User:RingNorris/sandbox
Westside Capital Group, also known as Westside, is a diversified real estate investment holding firm [1] headquartered in Miami with additional offices in New York and London[2]. Westside focuses on creating long-term value by integrating direct asset and corporate investments along the real estate value chain. Westside’s real estate portfolio includes multi-family[3], hospitality and other commercial assets both in the United States and Europe.
Westside was founded in 2016 as an opportunistic real estate investment firm by Jakub Hejl [4], who had previously worked at New-York based real estate private equity firms DRA Advisors, LLC [5] and Westbrook Partners[6]. The firm was founded after a series of initial meetings with New York based family offices held on the Upper West Side of Manhattan thus naming the firm Westside Capital Group.
The firm targets cash-flowing assets at discounts to replacement costs with additional upside for value creation. Westside establishes individual operating platforms within the firm with a desire to strengthen economies of scale, operating expertise, and exit optionality. The firm’s existing platforms focus on multifamily residential properties [7] and hotels. Westside’s strategy within asset classes, capital structures and markets shifts based on macro-economic considerations.
The firm’s notable acquisitions include an apartment complex in close proximity to Florida’s Legoland [8] with total project capitalization of $29 million [9], an apartment complex on the Space Coast [10] of Florida with additional development upside at total capitalization of $13 million, an apartment complex in Tampa, FL with total project capitalization of $26 million [11], an apartment complex in the Southeast United States with total project capitalization of $20 million [12], and, among others, an apartment complex in Tampa, FL with a total project capitalization of $42 million. The firm also recently acquired other hospitality and commercial assets.
Aside from real estate private equity activities, the firm announced a new platform focused on user experience and product design within the real estate space in response to increasing importance of user experience[13]. Westside Experience Center is an ecosystem of talent, environment, and solutions, combining the best of creatives, technologists and innovators to change the next-generation real estate experiences for customers, occupiers and tenants. Westside has created this platform to fuel its venture capital program as well as its real estate private equity program.
References
- ^ https://en.wikipedia.org/wiki/Holding_company
- ^ https://www.bloomberg.com/profiles/companies/1651806D:US-westside-capital-llc
- ^ https://www.tampabaynewswire.com/2018/09/10/berkadia-scores-19-43-mm-loan-for-westside-capitals-acquisition-of-tampa-apartment-community-70973
- ^ https://southflorida.citybizlist.com/article/499392/berkadia-scores-1943-mm-loan-for-westside-capitals-acquisition-of-tampa-apartment-community
- ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=11356060
- ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=958433
- ^ https://www.multihousingnews.com/post/westside-capital-buys-jacksonville-property/
- ^ https://en.wikipedia.org/wiki/Legoland_Florida
- ^ https://www.growthspotter.com/news/polk-county-developments/gs-miami-investor-seeks-rezoning-to-expand-winter-haven-apartments-20180402-story.html
- ^ https://en.wikipedia.org/wiki/Space_Coast
- ^ https://www.multifamilybiz.com/PressReleases/8785/Berkadia_Secures_1943_Million_Loan_for_Acquisition
- ^ http://www.ngkf.com/home/about-our-firm/global-offices/us-offices/jacksonville/in-the-news.aspx?d=12474
- ^ https://www.forbes.com/sites/shephyken/2018/07/15/customer-experience-is-the-new-brand/?fbclid=IwAR2_nWTAtF8CFG0eZinrD9xYyL_pbTNkrsy9O9dw1sJ7ELU2dbv-jJNcMmQ#6f6280da7f52