SkySights (Feb 2022): $1 to $53 million in 12 months
February 28, 2022
Happy belated New Year and Year of Tiger!
Skytian has grown our multifamily assets under management from $1m (9 units) to $53m (245+ units) in about 12 months.
We also passively invested in six deals totaling 1,500+ units in the past 18 months. Moreover, we are excited to add three new Innovation companies to our portfolio: Elon’s amazing SpaceX, PropTech firm Cash Flow Portal and FYLI Tribe, a social firm focused on female leaders and entrepreneurs. Last not least, we have increased our support to non-profit education projects, particularly to groups that promote financial literacy.
- For Sale! Oasis at Clearwater, a 76-door apt community 10 mins from the #1 beach in America
- Acquired! Oasis at Ballast Point, a $23.3m135-door apt community in perhaps the hottest rental market in the nation, South Tampa
- Under Contract, Partner Needed. “Satoshi’s Hideout” a 41-unit flexible leasing community in downtown St Pete.
- New Investments in Innovation: SpaceX, Cash Flow Portal and FYLI Tribe
- Ten Commandments of Investing – seeking Chinese book translator and distributors in China
- Book Fox on Commandment 5: Seek Religion
- March $2,500 gift: to promote financial literacy – can recommend a worthy organization?
Skytian’s first investment in Florida is on the market for sale. Last February, Skytian and partners acquired 44-door Hudson Place and merged it with adjacent 32-unit Laurel Park and rebranded it as 76-door Oasis at Clearwater. Our team improved rents above the market average (25%), repositioned product and strategically rehabbed units and reduced costs – greatly improving NOI. To learn how we added value to the property please click here. After deep analysis, we have decided the best way to maximize investor returns is a sale vs a cash-out refinance. The listing is active with 15 offers and expected to close in April. The projected sale price based on current offers are quite “staggering.” More as this develops in next newsletter.
Acquired: Oasis at Ballast Point (135 units)
Under Contract: “Satoshi’s Hideout” (41+6 units)
Artist Rendering
We are under contract to acquire two under-utilized buildings in downtown St Pete, the heart of Tampa. Skytian is merging the two stabilized assets to offer a branded 41-unit (possible to 47) flexible leasing apartment community targeted to St Pete’s fast-growing young and vibrant digital nomad, tech, startup, crypto, artistic/creatives and healthcare workers. Subject to the brand strategy firm’s recommendation, we are calling it “Satoshi’s Hideout” (to learn the fun story behind the brand, PM us).
If you are an accredited investor with marketing, operations or flexible leasing expertise with interest to partner, we may have one spot left for an equity partner.
If you would like to be in our database for future projects. Please subscribe at www.skytiancapital.com
Bad-Boy Elon to Putin:
(Note: Starlink is SpaceX’s global satellite Internet service)
We are excited to announce an investment in fast-growing PropTech firm Cash Flow Portal, run by talented CEO Perry Zheng. The company helps connect real estate sponsors and investors, making great asset classes like multifamily apts more accessible. This chart shows the startup’s impending “hockey stick” growth:
We are also proud to be an early investor in FYLI Tribe: Fyli–which was named after the Greek word for “tribe”–is a private network of female founders that provides educational masterclasses, mentorship, networking and funding opportunities. Fyli has a global community of 8,000 women. Fyli is founded by Forbes #Next1000 dynamic duo Summer Li and Jacklynn Brennan.
Skytian’s Education Initiatives
Besides real estate and innovation, Skytian actively invests in not-for-profit education projects. Our Wall Street Journal and USA Today best-selling book, Ten Commandments of Investing (#10Cs), continues to do well. All profits are donated to support our mission to promote financial literacy, particularly the underprivileged. This year, Skytian is donating $30,000 or $2,500/month to schools and organizations, such as Full Steam Forward. If you know of a worthy school, teacher or NGO that would benefit from our collaboration please reach out to office@skytiancapital.com.
Thanks to strong demand, we are translating #10Cs to Chinese and will launch in China this year. We seek a good translator and publisher. Please refer them to us if you know of someone.
Last not least, we are supporting 12-year young Boy Wonder James Bohn, a gifted student, rising YouTube star and future Investment Wizard. James has self-produced and published his 5th video on #10Cs: C5: Seek Religion, this time with child actor Marc Slater:
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Thank you and we look forward to seeing you in the next SkySights!
Sincerely,
San