April 30, 2019 – Edgecap Partners II LLC, an affiliate of Edgewater Group LLC (“Edgewater”) is pleased to announce the refinancing of the Valley Crossings by TPIS LLC. Valley Crossings was purchased by TPIS LLC in May 2016 for $600,000. With this refinancing the property was appraised at $1,500,000. Edgecap partners II LLC was able to borrow $1,000,000 and pull out over $500,000 in equity to distribute to their investors with this deal. The lender in this transaction was Envision Credit Union.
Valley Crossings is a retail center located on West Tennessee Street, less than 10 minutes from the Florida State University campus. It is one of several properties in Edgewater’s portfolio located in Tallahassee, along with Chapel Hill Partners LLC(student housing), Belmyers LLC(multi-family), North Monroe Properties LLC (office), and Capital Circle Properties LLC (TownePlace Suites by Marriott).
Founded in 2008, Edgewater is a boutique multidisciplinary real estate Firm that provides distressed advisory, management and value-add investment services. Edgewater’s unique focus is on the micro and middle market segments in secondary and tertiary locations in the United States.