RESOLUTE REALTY VENTURES
A TMI PROPERTIES & CIC REAL ESTATE GROUP PARTNERSHIP
Resolute Realty Ventures is seeking $130,000,000 (US) for the acquisition and development of grocery anchored retail shopping centers and Multi-family Apartment Communities over the next 18-60 months.
OPPORTUNITY FUND 1
A US RETAIL AND MULTI- FAMILY DEVELOPMENT FUND
Targeting $130,000,000 (US) for the acquisition and development of grocery anchored retail shopping centers, namely Publix, and Multi- family Apartment Communities over the next 18-60 months.
Target markets include the US East Coast major markets
exhibiting the greatest stability and growth potential.
The Real Estate Fund will invest in new store developments for a major supermarket chain (Publix), Core and Value-Add acquisitions and redevelopment of existing grocery anchored shopping centers and select multi-family ground-up development opportunities.
ABOUT THE DEVELOPMENT TEAM
The principals of the Resolute Realty Ventures have more than 55 years of combined experience with over 1.8 million square feet of ground-up development and in excess of $500 million of acquisitions and dispositions of retail and apartment properties for private investors and institutional partners. The Resolute Realty Ventures management team targets in excess of 25% to 30% return on costs of each new opportunistic development project we undertake. Our Core-Plus and Value-Add projects average 15% to 20% in annualized returns.
Having worked together for 15 years, the principals, Turan & Rick, have a strong track record together and are poised for dynamic growth in the current US market.
NEW STORE DEVELOPMENT PROGRAM
Grocery store anchored shopping centers in Florida, Georgia, Tennessee, Kentucky and the Carolinas.
Publix Supermarkets, based in Lakeland, Florida, with over 1,300 stores throughout Florida and the Southeast US, is currently on an expansion program, opening 70-80 new stores per year.
The typical new Publix anchored shopping center will be 60,000 to 80,000 sf at a total development costs of $12,000,000 to $15,000,000. On each new shopping center we develop, we expect to realize a 25-30% return on costs for a profit of $4-5 million on each property.
TYPICAL SITE PLAN
TYPICAL DEVELOPMENT
The typical grocery anchored shopping center development will range from 65,000 sf to 80,000 sf in size at a cost of $12-15 million.
Each new site will be anchored by the 48,000 sf Publix Supermarket Prototype and may have an attached Publix Liquor Store. The balance of the site will be developed as retail of 15,000 sf to 40,000 sf of small store space and/or pad sites for restaurants, banks, automotive uses or medical, depending on the market dynamics.