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Bridgewater Property

Orlando FL

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Number Of Units

344

Acquisition Price

Acquisition Date

1/25/2024

Hold Period

3 years

Project Level Projected IRR

24.02%

Project Level Projected EM

18.3x

Property Photos

A children's playground featuring a blue slide and climbing structures, shaded by large fabric canopies, set against a backdrop of trees and residential buildings.
Aerial view of a vibrant green outdoor pickleball court adjacent to a parking lot and a small gazebo, surrounded by low residential buildings under a clear blue sky.
Modern kitchen interior with white cabinetry, black appliances, multicolored backsplash, and granite countertops. the room has bright lighting and wood-style flooring.
Exterior view of bridgewater apartments with a large blue storage container in front, set against a clear sky and surrounded by palm trees.
A professional dog grooming station featuring a stainless steel bathtub and an adjacent grooming table with a restraint loop, set against a clean, neutral-colored wall.
A sunny outdoor swimming pool at a residential complex with surrounding apartment buildings, deck chairs, and lush palm trees under a clear blue sky.
A sunny view of a row of two-story suburban townhouses with white and gray siding, featuring palm trees and parked cars in the front.
A modern residential building with a light exterior, featuring a central fountain on a reflective lake under a clear blue sky.

Investment Highlights

Well Maintained Asset Acquired From a Motivated Seller

  • This asset was acquired from a motivated seller well below their cost basis. The seller has invested $3.2 million in capital improvements since acquiring the asset and the property is very well maintained.

Low Basis and Strong In-Place Yield

  • The metrics are highly favorable with an in-place cap rate of 7.12%.

Positive Leverage Day One with Favorable Financing

  • We have obtained a 5-year fixed rate loan at 6.24% that is interest only for 24 months and open to pre-pay after 36 months. With a going in cap rate of 7.12% we have positive leverage immediately and a debit service coverage ratio of 1.53x and the asset will immediately produce distributable cashflow.

Great  Location with Access to Employers

  • As of October 2023, Orlando has a 2.9% unemployment rate.
  • The Property is near strong employment centers.
    • 10 minutes SE of Downtown Orlando – 13,200,000 SF of Office.
    • 12 minutes N of the Airport – 50,178,000 annual passengers
    • 13 minutes E of Orlando Health Regional Medical Center – 1.3K beds
    • 15 minutes W of Lockheed Martin – 8,000 employees
HubSpot Contact Form
An accredited investor must meet one of the following: 1) An annual income of at least $200,000, or $300,000 when combined with spouse’s income; 2) Holds a valid Series 7, 65, or 82 license; 3) Has a net worth of >$1 million, excluding value of a primary residence.


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