Fort Mill, South Carolina
Unique Loom Distribution Center
260,000+ square feet, purchased, renovated, leased, and sold to the tenant - $12,800,000.
Tidewater Capital became aware of this property through our extensive industry contacts and quickly realized the potential in this empty manufacturing building. Although it had been on the market for over a year and overlooked by many, the unlocked value was clearly visible to the trained eye. Tidewater partnered with a large capital partner to structure the acquisition and helped negotiate the purchase price down from a list of $9,770,000 to a more reasonable $8,400,000.
We simultaneously assisted in creating a redevelopment plan to turn this former manufacturing plant into a state-of-the-art distribution center with the renovation investment of over $1 million. The business plan calls for upgrading the roof and HVAC systems, demolition of unneeded internal structures, addition of extra docks, new landscaping as well as office reconfiguration. This is the largest property, to date, for Tidewater, and is destined to become a trophy property in the Charlotte MSA. The property was subsequently sold, achieving an IRR of 18% during our holding period. This reflects the value that Tidewater is able to bring out of this formerly empty building. As project and facility manager, Tidewater oversaw repair and renovation of the:
Tidewater Capital became aware of this property through our extensive industry contacts and quickly realized the potential in this empty manufacturing building. Although it had been on the market for over a year and overlooked by many, the unlocked value was clearly visible to the trained eye. Tidewater partnered with a large capital partner to structure the acquisition and helped negotiate the purchase price down from a list of $9,770,000 to a more reasonable $8,400,000.
We simultaneously assisted in creating a redevelopment plan to turn this former manufacturing plant into a state-of-the-art distribution center with the renovation investment of over $1 million. The business plan calls for upgrading the roof and HVAC systems, demolition of unneeded internal structures, addition of extra docks, new landscaping as well as office reconfiguration. This is the largest property, to date, for Tidewater, and is destined to become a trophy property in the Charlotte MSA. The property was subsequently sold, achieving an IRR of 18% during our holding period. This reflects the value that Tidewater is able to bring out of this formerly empty building. As project and facility manager, Tidewater oversaw repair and renovation of the:
- Roof
- HVAC
- Sprinklers
- Warehouse and office lighting
- Landscaping
- Drainage repairs
- Cleaning
- Ongoing Routine Maintenance
This residential quadplex in the beautiful town of Hartsville, South Carolina represents our first residential property in South Carolina. We believe the surrounding area has excellent growth potential and that the property will increase in value due to our management and maintenance of it. Since our purchase, the we saw the market peaking, and we put it on the market. In just over two weeks we sold it for a 3.8X return. We owned it for one year.
We have developed a property plan that includes:
We have developed a property plan that includes:
- Creation of a budget
- Design and management of renovation services
- Roof replacement, HVAC, and infrastructure inspection and ongoing maintenance
- Complete landscaping design and grounds maintenance
This residential quadplex is in the quaint town of Bamberg, South Carolina. It is a fully leased, beautiful property. The town of Bamberg is very old, and has many historical structures. This area of South Carolina has a robust potential with rental demand far outstripping residential supply. Part of our plan is to upgrade various components of the building which will increase the value of the property over our ownership time frame. Before our work began, we saw the market was at its peak, and we decided to list it. Within three days we had an offer that was 3.2X our original investment. Our holding period was seven months.
The property plan includes:
The property plan includes:
- Creation of a budget
- Design and management of renovation services
- Roof repairs, new exterior and interior lighting, floor replacement and various other improvements
- Complete landscaping design and grounds maintenance including removal of several large overhanging limbs
In addition Tidewater owns a portfolio of residential houses, duplexes, and manufactured houses in multiple other states. Since our move to Charlotte, we are transitioning our portfolio to Carolina owned properties by selling the non-Carolina items and financing the purchases. We recognized that the market was at a top, entering a bubble phase, and we sold almost all of our properties for a significant return.
If you our your organization has a need for an experienced partner to help you obtain the maximum value from your properties, we invite you to contact us using the button below and we will be happy to work with you to obtain the maximum value from your property.
If you our your organization has a need for an experienced partner to help you obtain the maximum value from your properties, we invite you to contact us using the button below and we will be happy to work with you to obtain the maximum value from your property.