Property Details
Asset Profile
Value Add

Flamingo Park Apartments

West Palm Beach, FL

Multi-Family Property
Tidegate Capital Duxbury, MA
Tidegate Capital
  • IRR 22%
  • Equity Multiple 1.66x
  • Hold Period 3Y
  • Minimum Investment $25K
  • Year 1 Cash on Cash 8%
  • Stabilized Cash on Cash 9.2% in Y3
  • First Distribution Oct 2020
  • Distribution Frequency Quarterly
  • Asset Profile Value Add
  • Loan-to-Value 79%
  • Current Occupancy 60%

About this Property

Why This Property?

Guy Holbrook, Tidegate Capital: "This property is located just outside of downtown West Palm Beach and will greatly benefit from professional management. There are 2 "down" apartment units that will be renovated, along with 2 units that are currently not being rented. Also, 4 commercial spaces will be leased out to further enhance revenue."



Why Do You Like This Strategy?

Guy Holbrook, Tidegate Capital: "We love the ability to acquire a property that has not maximized its potential. Revenue increases through professional management, enhanced efficiencies and improved curb appeal can greatly add to the valuation of a property during the course of a value-add strategy. Location is also critical in identifying properties that have the most potential and West Palm Beach represents a vibrant city on the East Coast of Florida, with diverse economic drivers."



How Are You Mitigating Risks?

Guy Holbrook, Tidegate Capital: "Diversification of income from both apartment rentals and commercial space will drive revenue higher than would otherwise be possible. Additionally, the prime location will remain in high demand from propsective tenants throughout changing economic cycles. Professional management will improve the renter profile via a strong tenant screening process."

About this Property

Why This Property?

Guy Holbrook, Tidegate Capital: "This property is located just outside of downtown West Palm Beach and will greatly benefit from professional management. There are 2 "down" apartment units that will be renovated, along with 2 units that are currently not being rented. Also, 4 commercial spaces will be leased out to further enhance revenue."



Why Do You Like This Strategy?

Guy Holbrook, Tidegate Capital: "We love the ability to acquire a property that has not maximized its potential. Revenue increases through professional management, enhanced efficiencies and improved curb appeal can greatly add to the valuation of a property during the course of a value-add strategy. Location is also critical in identifying properties that have the most potential and West Palm Beach represents a vibrant city on the East Coast of Florida, with diverse economic drivers."



How Are You Mitigating Risks?

Guy Holbrook, Tidegate Capital: "Diversification of income from both apartment rentals and commercial space will drive revenue higher than would otherwise be possible. Additionally, the prime location will remain in high demand from propsective tenants throughout changing economic cycles. Professional management will improve the renter profile via a strong tenant screening process."

Offered By

Tidegate Capital

Tidegate Capital

Duxbury, MA

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Assets Under
Management

Currently
$65MM 10+ assets
Exited
$8.02MM less than 10 assets
Portfolio LTV
68%  
Historical
Realized Returns

Total IRR
23%  
Equity Multiple
1.5x  
Annual Cash
4%  
Years Of
Experience

As Principals
10+ years  
In Business
5 years  
Size
4 Staff * Dedicated investor relations
* All information is reported by Tidegate Capital as of 9/1/2019.
Assets Under
Management

Currently
$65MM 10+ assets
Exited
$8.02MM less than 10 assets
Portfolio LTV
68%  
Historical
Returns

Total IRR
23%  
Equity Multiple
1.5x  
Annual Cash
4%  
Years Of
Experience

As Principals
10+ years  
In Business
5 years  
Size
4 Staff * Dedicated investor relations
* All information is reported by Tidegate Capital as of 9/1/2019.

Financials

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Offering Financial

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Location Details

West Palm Beach, FL

Excellent West Palm Beach Florida location in higher-end residential and commercial area. Adjacent to "Restaurant Row" on Dixie Highway and within walking distance to downtown. Easy access to beaches and intracoastal waterway make this an ideal spot for residents.

Documents

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Offering Agreement Documents

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