Activity Underway for Sunshine State Certificates V, LLLP
September 15, 2014
Miami Lakes, Fla. – The Kislak Organization recently closed Sunshine State Certificates V, LLLP, and activity is underway. Led by President and CEO Thomas Bartelmo, and Director of Tax Certificates Gary Branse, Kislak created this new tax lien certificate fund designed to deliver impressive returns relative to comparable low-risk investments, including CDs and U.S. Treasury notes.
“This fund’s projected IRR of more than 5 percent far outshines those alternatives – most of which are continuing to yield less than 1 percent,” Bartelmo said. “In today’s low-interest-rate atmosphere with ongoing financial market volatility, tax certificates continue to be an attractive investment choice.”
The fund’s total capital commitment of nearly $11 million includes $1 million from the Kislak Organization. In addition, the Kislak team obtained a $25 million revolving line of credit with BankUnited.
Kislak participated in the 2014 Florida and New Jersey tax certificate auctions, and acquisitions in a number of states will continue throughout the life of the fund.
With extensive experience in tax lien certificate management, the Kislak team has in-depth knowledge of acquisitions, servicing and financing. In addition, the organization has developed proprietary systems and databases to identify tax certificates with attractive expected yields and a high probability of redemption, to monitor and validate redemptions, and provide reports to investors.
“Purchases in our first four tax lien certificate investment funds combined total nearly $160 million, and we look forward to continued success with Sunshine State Certificates V,” Branse said. “In addition to providing excellent returns for investors relative to comparable low-risk investments, tax certificate investment funds assist local governments in recovering property tax dollars that support important services and programs, including education and public health and safety.”