FORT
LAUDERDALE, Fla., April 30,
2024 /PRNewswire/ -- DoveHill Capital Partners
(DoveHill), known for its hospitality-centric unique approach in
the real estate space, announces its diversification into a second
vertical and its first acquisition in that vertical.
Since 2004, DoveHill's presence in South Florida has allowed it to monitor
several key trends in East Fort
Lauderdale and its surrounding regions. The company has
amassed extensive market knowledge, gained valuable insights, and
forged vital relationships.
While DoveHill has historically been a hospitality-focused,
vertically integrated investment firm, it has been monitoring Class
B industrial spaces in East
Broward and Palm Beach
counties of Florida for some
years.
Our entry into this vertical has launched with the closing of
our first Class-B Industrial property purchase located at 3333 SW
2nd Avenue, Fort Lauderdale, FL.
The property is a 10,000-square-foot industrial and warehouse
facility whose great location is adjacent to Port Everglades,
Fort Lauderdale International
Airport and major south Florida
transportation hubs.
DoveHill is expanding its expertise into Class B industrial,
leveraging our deep local knowledge and established networks to
capture unique investment opportunities. By focusing on
sub-institutional assets valued between $2M and $15M in a
unique high-growth market, we aim to harness market inefficiencies
and drive significant returns through strategic investments in
high-quality industrial properties. This move builds on our
rigorous hospitality sector experience, applying our operational
excellence and infrastructure to a new, highly promising real
estate vertical.
Why is DoveHill diversifying into Class B industrial spaces in
this area? Class B industrial spaces are increasingly valuable due
to their irreplaceable locations, cost-prohibitive new development,
and resilient, growing demand from diverse tenants like contractors
and emerging business models such as ghost kitchens. These factors
and the predictable costs and potential for significant value
appreciation present a compelling opportunity for strategic
investments that capitalize on market inefficiencies and generate
robust returns.
Founder and CEO Jake Wurzak says,
"Individual deal sizes fly under the institutional buyer radar on a
per deal basis but are often too big for small real estate
investors, which will allow DoveHill to leverage its existing real
estate platform to execute on this specific opportunity set with a
competitive edge. Our vision is to grow an institutional portfolio
of sub-institutional assets."
Executive Vice President for Investments Charles Paloux states,
" long tradition of sourcing off-market and lightly marketed deals
through boots-on-the-ground relationships allows us here, too, in
this Class B industrial market, to access tremendous in-demand real
estate at reasonable prices."
About DoveHill Capital Partners
Established in 2011 and headquartered in Fort Lauderdale, Florida, DoveHill Capital
Partners is a vertically integrated hospitality investment and
development organization.
As part of its strategic vision and after investing at
attractive entry points, DoveHill works to remodel and redesign the
real estate to create operational efficiencies and memorable guest
experiences.
The company focuses on preferred equity, experiential
hospitality and value-add investment strategies to create a unique
sense of place to trigger lasting impressions that drive long-term
results for our partners and investors.
For more information about DoveHill Capital Partners:
Visit: www.dovehillcos.com
Investor Contact: Investor Relations -
investors@dovehillcos.com
Media Contact: Meaghan
Peeler - meaghan_peeler@wurzakhotels.com
215-689-0245
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SOURCE DoveHill Capital Management, LLC