Andrew Visser
Grand Rapids, MI (USA)
Role(s):
Founder/Owner/Principal
616 Lofts
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Startup
Location:
Grand Rapids
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
We are a small, development company in the growing, tier-2 city of Grand Rapids, MI. Our ideas come from a mix of past experience and growing opportunity in Western Michigan. The city has good infrastructure with room to improve and is begging to grow.
Initially, our mission has created critical mass in under-supplied, over-demanded market-rate rental units. Our first few projects have been mixed-use with first floor retail, converting stale, CBD office space into units. We have pre-leased each prior to construction and fully stabilized the projects w/in months. The mission is to continue to supply and manage this geo-specific sector, meanwhile keeping an eye open for other opportunities.
Growing beyond that, we cultivate numerous local business relationships in Grand Rapids. Given the current state of flux in traditional lending, there is an opportunity to grow a PE-style arm where banks cannot make a fit.
Currently, we are looking for $50k in operational capital to allow us to grow our funds. Combined with our market knowledge, outreach, and the current economics, we sense a real window to grow our reputation and capture these opportunities.