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Etiqueta: Westwood Crossing Apartments

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Sells

BIP Sells: Jaffa Drive Business Park

Bayshore Investment Partners (“BIP”) is pleased to announce the sale of Jaffa Drive Business Park located in St. Cloud (Orlando), Florida. The 63,200 square foot small bay industrial flex warehouse was developed in phases from 2006 to 2018 and was 100% leased at the time of sale. We would like to thank Chad Freedman of Ballaga Freedman & Atkins LLLC who represented BIP and Jones Lang LaSalle’s Luis Castillo and Cody Braise who represented BIP in the disposition. Upon sale, the partnership achieved LP IRR returns of 71.26% and a 2.37x equity multiple in less than 2 years of operations.

Bayshore Investment Partners, LLC («BIP») is a Miami-based real estate investment and management firm that was formed in 2010 to acquire and operate multifamily and commercial properties. Today, BIP acquires apartments, retail centers, and industrial flex assets. BIP has acquired seventeen apartment communities with over 2,200 units since inception and an additional 170,000 square feet of retail and industrial flex assets comprising over $350 million in acquisition value. Combined, the principals have acquired and/or managed over $4 billion of real estate assets nationwide during their careers. 

In addition to acquiring properties partnering with high-net-worth family offices, BIP closed on BIP Multifamily Fund I, LP, its first fund focused on 100 to 250 unit apartment communities, 1980s or newer in Florida, Atlanta, Raleigh and Charlotte, with +$38M in commitments raised (including co-invest vehicles). For more information, please visit www.bayshoreinv.com.

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Acquires

BIP Acquires: Piedmont Pad Apartments

Bayshore Investment Partners («BIP») is pleased to announce its first acquisition of 2022, Piedmont Pad Apartments. Developed in 2007, the property is located in Downtown Atlanta alongside one of Atlanta’s main arteries, Piedmont Avenue, and consists of 144 bulk units (out of a total of 160 units in the condominium). Furthermore, the property is situated just south of Peachtree Center and is two blocks away from the main campus of Georgia State University (+51,000 students) and Grady Memorial Health System (fifth largest public hospital in the U.S.).

The property will be rebranded to Piedmont Pad Apartments and is the third asset acquired by BIP’s first fund, BIP Multifamily Fund l, LP which raised over $38 million (including co-invest vehicles). The fund is focused on investing in 100 – 250 unit apartment communities, 1980s or newer in Florida, Atlanta, Raleigh and Charlotte.

We would like to thank the Polsinelli team of Kimberlie Pearlman and Nataly Caras for representing BIP as well as Travis Presnell, Mike Kemether, Wesley Lacefield and James Wilber from Cushman & Wakefield who represented the seller in this transaction. The property will be managed by BIP’s sister company, Cynergy Property Management, LLC.

BIP is a Miami-based real estate investment and management firm that was formed in 2010 to acquire and operate multifamily and commercial properties. Today, BIP acquires apartments, retail centers, and industrial flex assets. BIP has acquired sixteen apartment communities with approximately 2,250 units since inception and an additional 1 70,000 square feet of retail and industrial flex assets comprising of approximately $360 million in acquisition value. Combined, the principals have acquired and/or managed over $4 billion of real estate assets nationwide during their careers. For more information, please visit www.bayshoreinv.com.

Categorías
Acquires

BIP Acquires: Portofino at Championsgate

Bayshore Investment Partners (“BIP”) is pleased to announce its fifth multifamily acquisition of 2021, Portofino at Championsgate. The 121-unit luxury apartment community was completed in 2018 and is in the master planned community of Championsgate, west of Orlando and in close proximity to Disney. The luxury community was developed via concrete- block construction and includes the following amenities: private direct-access garages attached to each unit, resort style swimming pool / spa, expansive fitness studio, secure and gated barcode access, dog park with agility course, outdoor grilling stations, resident coffee bar and an outdoor yoga area.

This acquisition increases BIP’s Orlando portfolio to three communities with approximately 430 units. Furthermore, this acquisition marks BIP’s +2,100 units since inception milestone. The partnership acquired the asset via the assumption of an existing HUD loan.

We would like to thank Chad Freedman of Ballaga Freedman & Atkins who represented the partnership in the acquisition and Shelton Grenade, Luke Wickham and Justin Basquil from IPA Florida who represented the seller. Our sister company, Cynergy Property Management LLC, will be providing property management services.

BIP is a Miami-based real estate investment and management firm that was formed in 2010 to acquire and operate multifamily and commercial properties. Today, BIP acquires apartments, retail centers, and industrial flex assets. BIP has acquired sixteen apartment communities with over 2,100 units since inception and an additional 170,000 square feet of retail and industrial flex assets comprising over $330 million in acquisition value. Combined, the principals have acquired and/or managed over $4 billion of real estate assets nationwide during their careers. For more information, please visit www.bayshoreinv.com

Categorías
Acquires

BIP Acquires: Westwood and Creekbridge Crossing Apartments

Bayshore Investment Partners (“BIP”) is pleased to announce the recent acquisitions of Avenue @ Creekbridge, a 112-unit apartment community developed in 1987 and Westwood @ 60, an 88-unit apartment community developed in 1986. Both assets are located in Brandon, Florida, a strong rental submarket of the Tampa metropolitan area. The properties will be rebranded to Creekbridge Crossing Apartments and Westwood Crossing Apartments, while increasing BIP’s “Crossing” branded Tampa MSA portfolio to four communities with approximately 550 units.

The acquisition of Westwood and Creekbridge represents the rst two assets acquired by BIP’s rst fund, BIP Multifamily Fund I, LP. The fund is focused on 100 to 250 unit apartment communities, 1980s or newer in Florida, Atlanta, Raleigh and Charlotte, with +$32M in commitments raised for its rst closing (including co-invest vehicles). BIP Multifamily Fund I, LP will have a second and nal fund closing prior to year-end.

We would like to thank the Polsinelli team of Kimberlie Pearlman and Nataly Yosef, for representing BIP as well as the Berkadia team of Brad Williamson, Mitch Sinberg and Kyle Ryan for arranging nancing. Finally, we would like to extend our gratitude to Ryan Moody and Patrick Dufour from Newmark who represented the seller in this transaction. Both properties will be managed by BIP’s sister company, Cynergy Property Management .

BIP is a Miami-based real estate investment and management rm that was formed in 2010 to acquire and operate multifamily and commercial properties. Today, BIP acquires apartments, retail centers, and industrial ex assets. BIP has acquired fteen apartment communities with over 2,000 units since inception and an additional 170,000 square feet of retail and industrial ex assets comprising over $300 million in acquisition value. Combined, the principals have acquired and/or managed over $4 billion of real estate assets nationwide during their careers. For more information, please visit www.bayshoreinv.com.

Our Offices

Miramar
3600 Red Rd, Suite 309
Miramar, FL 33025

Wynwood / Miami
160 NW 26th Street, Suite 201
Miami, FL 33127

Quito
Ave. Pampite s/n Edificio Officenter, Suite 202
Cumbaya, Ecuador 17092

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Our Office

Miramar
3600 Red Rd, Suite 302
Miramar, FL 33025

Wynwood / Miami
160 NW 26th Street, Suite 201
Miami, FL 33127

Quito
Ave. Pampite s/n Edificio Officenter, Suite 202
Cumbaya, Ecuador 17092

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