Where Purpose Builds Value
Sunchase Companies is currently raising for The Aria, a 108-unit multifamily acquisition in Fort Walton Beach, Florida. Acquired at a compelling basis through a Chapter 11 bankruptcy process. Investor equity is in motion.
The Aria is a 108-unit multifamily community in Fort Walton Beach, Florida, acquired through a Chapter 11 bankruptcy process at approximately $18.1 million, roughly $4 million below the debt previously secured by the asset. Located in the heart of Fort Walton Beach near Eglin Air Force Base and Hurlburt Field, this is a well-located, 1999-built community with a stable renter base and meaningful operational upside.
The business plan is intentionally straightforward: improve management, control expenses, complete targeted light capital improvements, and refinance into long-term fixed-rate agency debt during Year 2. The investment thesis is grounded in current property performance, not aggressive rent growth assumptions. Here is what the numbers show:
Sunchase acquired The Aria through a Chapter 11 bankruptcy process at $168,000 per unit, approximately $4 million below the debt previously secured by the asset. This basis provides meaningful downside protection that most acquisitions cannot offer. The patience to pursue the deal over time created the opportunity.
The Aria sits in the heart of Fort Walton Beach, an “A” location with convenient access to employment, retail, dining, and beaches. The property is approximately 15 minutes from Eglin Air Force Base and 2.1 miles from Hurlburt Field, two of the Gulf Coast’s most durable non-cyclical demand anchors for workforce housing.
We will finance this project through a 24-month bridge loan at 75% LTV with an interest-only rate of 7.5%. Following stabilization, the plan is to refinance into long-term fixed-rate agency debt during Year 2, providing a stable, long-term foundation for the remainder of the business plan.
As a result of the below-debt acquisition basis and disciplined underwriting, the investment targets 19–21% average annualized returns with a preferred return of 8% and a 1.9–2.1x equity multiple over a projected five-year hold. Current market rents average approximately $1,819 per month. That is where our underwriting is anchored.
With a below-debt acquisition basis, a military-anchored “A” location in Fort Walton Beach, conservative underwriting grounded in current rents, and a clear path to fixed-rate refinancing in Year 2, The Aria represents one of the most defensible investment opportunities we have brought to market.
2 for 2. Ahead of Schedule. Capital Returned.
Before committing to any operator, the question worth asking is simple: have they done what they said they would do?
At Bay Vista in Daphne, Alabama, we closed a cash-out refinance just 23 months into our business plan, returning approximately $800,000 to investors while maintaining their full ownership stake. An investor who contributed $250,000 received roughly $66,000 in that distribution with their equity position unchanged. Our all-in basis was $7.5M. The asset appraised at $9.5M, representing over $2 million in value created in under two years.
At Pensacola Apartments, our first syndication, we completed a cash-out refinance 18 months into the business plan and are delivering consistent quarterly distributions.
Two deals. Two business plans executed ahead of schedule. Capital returned to investors in both cases. In a market where many operators have struggled, our team has remained disciplined, focused on execution, conservative underwriting, and controlling what we can control.
Appraised Value, Bay Vista
All-In Basis
Time to Refinance
Returned to Investors
A Disciplined Bet on the Right Market
The Gulf Coast is one of the most fundamentally sound and undersupplied multifamily markets in the country, with durable demand, a growing population, and limited institutional competition.
Gulf Coast multifamily serves a stable renter base: working families, essential workers, and community anchors who live and work locally. Proximity to major military installations like NAS Pensacola and Corry Station reinforces that stability with a renter population that is consistent, vetted, and long-tenured. Demand here is structural, not speculative.
Unlike overbuilt Sun Belt metros, Gulf Coast markets including Pensacola, Daphne, Gulf Breeze, and Fairhope have seen disciplined supply growth. Low new construction relative to demand supports strong occupancy and a favorable rent environment for well-located, well-operated assets.
Our returns are driven by what we can directly influence: buying at the right basis, improving operations, and managing expenses with discipline. We do not underwrite on cap rate compression or speculative rent growth. Every assumption we make is one we are prepared to defend.
Institutional capital has largely overlooked smaller Gulf Coast markets. That creates a pricing advantage for operators with local knowledge and deep relationships, and meaningful upside as institutional capital eventually discovers the region.
10 Communities. 600+ Units. Gulf Coast.
Every property in our portfolio is located within the Gulf Coast markets we know best: Pensacola, Daphne, Gulf Breeze, and Fairhope.
Actuals Over Proforma
We acquire and operate multifamily properties where we can create value through disciplined operations, not financial engineering or aggressive assumptions.
What We Buy
We acquire multifamily communities in Gulf Coast markets with strong area median incomes, stable occupancy, and a clear path to operational improvement. We do not overpay for optionality.
How We Create Value
Value is created through management discipline, targeted capital improvements, and expense control. Every return driver is something we can directly influence.
What We Protect
We stress-test every acquisition against realistic scenarios. We do not assume rent growth that has not materialized, and we maintain conservative exit assumptions on every deal we underwrite.
Built by Operators, Led with Purpose
Our leadership team brings deep Gulf Coast market knowledge, disciplined underwriting, and a commitment to long-term stewardship of every asset we acquire.
Founder/CEO
Chief Investment Officer
An Operator Built for the Long Term
These beliefs define how we approach business, leadership, and our responsibility to investors, residents, and the communities we serve.
We believe business carries responsibility beyond profit. The decisions we make affect residents, employees, investors, and communities. That responsibility informs how we invest, how we operate, and how we grow.
Capital, properties, and trust are entrusted to us. We approach ownership with integrity, discipline, and a commitment to long-term outcomes rather than short-term optics.
We care deeply about people. That includes investors who place their trust in us, residents who call our properties home, and partners who work alongside us.
We communicate with honesty and clarity. Trust is built through transparency, accountability, and direct conversations, even when they are hard.
Ready to Invest with Sunchase?
We prioritize investors already in our network. If you are not yet part of it, this is how you get in.
Disclaimer: This form is for informational purposes only. Submission does not constitute an offer to buy or sell securities. Intended for accredited investors only.
