed escrow on the sale of SouthMark Storage in Pasadena, CA. South Pasadena marked Gelt’s entry into the self-storage asset class. The property was listed for sale in 2018 by CBRE and marketed as a redevelopment deal. Gelt was approached due to its existing relationship with CBRE, and familiarity with the seller group, from whom we had previously acquired apartments. Upon carrying out an in-depth analysis of the site, Gelt determined the existing self-storage use had quantified upside in bringing rents to market and improving the condition of the property to cater to a strong local area demographic. Gelt outbid a competitive buyer pool of dozens of investment groups including sophisticated self storage operators. Subsequently, a decision was made to continue existing storage operations and implement our value-add business plan. As part of the business plan, Gelt hired a best-in-class storage operator on favorable terms, implemented superior revenue management and advertising strategies, optimized unit mix, captured select expansion potential and carried out a focused capex plan which included security upgrades, digital access systems, asphalt improvements, renovation & painting; which helped attract a higher paying tenant base. As of the end of Year 5 of ownership, NOI had tripled, thereby substantially surpassing the 7-year proforma. The investment generated industry leading returns upon sale in November, 2023 with an equity multiple of 4.5x and a 36% IRR. ___ #Pasadena #California #SelfStorage #Investments #CashFlow #RealEstate #Investing

Our Construction Manager and Chief Investment Officer recently embarked on a journey to Denver, Colorado to perform due diligence on a property we're in the process of acquiring. We scrutinized every detail, walked through all the nearby comps, and left no stone unturned to ensure this investment opportunity exceeds our underwriting. ___ For more information on this opportunity reach out to investors@geltinc.com