Investing Joint Venture Equity for Commercial Real Estate

Philadelphia, PA Section 8 Turnkey SFR Development Co-GP Equity

Anika invested $1,500,000 in Co-GP Equity as the first of several consecutive funds for TCS Anika Homes, a JV between Anika Equities, TCS Investments, and TCS Management, for the purchase, renovation, leasing, management, and disposition of turnkey Section 8 housing in Philadelphia. The JV seeks to be a driving factor for the improvement and beautification of communities in urban pockets of Philadelphia without gentrifying or displacing the current population.
For more information, visit www.tcsanikahomes.com.

Tampa, FL Multifamily Value-Add LP Equity

Anika invested $2,550,000 in LP Equity for the River Pointe Apartments, a 212-unit multifamily community in Tampa. Cash flow is distributed pari passu initially and Anika takes a priority position in the waterfall in a capital event and a pref, then the sponsor earns the same pref, after which it is allowed to promote on Anika’s Capital.

Guttenberg, NJ Condo Development LP Equity

Anika invested $3.1 million in LP equity for 62 69th Street, a Guttenberg, NJ condominium development across the river from Manhattan. The deal was structured as a hybrid pref equity transaction where approximately 80% of the equity was invested in a priority position in the waterfall with a pref and a portion of the upside giving substantial consideration for the priority positioning.

NYC Condo Development LP Equity

Anika principals and investors invested $14.2 million in LP equity for 21W20, a NYC condo development in the Flatiron district of Manhattan. The deal was structured as a hybrid pref equity transaction where approximately 85% of the equity was invested in a priority position in the waterfall with a pref and a portion of the upside giving substantial consideration for the priority positioning.

NYC Condo Development GP Equity

Anika invested $8.9 million in a GP Equity financing with a fixed return for 21W20, a NYC condo development in the Flatiron district of Manhattan, midway through construction. The financing took into consideration existing pre-sales and the expected return to the GP on the remaining inventory and advanced a considerable portion of such anticipated earnings.

Sacramento Office/Retail Value Add JV Equity

Anika invested $2.7 million in LP Equity for the Regis Building, an office/retail property in Sacramento. Cash flow is distributed pari passu and Anika takes a priority position in the waterfall in a capital event and a pref, then the sponsor earns the same pref, after which it is allowed to promote on Anika’s capital.

Suburban Office Ground Lease

Anika principals bought the ground under the Campus at Greenhill, a LEED certified 287K SF class A office property in Wallingford, CT anchored by Anthem Blue Cross Blue Shield. The ground was purchased for $22.8 million at a 5.5% cap rate and the leaseholder was able to get $26.4 million in leasehold debt, effectively achieving over 92% leverage between the two financing vehicles.

Anika Equities Case Studies