Elmdale Partners
Joint Venture
Opportunity
Get Connected
Our Investment Strategy
IRR
multiple
Who We Are
The Elmdale Partners Advantage
Proprietary
Deal Flow
Unique deal flow pipeline
consistently coming through the numerous components of the Elmdale Partners platform
Network of relationships and deep market knowledge developed over decades of real
estate investment experience
Process
Experienced management team with a proven track record in the acquisition, value-add and management of self-storage and multifamily assets
Vigorous evaluation, underwriting and due diligence systems in place to
allow for disciplined and efficient asset evaluation
Implementation
Ongoing asset performance
monitoring to allow for real time assessment of project performance and ability to address
changing market conditions
Real-time proprietary investor
reporting system and direct access to the management team
What We Do
Are you Ready for An Introduction?
Opportunity: Programatic JV
OBJECTIVE: Continuation of Elmdale Partners prior investment activities with a dedicated capital base allowing for a focus on sourcing and executing opportunities that deliver consistently high returns
Typical
Investment
$3-15 Million
Preferred
Return
8%
Target
Gross IRR
20%+
Management Team
Menash Zadik
- COO – Elmdale Partners
- Regional President – Invitation Homes, a Blackstone portfolio company
- Founder and CEO – Rising Realty, a real estate group with operations in IL, FL, AZ and CA
Jim Sayegh
- Partner – Elmdale Partners
- Owner – JJSC&M
- SVP Development – Cummins Group
Adam Freeman
- Co-Founder, President & CFO – Elmdale Partners
- Principal – The Endeavor Companies
- Principal – New Trier Partners
- Associate – Babcock & Brown Merchant Banking Partners
- Senior Analyst – Donaldson, Lufkin & Jenrette
Tom Bretz
- Co-Founder & CEO – Elmdale Partners
- CEO – Century 21 Affiliated (largest C21 franchise in world)
- SVP Investments – The Clover Leaf Group
- SVP Investments – Compass Properties
Case Studies
Chicago, Illinois
Address:
Number of Units:
Rentable Space:
Purchase Date:
Purchase Price:
Est Market Value:
Current Occupancy:
4700 North Racine, Chicago, IL
48 micro-units & 1 commercial space
24,000 sf
2.28.2019
$2,750,000
$8,100,000
92%
Address: 4700 North Racine, Chicago, IL
Number of Units: 48 micro-units & 1 commercial space
Rentable Space: 24,000 sf
Purchase Date: 2.28.2019
Purchase Price: $2,750,000
Est Market Value: $8,100,000
Current Occupancy: 92%
- Converted 63 room SRO built in 1924 into 48 micro-units
- Average unit size of 200 sf
- Created market-friendly floor plan
- 16 stacked units on 3 upper floors with a unit mix of 33 efficiencies and 15 one-bedroom units
- Includes 2,800 sf of first floor retail (rented at modeled rent to a laundromat)
- Transit Oriented Development less than one-eighth of a mile from the CTA Red Line
- Construction completed in July 2020
- Self-performed as GC and brought project in at budget and in less time than projected
- Elmdale Partners sourced this opportunity through its internal network and has achieved stabilization well under the initially projected two years with accompanying above model returns
Crown Point, Indiana
Address:
Number of Units:
Rentable Space:
Purchase Date:
Purchase Price:
Est Market Value:
700 Madison St., Crown Point, IN
302
37,400 sf
04.18.2018
$1,800,000
$3,800,000
Address: 700 Madison St., Crown Point, IN
Number of Units: 302
Rentable Space: 37,400 sf
Purchase Date: 04.18.2018
Purchase Price: $1,800,000
Est Market Value: $3,800,000
- Facility has 7 buildings and a total of 302 units
- Unit sizes range from 25 sf to 300 sf
- Mix of climate-controlled, and non-climate-controlled units
- 24/7 access: controlled auto-gate entry, cameras
- Immediately implemented technology and revenue-enhancing improvements aimed to grow profitability via: self-serve kiosk, online presence, pricing engines, cameras and insurance
- Currently another 11,000 sf climate controlled building being converted to rentable space, replacing unused RV parking area
- Elmdale Partners leveraged its local C21 presence in Crown Point to obtain zoning relief to increase the rentable space
- Elmdale Partners has delivered a faster lease up at higher rates than originally modeled
Merrillville, Indiana
Address:
Number of Units:
Rentable Space:
Purchase Date:
Purchase Price:
Est Market Value:
3950 West 73rd, Merrillville, IN
245
34,400 sf
07.31.2018
$3,100,000
$5,925,000
Address: 3950 West 73rd, Merrillville, IN
Number of Units: 245
Rentable Space: 34,400 sf
Purchase Date: 07.31.2018
Purchase Price: $3,100,000
Est Market Value: $5,925,000
- Facility comprised of 6 non-climate controlled buildings, totaling 243 storage units
- Unit sizes range from 25 sf to 450 sf
- 24/7 secure access through gate and camera technology solutions
- Technology improvements include self-serve kiosk, internet marketing and presence, pricing optimization engine
- Phase 1 expansion of 18,000 sf climate controlled in 2 buildings at completion
- Phase 2 expansion will include additional 46,800 sf climate controlled in 4 buildings (2 more identical phases to Phase 2 are entitled)
- Prior to closing, worked through complicated PUD zoning amendment process with Merrillville to allow for climate controlled storage while increasing overall permitted density to 190,400 GSF and still maintaining the rentable parking area for cars, RVs and boats
- Elmdale Partners has achieved higher rental and occupancy rates than originally projected leading to increased investor returns
Huntley, Illinois
Address:
Number of Units:
Rentable Space:
Purchase Date:
Purchase Price:
Physical Occupancy:
11200 Kiley Drive, Huntley IL
594
62,175 sf
10.30.2020
$9,000,000
35% (92% lease up projected within 24 months)
Address: 11200 Kiley Drive, Huntley IL
Number of Units: 594
Rentable Space: 62,175 sf
Purchase Date: 10.30.2020
Purchase Price: $9,000,000
Physical Occupancy: 35% (92% lease up projected within 24 months)
- Largest self-storage asset purchase to date
- Built in 2019
- Unit sizes range from 25 sf to 450 sf
- Mix of climate controlled, drive-up climate controlled and non-climate controlled units
- Fully secured facility with 24-hour access and cameras
- Broken partnership opportunity sourced through an Elmdale Partners relationship
- A member of the Elmdale Partners team was previously involved with this project providing valuable insight which will provide the ability to address prior operational issues quickly and effectively
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Legal Disclaimer
This presentation is not an offering to purchase shares or units of the company and/or an offering to invest through other means in the activities of the company, or an invitation to receive such offers.
Any offer to invest in the company or its activities will be subject to applicable laws, including laws governing capital market investing, and in accordance with any legal documents and agreements the
company will be part of and subject to.
The information included is not intended to be a full and/or complete analysis of the subject matter, or to encompass all the necessary information needed to make an investment decision. The information included is general in nature.
Contact Us For
More Information
David Bland
Managing Director
TermSt.
303-888-1115
dave@termst.com