$7.5 Million Acquisition

January 2014

FIDES Capital Partners, LLC (“FIDES”) announces its second and third joint ventures with a family office client on the acquisition of two apartment properties totaling 66 units with a total capitalization of $7.5 million.  The properties are located in Naperville and Downers Grove, IL.  FIDES was responsible for sourcing, developing the asset plan, underwriting and financing the transaction.  “This is a typical value-add investment for us,” said Gregg Handrich of FIDES “as both properties had complacent property management with rents that were substantially below the competition.  We are planning to invest additional capital to upgrade the interiors and exteriors of the properties, and we will completely rebrand the assets.  Although FIDES was not the high-bidder, the seller was confident that FIDES would close the transaction.”  FIDES will asset manage both properties and will oversee the capital upgrade programs.

$4.2 Million Acquisition, Geneva IL

October 2013

FIDES Capital Partners, LLC (“FIDES”) announces a joint venture with a family office on the acquisition of a $4.2 million, 56-unit broken condominium property in Geneva, IL.  FIDES was responsible for sourcing, underwriting, and financing the acquisition.  FIDES also developed the asset plan, which includes converting the asset to a straight multifamily rental property.  “This acquisition was very challenging” said Gregg Handrich of FIDES “as it entailed the negotiation of a short-sale agreement with the prior owner and lender, and the negotiation and purchase of the previously sold condominium units.  FIDES was not the high bidder, but the owner and seller were comfortable that FIDES could understand and close this complicated acquisition.  The upside in improving the management and physical condition of the asset will be worth the effort.”  FIDES will oversee the value-add strategy which includes upgrading both the interior and exterior of the asset as well as re-branding and upgrading the property’s position in the market.

$16.5 Million Equity Closing, Indianapolis, IN

July 2013

FIDES Capital Partners, LLC (“FIDES”) announces that it has served as the financial advisor on the $16.5 million acquisition of Lakewood Lodge Apartments, a 454-unit multifamily community in north suburban Indianapolis, IN.  FIDES worked on behalf of the acquirer, an affiliate of The RADCO Companies, to source and develop the initial strategic asset plan to turnaround the property, which was acquired from the Lehman bankruptcy estate.  “This acquisition marks the third deal we have sourced for RADCO.  All said, about $65 million of deals within 6 months.” said Gregg Handrich of FIDES.

$19.0 Million Equity Closing, St. Charles, IL

June 2013

FIDES Capital Partners, LLC (“FIDES”) announces that it has served as the financial advisor on the $19.0 million acquisition of Covington Court Apartments, a 208-unit multifamily community in the Chicago suburb of St. Charles, IL.  FIDES worked on behalf of the acquirer, an affiliate of The RADCO Companies, to source, underwrite and develop the blueprint for the turnaround strategy of the property.  “This acquisition coupled with the Brittany acquisition in Geneva, which we were also involved with, gives RADCO an excellent market presence that will allow them to efficiently and effectively operatie and rebrand the two properties.” said Gregg Handrich of FIDES.

$28.0 Million Equity Closing, Geneva IL

February 2013

FIDES Capital Partners, LLC (“FIDES”) announces that it has served as the financial advisor on the $28.0 million acquisition of Brittany Court Apartments, a multifamily community in the Chicago suburb of Geneva, IL.  FIDES worked on behalf of the acquirer, an affiliate of The RADCO Companies, to underwrite and develop the turnaround strategy for the property.  FIDES will also assist in the going-forward asset management of the 226-unit Class B property.  “There aren’t many opportunities in the market that offer value day one.  Brittany does not require significant capital, yet provides strong existing cash flow and additional upside that can be achieved through RADCO’s proven operating, re-branding and marketing strategies,” said Greg Longoria of FIDES.