Miami, FL. (June. 1, 2018) – Westside Capital Group (“Westside”), a real estate investment holding firm, has received city approval to rezone a vacant 3.72-acre parcel on Winter Haven’s South Lake Howard Drive (the “Parcel”) for high-density multi-family residential to expand Lakeshore Club, a property that Westside acquired together with the Parcel in July 2017.
Lakeshore Club is a 50-unit multi-family property and the proposed expansion will result in up to additional 130 and 55 units on two parcels, respectively, adding 185 units in total. Lakeshore Club will then become a 235-unit community with covered parking and ample amenities including boat slips, pool, sauna, tennis court, gym, club house, stunning water views and gated access.
Westside is a diversified real estate investment holding firm with a proven track record in real estate private equity investments, construction & development management and venture capital investments. Founded in 2016, Westside leverages big ideas in small timelines out of its US and European offices. Westside generates attractive returns on capital by defensive, value-added investing in traditional real estate asset classes. It targets cash-flowing properties at discounts to replacement costs with additional non-underwritten upside. It creates value through active management and targeted capital initiatives. Westside establishes individual investment platforms within the firm with a particular desire to strengthen economies of scale, operating expertise, and exit optionality. It’s strategy within asset classes, capital structures and markets, shifts based on macro-economic considerations.