Granite Capital Group
A distinctive approach to Real Estate investment.
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.
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.
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
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
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.