Naples, FL – April 2022 – Edgewater Group LLC (“Edgewater”) is pleased to announce the sale of its townhome portfolio located on Myers Park Lane & Marvin Street (“Belmyers”) in Tallahassee, FL.
The property was originally bought by Belmyers LLC, (“Belmyers”), a wholly-owned subsidiary of Edgewater Valley Forge Fund LP, (“EVFF”) for $525,000 in September of 2014. The sale transaction was concluded on or about April 8, 2022, for the sales price of $1,100,000.
Previously, in August of 2018 Belmyers had sold its other portfolio property – the multi-family building located on 436 Belmont Road for the sale price of $287,650 – this building was previously purchased in December 2014 for $130,600. On a combined basis the Belmyers portfolio was acquired at a purchase price of $ 655,600 and sold for $ 1,387,650. Prior to the sale, Belmyers had refinanced the portfolio for $840,000, resulting in additional distribution to the investors in EVFF.
Belmyers was represented by Sunbelt Real Estate Services LLC, as the listing agent for the sale of the property.
For more information on The Edgewater Company, visit www.edgewatergrpllc.com.
About Edgewater Group
Founded in 2008, Edgewater is a boutique multidisciplinary real estate Firm that provides 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.