Lafayette Real Estate’s Post

🏢 Breneman Capital's Strategic Moves in Chicago's Real Estate Market 🌆 We're excited to share two significant transactions as 2023 draws to a close, totaling over $21.5 million. These deals focus our portfolio in one of Chicago's most desirable areas. 1️⃣ Our acquisition of the 47-unit Ashland Place at 33 S. Ashland Ave. in the West Loop for $17.95 million is a testament to our commitment to high-value areas in Chicago. This modern property, built in 2018, fits perfectly with our strategic goals. 2️⃣ Following this, we successfully sold an eight-unit building at 3332 W. Palmer St. in Palmer Square. Acquired in 2019, we've enhanced its value through dedicated management and improvements. These moves reflect our approach to investing in resilient areas with strong market demand, like Chicago's West Loop. We're proud to contribute to the city's dynamic real estate landscape and look forward to more opportunities in the future. https://lnkd.in/d5cfk2hj #BrenemanCapital #RealEstateInvestment #ChicagoRealEstate #StrategicGrowth #WestLoopChicago

Our recent acquisition of The Drake at St Pete in St. Petersburg, Florida, reflects our strategic focus on US multifamily, capitalizing on the unique and untapped potential we've identified in Florida. Learn more about our most recent acquisition on Multifamily Dive here: https://lnkd.in/eaGzDyq5 #realestate #privateequity #multifamily #residential #multifamilyinvesting

From wholesaling to flipping, every step has shaped us for the multifamily journey! 🔄 Our skills in finding deals and renovating properties seamlessly transitioned into the multifamily space. In the beginning, we hunted for deals just like we did in single-family wholesaling, going direct to sellers. It was a game-changer, and though we now work more with brokers, those early skills got us our first two deals and opened doors. Our construction background has been key! Confidence in estimating renovation costs has been invaluable. It not only helped us plan but also attracted partners to join our General Partner team. Both experiences played a crucial role, accelerating our growth and allowing us to build our multifamily portfolio with confidence and speed. #RealEstateJourney #MultifamilySuccess #SkillsTransfer

📢 Real Estate Insights: Now is a Prime Time to Buy Apartments! 🏢 Key Takeaways from Hamilton Point Investments: Strategic Acquisitions: In May and June, Hamilton Point Investments (HPI) bought four new properties in Houston for $195 million, totaling 1,174 units. Cost Efficiency: These assets were secured at $166,100 per unit, significantly lower than the $210,000 per unit cost from two years ago. Market Timing: HPI's co-founder Matt Sharp highlights that current prices offer the best buying opportunities since 2010-2011 due to an overbuilt market. Investment Strategy: Focus on nearly brand-new properties directly from developers, purchasing below development cost. Fundraising Success: Continuous interest in apartment investments with strong demand from their investor base, driven by the potential for rent inflation and cash flow stability. Technology Integration: While embracing technology, HPI values human interaction, especially in maintenance, and avoids over-reliance on pricing software to maintain tenant affordability and relationships. 👉 According to Matt Sharp, this favorable buying window is expected to last through the end of the year, making it an excellent time to invest in multifamily properties. Stay tuned for more real estate insights! #Colliers #Pittsburgh #MoreIn24 #ThriveIn25 #ClosersCoffee #ColliersCapitalMarkets https://lnkd.in/e7um6mbe

WhiteRock Value Add Case Study 🚀 We are thrilled to share the success of our latest portfolio acquisition – 1 of our two-family multifamily properties acquired through direct-to-seller mailers. This off-market deal is a prime example of our commitment to value-add strategies and rigorous market analysis. Typical as-is market 2-4 family properties range from $200k-$225k, with the higher end units (typically 2 families tend to be on the higher end in this market place closer to $250k per door) For this acquisition, we secured the property at $175k per door with the intention of some heavy lifting. The 3-bed unit required a heavy value add, including a full gut renovation of the kitchen, bathroom, and one bedroom. We also added in-unit washer/dryers and dishwashers, which we projected to have increased rent by $250-$300/month. Additionally, we researched off-street parking, to add another $100/month in rent. Pre-renovation, the 3-bed unit rented for $1400/month, outdated for what seemed to be over 30 years. With a $20k renovation, we managed to increase rent from $2575/month, a 45.6% increase, adding $1175/month. Total cost after renovation was $195k per door. With an annual rent increase of $14,100, we added $209k in value to the portfolio, using a 6.75% cap rate. (Keep in mind, this metric/financial breakdown works predominantly in scale with larger portfolio acquisitions). This strategic investment showcases our ability to identify undervalued properties, execute cost-effective renovations, and significantly boost rental income, adding substantial value to our portfolio. A big win for the WhiteRock team! 🏆 #RealEstate #Investment #ValueAdd #WhiteRockInvestments #Multifamily

