Tyler received a Bachelor of Business Administration degree from Drexel University. Build and maintain positive relationships with property management teams. We additionally point out in the chart the periods of greatest activity during the year with a big blue fish on the period bar + info, USA:AL | CA | CT | DC | DE | FL (east) | FL (gulf) | FL (west) | FL (keys) | GA | LA | MA | MD | ME | MS | NC | NH | NY | OR | PA | RI | SC | TX | VA | WA, Bastian Island (4 mi.) Tides Equities focuses on acquiring multifamily assets with value-add potential across their target markets, and applies a standardized approach to enhance operational efficiencies and decrease variables in each investment. The tide chart above shows the height and times of high tide and low tide for Los Angeles, California. hen the firm bought Tides on Oakland Hills, its starting interest rate on the acquisition loan was 4.85 percent. Tides in Los Angeles, CA for Today & Tomorrow. ndrade, now 32, was working in acquisitions for TruAmerica Multifamily, an L.A.-based Class B specialist, while Kia, also 32, worked in asset management for Benedict Canyon Equities, another West Coast multifamily investor. ides says it typically only underwrites for 3 or 4 percent rent growth, and that even in markets that saw double-digit rent increases, it never underwrote anything more than 5 percent year-over-year growth. Top editors give you the stories you want delivered right to your inbox each weekday. | Quatre Bayous Pass (15 mi.) Tides Equities was in escrow on seven Valley apartment . The company culture is very positive and team-oriented, and the immense growth trajectory provides virtually uncapped opportunity for upward mobility upon proving merit. Tides Equities Sells Inland Empire Apartments at 40% Profit California investment firm Tides Equities has made yet another acquisition in the Dallas-Fort Worth area, this time snapping up the 423-unit Solaris apartment community in Dallas. | Bayou Rigaud (Grand Isle) (22 mi.) High 57F. Another secret of Kia's is his attention to location. You can unsubscribe from these emails at any time. Tides Equities amassed a massive portfolio in an era of low interest rates and a booming rental market. For the year, Tides Equities was the 6th most-active buyer of multifamily properties in the United States. Create and implement business plans and objectives, marketing, leasing, and renovation plans along with operational and capital improvement investment strategy for each asset, including budgets, forecasts, monthly performance reports. Tides was expecting to sell the property at a cap rate of about 5.25 percent, he said. For the year, Tides Equities was the 6th most-active buyer of multifamily properties in the United States. He's been checking those boxes since he got a start in Phoenix, which became home to some of the company's bread-and-butter investments. Tides continues to believe in the sustained growth of the markets we choose to operate in as they have shown strong underlying fundamentals, while the widespread supply and demand imbalances in housing remain. Units: 380 Acquisition Date: August 2019. Cities must be fun, affordable, ripe for in-migration and positioned for job and wage growth, he said. #multifamily #multifamilyinvesting #owneroperator #tidesequities #top50, We are thrilled to announce the newest addition to the Tides Team,Micah Worm, as Senior Asset Manager in Texas! Compile periodic and regular market and demographic reports. All of the pain thats occurred in 2022 is just from rising mortgage rates, Tides Andrade said, adding that renter demand hasnt waned. Visit/travel to all properties within the portfolio to oversee the execution of operations, and property management. Phoenix is in the top five markets in the country.". We are pleased to announce the refinance of The Tides at Downtown Chandler. | Independence Island (20 mi.) LOS ANGELES--(BUSINESS WIRE)--Tides Equities has continued to expand its footprint in 2022. A higher cap rate tells investors theyll score greater returns. They were betting on the capacity to raise rents with minimal renovations, said the head of a rival investment firm familiar with Tides pitches. Just three years ago, Tides owned $2 billion in the apartment properties. Contact. The solar transit will be at 12:55:43 pm. Zoe Purcell - Transactions Senior Ana.. - Tides Equities - ZoomInfo In the first half of the year, the firm closed 33 transactions, accounting for over $2.3B. Although in most places we get a