Venture Capital & Private Equity Partner Amit Raizada show’s strong Success in Luxury Markets

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By Shannon Sparks

Spectrum Business Ventures, Inc., a private equity firm led by CEO Amit Raizada in Miami, Florida, continues to maximize value in numerous transactions involving operating companies, construction, and sale of luxury real estate around the world. Spectrum has, for more than 22 years, been involved in the acquisition, improvement, management, and sale of operating companies across a wide variety of businesses and industries, as well as residential and commercial real estate projects around the world, ranging from multi-family residential complexes, commercial office and retail space, to ultra luxury homes. Just in the last two years alone, Spectrum and Raizada have facilitated the acquisition, development and sales of luxury homes in Miami Beach, Florida, Newport Coast, California, and Lake Como, Italy, obtaining substantial profits for investments it manages. Spectrum has also assisted asset in growth, management, and sales of operating businesses, including the recent sale of a Tocaya Organica restaurant for a price valuation surpassing at least 70 other similar fast casual restaurants in that chain.

On August 15, 2023, E11even owner and nightclub mogul Mark Roberts and his wife purchased a 7,000 square foot home at 5777 Pinetree, Miami Beach, Florida, for $16.8 million. Spectrum, through Raizada, oversaw the acquisition and development of the property. The, land was purchased on February 18, 2021 for $4 million. Total development costs were $5,500,000, resulting in a $7,300,000 profit as profiled in The Real Deal Miami.

According to Mr. Roberts, “Amit Raizada was one of the most honorable developers I’ve ever worked with. He did everything he said he would and more, in today’s world that says a lot.”

Spectrum is on track to obtain similar or better results for property that it is developing and managing at 240 W. Rivo Alto in Miami Beach, Florida. Spectrum assisted in the location, analysis, and purchase of the waterfront lot in 2021 for $6 million and is overseeing all aspects of the design and construction of a 5,000 square foot luxury home. Development costs are estimated at approximately $7.4 million, for total costs of $13.4 million. Borges and Associates designed the home, which is expected to be listed at $21 million, resulting in a substantial profit.

The success has not been limited to Miami Beach. On September 1, 2023, Spectrum facilitated the sale of a 7,900 square foot luxury home located in the exclusive community of Crystal Cove in Newport Coast California. That home, which was purchased in 2019 for $9.5 million, sold for $14.5 million. Around that same time, Spectrum oversaw the sale of a 5,000 square foot lakefront villa overlooking the beautiful shores of Lake Como, Italy. With Spectrum’s assistance, that property was purchased for $4 million and was sold for $9.8 million, more than doubling in value.

Spectrum and Raizada are also providing advisory, consulting and management services in connection with the construction of a $25 million luxury home in the exclusive development of Costa Palmas, Cabo San Lucas, Mexico. Costa Palmas, a 1,500 acre ocean front resort that boasts residential communities branded by the Four Seasons, Amanvari, and Casa Blake, is Mexico’s premier destination for paradise living for some of the world’s wealthiest people. Although Spectrum anticipated that construction would go smooth and be completed last year, from what we understand through court filings, certain obstacles have delayed the process. Within the last several months, Irongate, the developer of Costa Palmas, has faced growing criticisms and multiple claims of fraud, extortion, and massive construction defects in connection with homes that Irongate has built and/or sold in Costa Palmas. Several buyers have complained, publicly decrying Irongate’s deceit and strong-arm tactics. At least two buyers, Steve Anderson (Founder of Instagram) and Amit Raizada (through their respective entities), have initiated legal proceedings against Irongate and its affiliates, including Irongate’s founder, Jason Grosfeld, for fraud, conspiracy, and other damages. See GS 1975, LLC Lawsuit and the TRG CP, LLC Lawsuit. Spectrum is well-versed in handling such legal disputes and, along with Spectrum’s skilled legal team, Raizada is known for devoting unlimited energy and resources necessary to protect client assets, complete construction, maximize value, and achieve a successful outcome. Raizada has a history of advocating for minority owners in both public and private operating companies, even in the face of public scrutiny.

In addition to these luxury real estate projects, Spectrum and Raizada have assisted other clients in acquiring, creating, managing, and selling a wide variety of commercial businesses, operating companies, and service establishments. Earlier this year, Spectrum facilitated the sale of Florida based Chixegg, LLC, the owner of a Tocaya Organica restaurant in Playa Vista, California, for a price exceeding $8.5 million. Through Spectrum’s efforts, we are advised that this is the highest price that has been paid for a Tocaya Organica fast casual restaurant, and one of the highest prices paid for a single fast casual restaurant across the industry.

Raizada’s success seems to come from dedication to knowing and understanding the industry and its ability to build and foster long-lasting relationships. Spectrum prides itself on providing superior consulting, management, and advisory services across a broad range of businesses and industries, all of which have maximized and will continue to maximize value. Spectrum also has a long history of managing and resolving conflicts that arise in whatever business it is involved, from passive investments, to operating companies, to real estate acquisition and development. Raizada is a problem solvers that think’s outside of the box and finds creative solutions for the assets under management. From our conversations with Raizada, he believes that most disputes can be amicably resolved. Raizada and Spectrum, however, are not litigation adverse and will vigorously fight for and with their clients to protect against fraud, abuse, or other wrongs. “Spectrum has a strong track record in obtaining fair and just outcomes, both in and out of the courtroom, and will do what is required to attain success if efforts to amicably resolve a conflict break down.”



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