Morgan Properties, the nation's largest private multifamily owner and operator, just completed the acquisition of nearly 3,500 units across our home state of PA from The DePaul Group. This adds a private group to this years mix of massive multifamily portfolio bets behind Blackstone and KKR. One thing is for certain, these sales indicate growing confidence in the multifamily market by both institutional and private investors alike. Sale volume is returning as sellers and buyers have a better understanding (and maybe acceptance) of where the market is now after a significant correction. #multifamily #multifamilyinvesting #realestate #realestateinvesting #investmentsales #cre #pennsylvaniarealestate #cushwake

Harbor Group International is making waves in the multifamily sector, scooping up new properties and showing a keen eye for fresh builds. Here's the lowdown: New Digs: They've added some cool new spots in Denver to their already hefty portfolio. Looking Sharp: Focusing on new constructions in hot markets, they're all about snagging the best deals. Market Moves: More players are jumping in, but Harbor Group is quick on its feet, keeping an eye on the prize despite tighter competition. Staying Steady: They're sticking to their game plan, navigating market ups and downs with a solid strategy. Looks like they're not just playing the game—they're setting the pace! #RealEstateInvestment #MultifamilyHousing #MarketDynamics #StrategicInvestment #Colliers #Pittsburgh #MoreIn24 #ThriveIn25 #ClosersCoffee #ColliersCapitalMarkets https://lnkd.in/eQqPGQD3

Distress is a term often used by folks who are looking for a deal. In many cases, it usually identifies a winner and a loser. Westmount Square Capital we pride ourselves on being creative, dynamic, but most importantly collaborative. Our exacting approach is certainly with the intention to win for our investors, but it is also cooperative in nature as to avoid inertia and limit emotion with other parties. When we find multifamily distress, we approach it as a partnership. As an investor, we work with the incumbent owner/lead sponsor to find a swift resolution that achieves our minimum return thresholds while trying to salvage the interests of the deal's stakeholders.    This is the approach we used for our latest distressed acquisition in Jacksonville, FL (two properties/185 units). We really enjoyed structuring this one and our playbook is set for similar opportunities. We want to thank our partners at Miramar Capital Advisors for their collaboration on this transaction.   If you are a sponsor, LP, or participant with a financial interest, exposed to Central/Northern Florida, you are likely facing structural headwinds: interest rate volatility, ballooning insurance costs, staffing shortages, capital structure drag, or operational tribulation...#distress. We can work with you and we would love to share our story - reach out if you care to discuss. #multifamily #valueadd #jacksonville #florida #multifamilyinvesting #floridarealestate https://lnkd.in/giWqCbQj

Diamond Properties Makes Impressive Acquisition In Ohio   Diamond Properties is looking to start the new year off with a monumental achievement, acquiring three commercial properties in the greater Ohio area, one of which encompasses the entirety of an industrial property portfolio.   The announcement comes just days after the start of 2024. However, Diamond Properties has worked tirelessly for months to ensure the success of their latest acquisition, and decision-makers within the company are thrilled to finally share their news at long last.   As it stands, the acquisition features more than 704,000 sq ft. of prime industrial real estate in Ohio, and the Diamond Properties team is elated to add these properties to their growing portfolio of real estate developments across the United States.   Inside The Infill Industrial Portfolio   The first but certainly not least of Diamond Properties' acquisitions comes from Infill Industrial Portfolio in Cincinnati. This prolific portfolio includes two single-tenant commercial real estate spaces located at 4700-4750 Creek Rd in Blue Ash and 9345 Princeton-Glendale Rd in West Chester. Combined, the properties make up more than 300,000 sq ft. of industrial and commercial real estate in some of Ohio's most promising districts.   Of course, commercial property is only as promising as its tenancy. Both properties feature a strong 100% tenancy rate held by esteemed companies, including Baxters North American and Overhead Door Company of Greater Cincinnatti, Inc. Diamond Properties looks forward to continuing their track record of prosperity and supporting their tenants with some of the best property management strategies in the country.   A Deeper Look At Leap Road   Along with the Infill Industrial Portfolio, Diamond Properties has also acquired 4081-4199 Leap Rd in Hillard. This sprawling multi-tenant commercial real estate space is currently home to seven tenants, including Yokowo Manufacturing and E-Cycle, Inc. The property encompasses more than 200,000 sq ft. of rentable real estate for current and future businesses, including at least 13 commercial business suites.   Most notably, this particular property is spread across two buildings. Currently, it sits at an 88% occupancy rate, leaving plenty of room for growth and expansion at the hands of Diamond Properties. Built in 1974, the property features more than 400 parking spaces, nine drive-in doors, and ample potential for success.   #commercialproperty #commercialrealestate #ohiorealestate #industrial