value very close to the actual sea water temperature, it may not be accurate in certain areas. The firm specializes in value-add multifamily real estate throughout the Western United States. Tides, run by Sean Kia and Ryan Andrade, bought the apartment complex for $72.2 million in 2019. Here at Tides, Melissa will be responsible for streamlining operations to maximize the performance of our portfolio. Time Equities, Inc. does not require that prospective homebuyers show identification, sign an exclusive broker agreement or be pre-approved for a mortgage to view listed properties. Sign up now to get our FREE breaking news coverage delivered right to your inbox. Sean Kia has been working as a Co-Founder & Principal at Tides Equities for 7 years. Tides Equities is part of the Finance industry, and located in California, United States. Next low tide is 2:30 am. In 2016, they made their move. #welcometotheteam#Multifamilyinvesting #MultifamilyRealEstate #tidesequities #dreamteam#realestate, Tides Equities has just closed escrow on the purchase of this 260 unit apartment complex in Phoenix, AZ for $49,750,000. Dealmaker. But to its own lenders, according to Morningstar, Tides said it bought the property at a cap rate of 3.4 percent. Sean Kia is a Co-Founder and Principal overseeing the Acquisitions, Dispositions, and Portfolio Management of Tides Equities. 2023 - MULTIFAMILYBIZ.COM - ALL RIGHTS RESERVED. Sun rise tomorrow is 6:03 AM. Tides Equities has continued the momentum seen in 2021, when the firm completed 77 transactions, accounting for over $4.3 billion dollars and 21,000 units in transaction volume. We couldnt be more excited for what the future holds for Tides, and we are looking forward to continuing our upward momentum for years to come, said Co-Founder Ryan Andrade. But the firm is now grappling with a new reality. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. | Caminada Pass (bridge) (26 mi.) Tides now has to pay about $2.2 million a year on the debt. Tides Equities and CIM Group buy Del Mar Terrace in West Valley for In two years, he's raked in hundreds of millions by flipping apartment buildings in the Southwest. Harbert South Bay Partners Starts Construction on Luxury Assisted Living and Memory Care Senior Living Community in San Clemente, Mill Creek Breaks Ground on Its Second Arizona Community with 360-Unit Modera Reserve in Kierland Neighborhood of North Scottsdale, Aventon Companies Breaks Ground on 336-Unit Aventon Mikasa Luxury Apartment Community in Clements Ferry Corridor of Charleston, Greystar Launches New Renting Experience with 378-Unit Ltd. Med Center Apartment Community in Texas Medical Center District, The latest multifamily industry news Senior Partner. In 2016, they made their move. Large coefficients indicate important high and low tides; major currents and movements usually take place on the sea bed. When Tides bought it in June, it was bringing in about $1.1 million in net operating income, or $50,000 a month short of whats needed to service the loan. And I believe most of our peers are probably in a similar situation, Andrade said. 3/3/2023 6:36 AM. Meanwhile, the debt service on the property jumped with soaring interest rates. Sun rise tomorrow is 6:17 AM. Hunter Wyland This was a vision that Kia had at just 25. TRD toured a 727-square-foot renovated unit near the communal pool and grills. Pay range: $175,000 - $200,000. He has also leveraged his network to assist in equity raises and pitched investments to LPs. By clicking Sign up, you agree to receive marketing emails from Insider Frequent visits to properties will be required, most of which will be in Texas, Nevada, or Arizona. Director of Business Development at WASH Multifamily Laundry Systems, Owner at Harper Commercial | Multifamily Renovation Partner | Western US + Growing. The firm recently formed a dedicated Portfolio Management division, focusing on performance optimization of the portfolio, and are continuing to make notable hires within the Asset Management division. Were excited to have him on our team! The tidal coefficient today is 74, a high value and therefore the range of tides and currents will also be high. The only high tide of the day will be at 8:33 am. It was not the only discrepancy Tides executives gave to investors. There will be pockets of challenge, RealPages Jay Parsons, who authored the report, said in an interview. The firm takes an assembly-line approach, Kia said during a June investor Q&A with crowdfunding site RealtyMogul. "It