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Portfolio Highlights

Previous Investments

Granite Capital Group

Consistently and distinctively filling a targeted niche

 

The Edge and Rise, Denver, CO

Growth and Income Fund II

Multi-family Portfolio of two companion apartment communities with combined 216 residential units.

Opportunity: Significant deferred maintenance with declining appearance in emerging Class A-/B prime location adjacent to Denver’s Cherry Creek Sub-market. Properties are located within 5 miles of the thriving Central Business District of Denver and just over a mile from the prestigious Cherry Creek Shopping Center

GCG executed a transformational rehab to bring the 1960’s vintage properties from neglected Class C to modern, Class B appeal providing amenities consistent with the upcoming urban energy. Net Operating Income (NOI) has exponentially grown by 192% in less than 6 years.

In order to efficiently and professionally manage the operations of the property at a high standard, Granite Management Group, Inc., or GMG, (an affiliate of Granite Capital Group, Inc. and the General Partner) will provide management services.


The VUE , Denver, CO

Growth and Income Fund III

Multifamily High Rise property with 85 units.

Opportunity: This was a neglected, decayed 1960’s product located in a rapidly emerging growth track close to the Denver Central Business District. Occupancy was down to 80%.

This prime location of Denver’s Cherry Creek sub-market is strategically adjacent to our Rise and The Edge multi-family properties.

A major rehab of interior, exterior, and public areas to upgrade from tired Class C to modernized Class B. We are filling a niche providing Class B product where there was extremely limited supply. The adjacency of our Cherry Creek properties allows additional efficiencies of operations and management. Net Operating Income (NOI) has increased by approximately 206% in less than 4 years.

In order to efficiently and professionally manage the operations of the property at a high standard, Granite Management Group, Inc., or GMG, (an affiliate of Granite Capital Group, Inc. and the General Partner) will provide management services.


Dakota Ridge Apartments, Williston, ND

Bakken Development Fund I

300 unit Multi-family Apartment Development over 35 acres

Opportunity: Extreme shortage of housing for oil workers in a rural landscape with limited building infrastructure to accommodate huge demands.

This project is located adjacent to Williston, North Dakota. Due to hydraulic fracturing activities, the Bakken has become a micropolitan area (a population cluster with fewer than 50,000 people).

Hearthstone and Bella Terra at City Center, Aurora CO

Opportunity Fund III

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Two Multi-family Apartment Communities with combined 664 units

Opportunity: Gap in availability of Class B/C product in growth area of Denver submarket conveniently located proximal to Highway 225 and 18 miles to downtown Denver.

A niche was filled by transitioning the properties from 1980’s stock to updated appeal with complete re-brand, redesign, washer dryer installations with requisite engineering modifications in each unit and gating of community. Net Operating Income (NOI) increased more than 240% with robust increase in rental income and tenant demand.

Victoria Business Park, Long Beach, CA

Growth and Income Fund I

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120,000 square feet of Flex Office/Industrial Park

Opportunity: Proximity to Southern CA ports, previous poor asset management, loss of occupancy and debt overload.

GCG acquired this well located multi-tenant facility at a deep discount to market. Upon acquisition we renovated to accommodate altered market dynamics. Additionally, we re-branded, and re-financed with strong cash flow, all which led to occupancy fulfillment with improved credit tenants.

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