Tides Equities' Post Tides Equities 5,541 followers 12h One provided a pricing sheet for the apartments: Renovated units typically cost about $200 more per month, and Tides renovates them as they come vacant. At that rate, Tides would have been paying just under $150,000 a month. The booming Dallas-Fort Worth rental market would allow Tides to hike rents by 24 percent, setting up a lucrative resale. Provide oversight on preparation of property-level business plans and budgets; analyze property performance relative to business plan targets. Purchase Price: $57,250,000 Recap Date: April 2021. Big deals keep on turning: Multifamily acquisitions surging in - KNXV In the first half of the year, the firm closed 33 transactions, accounting for over $2.3B. Profile of Rising Multifamily Investor Tides Equities When Tides refinanced the Colton property with a $72 million loan from MF1 Capital in 2021, it reported $4.53 million in net cash flow, according to DBRS Morningstar, which rose to $5 million as of June 2022. Negotiate and/or manage the contractual relationship with any vendors involved with the execution of the business strategy at the asset. Throughout his career, Micah has been responsible for developing and executing business plans and budgets for his portfolio. Working in the same office building and meeting for lunch, the two would bond over how theyd do things differently if they ran the show. Tides at Paradise Valley. Media Contact This button displays the currently selected search type. It is kind of a worst-case scenario when you buy the properties. Our big thesis is reducing the variables of every investment, Andrade said. Sunrise is at 6:07am and sunset is at 7:33pm. Elliot Askari, CCIM joins us as the Director of Portfolio Management. Acquisitions Associate at Tides Equities . Multifamily mortgage debt increased by $35.7 billion in the first quarter of 2022 to $1.9 trillion, according to the Mortgage Bankers Association. TIDES4FISHING | WATER TEMPERATURE IN EMPIRE JETTY | MAY 2, 2023, It is normal for waves to vary in height from one to the next. Of the dozens of properties Tides owns in Texas, almost all were built before 2000. We focus on investment, brokerage, and development. Tides Equities continues to add to their team of real estate professionals, with additional plans for hiring in both the short and long term. What was once a 2.5 percent loan has quickly become a 4.5 percent deal. It is kind of a worst-case scenario when you buy the properties. Tides Equities is staying active even as multifamily market slows Tides own projections show the firm was not covering its debt service on the property. Contact. Consequently, even a small change or break will cause fish to move from one location to another. | Southwest Pass (25 mi.) Presentation of portfolio performance and KPIs to ownership and/or advisory committees as needed.