A disgruntled partnership led the original developer down the path of selling. Immediately upon hearing the asset may come available, we reached out to the private owner and put the property under contract before it hit the open market. We then purchased the City of Clearwater’s portion of the garage to bring the entire parking facility private and unlock substantial value.

This off-market acquisition is an institutional grade, Class A property where visitors park to enjoy the #1 beach in the country.

With lack of parking supply and massive demand, the City built North Beach Parking Plaza brand new in 2017. It’s a generational asset on Clearwater Beach with a long-term lease that provides stable, recurring income for many years into the future.

This visibility of income over the next decade provides safe, predictable cash flow (and clarity) for our Fund 3 partners.

Purchased for less than $34mm, the property recently appraised for $48.7mm, meaning Sunrise immediately created over $14mm built-in sweat equity at acquisition on an institutional-grade, Class A property. This is truly a generational asset that will help hundreds of accredited investors earn passive income and build legacy wealth over time.