Success Stories
Members get access to institutional real estate opportunities. Below is a list of Infiniti’s projects.
1. Town Park Lofts, Kingsport, Tennessee - $33million
The perfect blend of urban sophistication and outdoor recreation.
Town Park Lofts is a four story luxury loft building offering 1, 2, and 3 bedroom tastefully designed living spaces boasting expansive 9’ ceilings, hardwood flooring, and start of the art kitchens featuring stainless steel appliances and granite countertops. The property features many luxury amenities such as a clubhouse, 24-hour fully equipped fitness center, resort-style swimming pool, outdoor grilling station, and dog park.
Located in the heart of downtown Kingsport, the property is walking distance to restaurants, art galleries, shopping, live music venues, and Kingsport’s Greenbelt. Activities like hiking, fishing, boating, and bike riding are just moments away in three major nearby parks.
This full ground-up development had a total project cost of $33million. We exited the project in 2019 at $38,3million, returning a 31% IRR to members at the project level.
This luxury apartments project was deemed so crucial to the success of downtown Kingsport’s redevelopment that city officials granted us a deal where we would not have to pay property taxes for at least the next 20 years. The payment in lieu of taxes (PILOT) plan translated into $7.9 million in deferred property taxes.
Furthermore, the project fell in an Opportunity Zone area, allowing our buyer to lock in the ability too never pay capital gains tax on the property if they held it for 10 years or more.
2. Oceane, Siesta Key, Sarasota, Florida - $17,5million
Resort style living on the Gulf of Mexico.
With only six exclusive condominium residences, OCÉANE offers a private and secluded resort-style living experience on Siesta Key, Florida.
OCÉANE sets a new standard of refined, coastal luxury living on the very edge of the Gulf of Mexico. Encapsulating the ultimate contemporary lifestyle, this limited opportunity offering provides an unprecedented scale of living accommodations and luxury finishes never before seen in the Sarasota area.
Units fetched upwards of $4,5million after completion of the project. With an unequal location in the world, set right on the turquoise waters of the Gulf, OCÉANE offered the discerning buyer 4500 square feet of luxury, views, sunsets and lifestyle.
3. Fresenius Renal Care Centre, Columbia, South Carolina - $4million
Zero headaches, cash flow and cap rate compression play.
With structured debt, this NNN lease opportunity paid members a consistent 6% cash on cash yield in USD for 2 years. We then sold it in 2019 for $4,2million, generating a 12% IRR to members over the hold period.
Medical and multifamily real estate continue to prove that they are the most resilient asset classes in the US. One of the many reasons we love renal care centres is the long term leases available with annual escalations from good credit tenants.
4. Woodside Cotton Mill Historic Conversion to 307 Multifamily units
Infiniti acquired the property in 2017 for $4,5million and prepared the property for construction. All the pre-development work was completed in 2018, from design, engineering, historic tax credits, federal and state tax credits and a shovel ready project was sold to a developer for $9,5million in 2019.
The Woodside Cotton Mill, founded by John T. Woodside in 1902, was once the largest cotton mill in the United States - housing over 120,000 spindles, and becoming the center point of what is now known as Greenville’s Historic Woodside Village.
The developer purchased the almost 500,000 square foot mill and commenced construction in September 2019 that converted the mill into 307 luxury apartment units and amenity spaces.
Onsite amenities include conference rooms, office spaces, a 24-hour fitness center, yoga room, club room, wine tasting room, and management offices. Ancillary buildings on site will be transformed into a cafe, event center and future commercial spaces including a brew-pub. The property’s exterior site will host a state-of-the-art swimming pool and pool pavilion, as well as a dog park and grilling area. This unique living space will fetch higher-than-usual rents for being an incredible place to be.
5. Alturas Embry Hills - 140 Class B units in Atlanta.
Atlanta Georgia, 140 units – Partnered with Liquid Capital, a sophisticated Sponsor group from New York that sources multifamily value-add projects in the south-east of the US. Infiniti brought 52% of the capital. Liquid Capital raised 48% of the capital. Infiniti participated in the deal structure, the due diligence and the project planning for the value-add process where we renovated 25 of the 140 units internally, did full exterior renovations, replaced roofs, renovated the leasing office, the gym, the soccer field, dog park and pool area. We exited the project successfully in April 2021. Bought for $18,2million and exited at $24,2million.