Another win for Freshwater is the $16.5 million acquisition of The Lighthouse Apartaments, a 76-unit community in Kent, WA, a southern suburb of Seattle.
With this purchase, we have almost doubled our portfolio in this market and created new opportunities for our investors. Seattle metro area continues to be a sought-after location with high potential, and we're thrilled to have solidified our presence here.
In the news:
We are celebrating 3 years of being in business by reflecting on the journey it has been. Hard work, long hours, amazing people, new experiences, ups and downs, at times unexpected turns of events, joy of the wins and learnings from the missed opportunities, all of it and more is behind the numbers in this infographic. Happy Birthday, Freshwater Investments! To many more!
Today Freshwater Investments closed the sale of Villa Del Prado apartment complex in Mesa, AZ. We are thrilled to announce 85% cumulative return to our investors over the 32-month holding period. The earnings came out higher than original conservative forecasts, and nothing makes us happier than delivering value to our loyal investor community. We timed the sale just right to execute 1031 exchange and reinvest proceeds into the next project. Perfect way to end the year! Happy Holidays to all!
Villa Del Prado at acquisition
Villa Del Prado at the time of sale
Since starting Freshwater Investments, I often get asked who our investors are.
Reflecting on this question and our recent acquisition of the largest property in our portfolio yet, I am humbled to recognize the variety of our investors’ backgrounds. People of so many different walks of life – engineers and scientists, architects and university professors, talent agents and finance professionals, executives and retirees - trust us to preserve and grow their wealth. Experienced investors or those beginning their journey into investing, people working at Silicon Valley giants like Facebook, Oracle, Box or fearless entrepreneurs, those contributing at a minimum level or more substantial amounts, those seeking stable passive income or interested in portfolio diversification - we are privileged and grateful to work with every one of them.
There are, however, couple traits our investors share - the desire to proactively build financially secure future for their families and the confidence in our investment strategy.
Freshwater Investments is proud to announce the Lamplight Square acquisition - currently the largest property in our portfolio. This was a team effort, and we're grateful to our investors and partners who believed in us and contributed to the success of this transaction. With this acquisition Freshwater portfolio market value has reached the $100 Million mark - a milestone worth celebrating!
Today, I'm reflecting on our recent acquisition and the fact that nothing in life is a coincidence.
A little over 10 years ago upon MBA graduation I flew from Phoenix to San Francisco for a job interview, which took place in the middle of the airfield right by my interviewer's private jet. Little did I know that event on the runway would not only land me my first post MBA job, but also after a few jobs in between would symbolically become a launchpad for my own business in Real Estate investments. If someone told me back then that one day I will buy a multi-million dollar property from the firm I was interviewing with, I would have a hard time believing it, yet couple weeks ago it became a reality (Stinson apartments acquisition in Seattle).
I'm grateful to be on the path I find myself today, appreciate the support of my partners, investors and my family, and certainly look forward to the new adventures.