CapRate CRE

07/04/2021

Happy Independence Day!!

05/20/2021

This was a tough deal but our team gets things done! Second time selling this asset in 2 years. Difficult assumption needed to be performed but we located the right buyer who could take over the agency debt and GOT IT DONE!!! 105 units at $7.6M

03/04/2021

Happy 176th Birthday Florida!!!

01/01/2021

Happy New Year and a huge Thank You to every client who placed their trust and faith in our team this past year! We look forward to working with everyone in 2021 to advise on@your commercial real estate investment goals! #2021

11/04/2020

New to Market. Lake Worth, FL. 27 units in 9 contiguous buildings. Hard to find TRUE VALUE ADD opportunity. Rents currently 20%+ below market, needs management and some renovations. Principals only first 30 days. Contact CapRate CRE for info!

11/02/2020

CLOSED - KALMIA APARTMENTS

CapRate CRE has once again performed for our clients in this difficult economic environment. Our firm’s culture of creating strong, long-term and profitable relationships allowed the seller to utilize CapRate CRE’s extensive relationships and vast reach, to successfully sell this asset where other firms had failed - twice.

Issues were masterfully handled by our team, specifically Mark Evans, who worked w/ the buyer, seller, and the town of Lake Park to clear issues, including missed city inspections and back payments. By personally visiting the city, obtaining and hand delivering required documents, organizing payment and coordinating 2 city inspections in the matter of a week, Mark prevented any retrade or contract extensions.

This extra effort and our culture of going above and beyond for our clients, allowed the deal to stay on track and close in the agreed upon time frames and the agreed upon price and terms. Price $1,250,000, hard deposits, 14 day DD, 30 days contract to close.

With the Coronavirus having taken a toll on the entire real estate market, CapRate CRE continues to produce excellent results for our clients & continues to get deals done!

10/30/2020

CLOSED - KALMIA APARTMENTS / $1,250,000.00 / 10 UNITS

With the closing of Kalmia Apartments in Lake Park, FL, CapRate CRE has once again performed for our clients in this difficult economic environment. Following the firm’s culture of creating strong, long-term and profitable relationships, with private party investors based on market knowledge, trust and ex*****on, the seller of Kalmia Apartments utilized CapRate CRE’s extensive strong relationships and vast reach in the market place, to successfully sell yet another asset.

The seller wanted to move on from this holding to concentrate on other assets. Additionally, the seller wished to secure a strong offer with favorable terms but wanted to have a quick and quiet transaction. He initially tried working with other brokers in the market who produced less than stellar results and buyers who were not properly vetted leading the seller to be tied up in contract twice and experience contract fall out. The seller, who we have been in touch with for multiple years, came to us in frustration and asked if we could produce a truly qualified buyer who would perform. And that is exactly what we did by producing an all-cash buyer who placed hard deposits and closed in a 30-day period.

Issues were masterfully handled by our team, specifically Mark Evans, who worked with the buyer, seller, and the town of Lake Park to clear issues which included missed city inspections and back payments that must be made. By personally visiting the city, obtaining and delivering required documents, organizing payoff and coordinating 2 city inspections in the matter of a week, Mark prevented any retrade or contract extensions. This extra effort and our culture of going above and beyond for our clients, allowed the deal to stay on track and close in the agreed upon time frames and the agreed upon price and terms.

With the Coronavirus having taken a toll on the entire real estate market, CapRate CRE continues to produce excellent results for our clients and continues to get deals done!

10/28/2020

Always a great time celebrating another closed deal! Big congrats to Mark Evans on his closing of Kalmia Apts. 30 day, all cash, quick close! Guy is crushing it!

05/25/2020

Our entire team would like to thank and honor the lives of our fallen heroes. Those that gave the ultimate sacrifice to protect our freedom and way of life. Thank is birthday enough. Your sacrifice deserves the utmost respect and we gladly give it. Thank you!!

04/16/2020

Little snippet from South Florida Business Journal . A $9.5M sale, pulled off during an international pandemic, completed under the ever changing guidelines of Freddie Mac, under new requirements that closed 2-3 days before those new requirements were even posted, at $140,000 per unit which is a market high for this market, would normally get more press but COVID19 rules the day. Proud of the team, Billy Berthiaume and Mark Evans, on the ability to navigate and get this done in unprecedented times!! Watermark MultiHousing has been a client we do 2-4 deals with a year for over 10 years while Tropical Villas, LLC is a new client who has shown their amazing dedication to deals and their ability to perform even in the craziest of times! Huge shout out to our friends at Hunt for working hard with us to get this done. We wish everyone health and safety during these crazy times!!

04/11/2020

https://therealdeal.com/miami/2020/04/10/lake-worth-beach-apartment-complex-sells-for-10m/

The Tropical Villas Apartments in Lake Worth Beach sold for $9.5 million, amid growing interest in the area’s multifamily market. North Palm Beach Gardens-based Watermark Multihousing LLC sold the 68-unit apartment complex at 3440 Rudolph Road and 3431 Helena Drive for $139,705 per unit, accordin

04/09/2020

CLOSED $9.5M
Tropical Villas Apartments in Lake Worth, FL. Following our firms culture of creating strong, long-term and profitable relationships with private party principals based on market knowledge, trust and ex*****on, the seller of Tropical Villas Apartments utilized CapRate CRE’s extensive market knowledge, customized marketing approach and vast reach to successfully sell yet another asset.

Our CapRate CRE Multi-Family Team sold it to the seller in March of 2019 with a master lease, which we negotiated, on it from a large rehab company. After acquisition, seller invested nearly $1,000,000 in renovations: painted all buildings, put in all new irrigation, landscaping, exterior lighting, new parking surfaces and roads and curbing all around parking areas. Around July / August of 2019, the rehab company called and said they are going out of business. We negotiated the breakup of the lease and payout from the master tenants as well as a move out schedule. Once units started becoming vacant (first was the Rudolph side of 28 units), the owner began interior renovations such as painting units, putting in new vinyl wood plank flooring, backsplashes in kitchens, resurfacing countertops, upgrading bathrooms, putting in high baseboards, along with leasing them up to market rents.

We then began to sell it internally and identified the buyer who has assets in South Florida but is located outside of the state. We entered into contract with a large hard deposit and no financing contingency with a short due diligence period and an additional large hard deposit at the end of due diligence. We advised the buyer with regard to selling one of his out of state assets as well to get this capital more than ready during this period. With a contracted closing date of March 15th, the buyer asked for a 15 day extension. He was granted the extension with another large hard deposit.

This unfortunately allowed time for COVID-19 to come to life and cause panic and issues worldwide. We kept things together by working very diligently!! @ Lake Worth, Florida