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At this moment the current water temperature in Empire Jetty is -. Tides Equities inks $80M deal for 650-unit Dallas apartment complex Read More . The firm took a $62 million mortgage on the property, which had an interest rate of 2.9 percent upon origination, according to Morningstar. We always try to underpromise and overdeliver, he said. And I believe most of our peers are probably in a similar situation, Andrade said. Contact. Otherwise, wed all be partying.. A higher cap rate tells investors theyll score greater returns. But the rental market isnt what it was a year ago: The median rent on a one-bedroom in Fort Worth hit a high of $1,275 a month in October 2022 but has been dropping since, to $1,227 a month in January. #realestate#investing#valueadd#multifamily#apartments#Mesa#Arizona#realestate#commercialrealestate#cre. Remember, look for the comfort zones and you will find the fish. In Nevada, one of the more notable transactions of the year was the purchase of a 787 unit, three-property portfolio for $169,750,000. Sunrise is at 6:03am and sunset is at 7:37pm. In Q1 of this year, the company acquired Del Mar Terrace, the largest market-rate apartment community by unit count in the Phoenix MSA, in a $255,000,000 transaction. Showing low and high tide times for the next 30 days at Los Angeles. Tides had projected $5.4 million in net cash flow once it completed its renovations and leased up the property, data from the ratings agency shows. It was built in 1990 and gives off the vibe of a La Quinta. Meanwhile, the debt service on the property jumped with soaring interest rates. Tides Equities and CIM Group buy Del Mar Terrace in West Valley for Servicing the debt there wouldnt be a problem if Tides could keep raising rents. This year, the firm was the 37th largest owner of multifamily properties in the U.S., with almost 32,000 units, a 65 percent increase from the prior year, according to the National Multifamily Housing Council. Without the higher rents, Tishman and BlackRock couldnt reach their projected net operating income and make their interest payments. 4/29/2023: The tide now in Empire Jetty, LA is rising. Tides Equities Location 11601 Wilshire Blvd Fl 5, Los Angeles, California, 90025, United States Description Read More Industry Finance General Finance But thats why rate caps exist.. Stay up to date with what you want to know. Rents in the Dallas-Fort Worth metroplex have actually declined since Tides made that deal. In one instance, Tides gave one cap rate figure to its lender and another to potential investors, making it difficult to determine how much investors could lose if a deal were to go upside down. With Kia at the helm, Tides counts more than 600 individuals as his investors in addition to family-office and private-equity capital, including major firms such as KKR. This Website features information, materials,products, content, images, links,and services provided by That's possible because the company typically secures its financing in advance.