Miami, FL. (March. 23, 2018) – Westside Capital Group (“Westside”), a real estate investment holding firm, has acquired Lakeshore Club in Winter-Haven, Florida. The 50-unit community is located in Central Florida, within a 15-minute drive from Legoland and 30-minute drive from Orlando. Lakeshore Club was built in 1985 as an apartment building comprised of one, two and three-bedroom units.
Westside plans to renovate all interiors and expand the property by developing approximately 130 additional units. Interior upgrades will focus on delivering top of the class apartment finishes. Exterior improvements will include a boutique signature lobby, dog park, children’s playground, tennis court, landscape improvements and structural upgrades.
“We are thrilled to add Lakeshore Club to our portfolio,” said Jakub Hejl, Westside’s Founder & President. “The property is in a great location 2 minutes from the vibrant Winter Haven downtown, in close proximity to Legoland and built to a great institutional condo standard.”
The transaction closed in July 2017. The sale price was not disclosed. Winter Haven has seen tremendous job growth over the past seven years in part fueled by Legoland Entertainment Park as well as the relocation of Legoland’s North-American communications headquarters to downtown Winter Haven in 2011.
Westside is currently pursuing additional investment opportunities throughout Florida and throughout the US. The firm will continue to target strategic value-add opportunities that can be integrated along the real estate value chain with other Westside investment holdings.
ABOUT WESTSIDE
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. For more information about Westside, please visit www.westsidecg.com
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Email: msherwood@krepspr.com
