Circle Capital Partners - a new Miami-based real estate investment venture specializing in the acquisition, development, and capital raising for strategic multi-family, retail, short-term rental, and mixed-use projects – has closed deals worth more than $215 million since its launch by industry veterans who have completed more than $3.5 billion in property transactions throughout the United States.
The new company is headed by co-founders Todd Linden and Richard Valdes, who have more than 30 years combined experience and expertise throughout the real estate and investment sector, institutional capital, general partner equity placement and more. Circle Capital's initial acquisitions include:
- The GPI Apartment portfolio of 1,237 units in Houston for $90 million.
- The Vue, a 314-unit complex in Lexington, Kentucky for $31.7 million.
- The Lacrosse Apartments in Rapid City, South Dakota for $26.4 million.
- Woodlake Apartments in Sioux City, South Dakota for $30 million.
In South Florida, Circle Capital most recently acquired the 178-unit The Vue apartment complex in Davie for $36.5 million.
As part of these deals, the properties undergo comprehensive updates and enhancements, including renovations to individual apartment interiors, as well as to community pools, clubhouses, lobbies and other common areas.
"These first projects as Circle Capital highlight our value-add strategy to best serve investors, maximize resident living experiences and strengthen the communities in which we do business," Valdes said.
"It's been exciting to work together with Richard as new partners on all these recent acquisitions, especially to complete a deal so close to home here in South Florida," added Linden.
Other area projects closed by Linden and Valdes shortly before forming Circle Capital Partners include the Bella Apartments in Sunny Isles for $7.5 million, and 250 Collins Avenue in Miami Beach for $14.6 million.
Linden and Valdes target properties typically built in the 1970s or newer, and would benefit from upgrades and renovations to individual units, as well as enhanced common areas and amenities. To help ensure success in these ventures, the new company has established strategic partners with top companies in financing and property management such as Greystone, Weller Management and others.
Circle Capital focuses on "Tier 1 and Tier 2 high-growth markets" with established competition, high barriers to entry, a growing population, strong employment growth, and otherwise healthy economies.
These markets include the company's South Florida base, as well as throughout the Southeast, Midwest and more. New deals by Circle Capital expected to close soon include properties in New York and South Florida.
"Miami is our headquarters and our home, and we're excited to do business here, as well as build strong ties to all the communities in which we invest," said Linden, who is a native of Miami, a graduate of Florida State University and has served on the board of Make-A-Wish Foundation South Florida and the Nova Southeastern University Young Entrepreneur Council.
In addition to a master's degree in real estate from Georgetown University, Valdes is a graduate of Florida International University in management and international business, and serves on FIU's advisory board for the Hollo School of Real Estate.
"We're committed to establishing strong, earnest relationships across all facets of our work that benefit the broad range of stakeholders," said Valdes. "We look forward to growing and building on this success with dynamic new opportunities as Capital Circle Partners for many years to come."
For more information, visit www.circlecapitalpartners.com.