Projects – Groundswell Real Estate

PROJECTS

Summerhills Plaza

Location: Citrus Heights, California

Description: 123,000 sf value-add investment

Investment Strategy: Completed successful value-add strategy for this grocer-anchored retail center by:

Negotiated long term lease extension/store improvement with Raleys Supermarket as anchor
Added new Dutch Bros. Coffee drive thru store in a new pad location within center
Completed expansion of Dollar Tree and Round Table Pizza stores pursuant to lease extensions
Sold individual exterior parcels separately at advantageous pricing
Sold balance of shopping center at end of Yr. 4 of investment

Esporta Fitness

Location: Orlando, Florida
Description: New 37,000 sf fitness facility
Investment Strategy: Develop state of the art fitness facility pursuant to 18 yr. fixed term lease with LA Fitness. Hold or sell as a net leased investment property.
Execution: Sold completed Esporta Fitness property at record price/cap rate for Central Florida. In escrow to sell remaining frontage parcel for a drive-through coffee house

Lake Mac Apartments

Location: Orlando, Florida

Description: New 275 unit lakefront residential community proximate to western entrance to Disneyworld.

Investment Strategy: Obtain entitlements and permits to develop, build and lease apartments, then hold or sell as a stabilized multifamily community.

Execution: Obtained Development Plan (site plan) approval; proceeding to construction documentation, financing and development.

University of Evansville Student Housing Development

Location: Evansville, Indiana

Description: New 293-bed residence hall, including demolition of two older dormitory buildings and construction of a new U-shaped dormitory building in the center of campus and Keystone Corp out of Indianapolis, IN as General Contractor.

Investment Strategy: Design/build for private university campus housing. Groundswell is co-developer with Servitas, a student housing developer.

Execution: Construction completed; new housing is fully occupied and operational.

Groundswell Real Estate Co-Develops New Apartment Residences at University of Evansville

Description: The Project consists of the development of an approximately 123-bed student apartments, also to include a ground floor corner restaurant, adjacent parking and the additional parking lot to be constructed south of Lincoln Avenue, supporting improvements and facilities on property owned by the University and located adjacent to the Evansville Campus of University of Evansville.

Strategy: Design/build for private university campus housing. Groundswell is co-developer with Servitas, a student housing developer.

SW Florida Industrial Portfolio Acquisition

Location: SW Florida, multiple markets

Description: In participation with affiliate Columnar, underwrote and closed acquisition of existing four building portfolio in several locations in SW Florida totaling 323,000 sf of warehouse space, including 3 refrigerated buildings and related buildings and property.

Strategy: Purchase/leaseback for several years to existing tenant (beverage distributor); future value add strategy includes capital improvements, potential expansion and re-lease of the warehouse and ancillary buildings. Investment originated by affiliate Columnar Commercial.