New Street was founded on the principles and success of several of the Partners' previous investments. These include the following:
- Potash Mineral Rights - 2012 - 2013 - invested at a $15MM valuation. Most recent capital raise valued resource at $75MM. Independent appraisal values resource in excess of
$600MM. Investment horizon 5-7 years. Our partner in this investment is a geologist with expertise in potash and oil reserves.
- South Carolina real estate tax-sale – 2013 - invested in pool of residential properties acquired in 2013 Charleston tax auction. 92% of invested capital returned to date and
current valuation implies a +20% IRR over a 24-month investment period. Our partners in this investment developed proprietary rating tool to screen and price properties in auction.
- Industrial Real Estate – 2013 - Invested at preferred equity level earning 8% coupon at $600,000 equity valuation. Building independently appraised at closing with $1.5MM equity
value. Currently, recapping property's original $900,000 of debt with $2.2MM new loan. Expected 36-month investment period. Our partner in this investment is industrial real estate developer
with expertise in value-add and corporate surplus properties.
- Idled Coal Plants – 2014 - Invested in purchase of two idled coal plants in NC from large private equity fund at a $670,000 valuation. Obtained LOI for sale prior to close of
purchase, resulting in a 7.7X net return on investment approximately 60-days post closing. Our partner specializes in industrial real estate developer with expertise in value-add and corporate
- Atlanta Single Family Homes – 2013 - Invested in a portfolio of single family homes in the greater Atlanta area in 2012. Portfolio yield-to-date over 9% and fair market value
- Multifamily Real Estate - 2015 - Provided a short-term bridge loan to acquisition of value-add properties. Priced to earn over 15% APR. Developer is a leading multifamily
real estate firm in southeast.