With the recent acquisition of the Shoppes of Rolling Hills in Davie, Florida, Next Realty Fund X, LP became substantially invested. The retail center near Ft. Lauderdale, Florida was the fifth acquisition for the Fund.
Our Multi-Solution® strategy emphasizes diversification across geography, asset classes, and revenue streams. Following this strategy, Fund X, LP investments include a mix of retail, office, and multifamily properties in the Midwest, Mid-Atlantic, and Southeast.
The diverse Fund X portfolio includes:
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- Dolphin Square, Wauwatosa, WI: Next Realty launched Next Realty Fund X, LP with the 64-unit acquisition of Dolphin Square Apartments in suburban Milwaukee (Wauwatosa). Since acquiring the property, Next has continuously executed its renovation plan as units become available, allowing for commensurate rent increases.
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- Essex Square, Madison, WI: Essex Square is a multi-tenant neighborhood center. The center is comprised of three buildings, including a main single-story building, a two-story mixed-use building, and a 399-square-foot freestanding drive-thru facility. The property features a diverse mix of medical, retail, restaurant, and convenience-oriented tenants. Essex Square has enjoyed strong historical occupancy, with many of the current tenants in occupancy for 20+ years.
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- Roosevelt Commons, Elkridge, MD: The 14,344-square-foot, four-story office building features 52 individually furnished executive office suites. Shortly after the acquisition, an affiliate of Next Realty, who had been a tenant at the property, took over on-site property management and leasing.
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- Waterstone Center, Cincinnati, OH: The 161,781-square-foot shopping center was acquired through a joint venture between affiliates of Midland Atlantic Properties and Next Realty. Tenants at the fully leased property include Best Buy, Ross Dress for Less, Michaels, Old Navy, Petco, and Verizon, and shadow anchors Target and Costco.
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- Shoppes of Rolling Hills, Davie, FL: The Shoppes of Rolling Hills is a multi-tenant “neighborhood” shopping center. With approximately 17,000 square feet on 1.69 acres, the property is currently 100% leased and features a diverse mix of convenience-oriented tenants. This asset represented an attractive opportunity to secure an in-fill property in a robust retail submarket offering the potential for future rent growth and appreciation.