seemed like it had all the fundamental sort of tailwinds that could really help propel Phoenix to one of the major investment markets," he said. It is kind of a worst-case scenario when you buy the properties. The booming Dallas-Fort Worth rental market would allow Tides to hike rents by 24 percent, setting up a lucrative resale. Asked whether there were other Tides properties in the area, the salesperson inadvertently summed up Tides strategy: They like to gather them up like Pokemon cards.. It was built in 1990 and gives off the vibe of a La Quinta. Susan Saelee - Senior Director, Trans.. - Tides Equities | ZoomInfo Tides at Paradise Valley. Here at Tides, Elliot will be a Director over Portfolio Management where he will look to optimize the performance of all the assets in our portfolio. hough on a smaller scale, Tides situation resembles the bind Tishman Speyer and BlackRock faced at Stuyvesant Town, an 11,200-apartment complex in Manhattan. Asked whether there were other Tides properties in the area, the salesperson inadvertently summed up Tides strategy: They like to gather them up like Pokemon cards.. third parties, and we are not responsible for such. Co-Founder and Principal of Tides Equities which has $6.4 Billion in Assets Under Management and over 30,000 apartment units across the country. At noon the tidal coefficient increases to 78. | Olga Compressor Station (Grand Bay) (17 mi.) are not a party to, and are not liable for, any transactions with any party featured on this website. It had wood-patterned vinyl flooring, fresh paint and stainless-steel appliances, all the marks of a standard Tides upgrade. The length of time the moon will be visible is 11 hours and 39 minutes. Negotiate and/or manage the contractual relationship with any vendors involved with the execution of the business strategy at the asset. Here's how he built his empire. ides own projections show the firm was not covering its debt service on the property. Home delivery and Digital Access customers of The Eagle-Tribune get deals for restaurants, hotels, attractions and other businesses, locally and across the country. Since founding the company in 2016, Mr. Kia has been integral in building a portfolio of over $6.6 Billion of real estate amounting to over 29,000 units across Arizona, Texas, California, and Nevada. For cooperative and condominium properties, the complete terms are in the Offering Plans available from the Sponsor. In the same RealtyMogul Q&A, Jason Beckstrom, a director of acquisitions for Tides at the time, said Tides on Oakland Hills was bought at a cap rate of about 5 percent. In the multifamily boom of 2021, buyers turned to cheap, floating-rate debt to win competitive deals. n the multifamily boom of 2021, buyers turned to cheap, floating-rate debt to win competitive deals. Bruce has worked at WNC, Pacific Urban, MBK Homes, Avanath Capital and Brookline Investment Group over his ten-year span. After several years in the business of buying and selling apartment buildings for other companies, Kia noticed there were ways to make the process more efficient by reducing renovation times. Micah has earned the trust and confidence of investors and colleagues alike through his professionalism, dedication, and work ethic. | Pilottown (22 mi.) In this hands-on role, the Senior Asset Manager will periodically inspect properties to ensure top-tier quality, and ultimately, investment performance. To keep up with payments, Tides will have to double the propertys net operating income over the next two years. But the firm is now grappling with a new reality. But the rental market isnt what it was a year ago: The median rent on a one-bedroom in Fort Worth hit a high of $1,275 a month in October 2022 but has been dropping since, to $1,227 a month in January. The company now has 31,000 units across its portfolio. Tides focuses on well-located, Class-B, assets in Arizona, Texas, and Nevada. Together, Kia and Andrade had a combined net worth of $69 million in 2021, according to a, ust a five-minute drive south along Chisholm Trail Parkway, Tides on Hulen offers an almost identical apartment community of three-story white buildings in a sea of parking spaces. Email. Prior to joining Essex, Tim was a member of the Portfolio Management team at American Realty Advisors focusing on core and value investment strategies for over $10 billion of real estate across all property types and regions on behalf of institutional investors. Sunrise is at 6:07am and sunset is at 7:33pm.