Investment
Highlights

• Compelling Basis - Offered at a Compelling Discount to Prior Trade

  ShoreView presents an opportunity to acquire a core-plus waterfront asset at over a 20% discount to the previous transaction, below its estimated replacement cost and below the mezz lenders accrued basis of over $300,000 per unit. This creates immediate value accretion and mitigates basis risk, providing an asymmetric risk/return profile relative to current market alternatives.

• Irreplaceable Waterfront Location and Significant Replacement Cost Advantage

  The Property’s direct waterfront positioning ensures perpetual demand drivers and premium rent performance. This premier location adds to the Property’s underlying land value, increasing its replacement cost and offering investors long-term downside protection.

• Significant Operational Upside and Light, Scalable Value-Add Potential

  Having recently gone through bankruptcy and a UCC foreclosure, ShoreView’s operations have suffered from a lack of consistent asset management oversight, providing experienced operators an opportunity to unlock significant value by stabilizing the Property. Investors can unlock further NOI growth through targeted capital improvements such as contemporary finish upgrades and technology enhancements, including smart home systems and bulk Wi-Fi, which require modest investment, yet offer outsized returns relative to the total capitalization.

• Superior Regional Demographics and Employment Fundamentals

  Situated within the Bradenton/Sarasota MSA, one of Florida’s fastest-growing metros, the asset benefits from robust population growth and resilient job formation. The MSA is characterized by average household incomes exceeding $130,000, a deep pool of white-collar employment, and strong institutional investment momentum.

• Supply-Constrained Micro-Market Promotes Outperformance

  The Downtown Bradenton submarket is uniquely insulated from overdevelopment, with only one multifamily project currently under construction or in lease-up. This market dynamic provides ShoreView with substantial forward-looking rent growth potential.

• Approved Live Local Tax Abatements In Place

  ShoreView is one of a small number of properties in Manatee County that have been approved for Live Local Tax abatements. In 2026, the Property will receive a 75% tax abatement on 107 units and a 100% tax abatement on 4 units (39% weighted average abatement). A new investor has the opportunity to add more units into the tax abatement program, providing significant go-forward upside potential.