Case Studies



Core Plus — Heron Lake, Columbia, SC

We were retained by a client that was purchasing a property in Columbia, SC with in-place HUD financing that had to be assumed, and wasn’t the most favorable to the deal given the long-term nature of the loan, and the inability to “cash out” upon  any value creation via a traditional refinance or supplemental loan, while simultaneously being too cost prohibitive to pay off when acquiring the deal. Suffice it to say, challenging debt often makes it nearly impossible to attract quality equity; however, our client owned other assets in the immediate area, and felt that despite “bad” debt being assumed, the overall basis was good, and there was a sufficient long-term upside in the deal, and so he insisted on purchasing the property and having us secure the equity for him.

Within days of coming to market, we identified a family office with a timely 1031 that was the perfect fit, and that didn’t mind the cost of paying off the HUD loan as the new debt structure would better align with their 1031 needs, and further give them the ability to almost fully “cash out” their equity investment upon execution of a light value-add program our client had planned, and thus preferred to be in a short-term loan instead of the long- term in-place HUD loan. Within a week of initial contact, the deal was signed up, and closed within 30 days to accommodate the 1031 investors timing, who ultimately invested $11,500,000 into the deal.



Value Add — Pennsylvania Portfolio

A client approached us several years ago with a lead on an off-market portfolio in Pennsylvania and asked if we can assist them with securing the equity. We immediately identified a suitable investor we knew would work for this client and specific transaction and brought them down to tour the properties.

Unfortunately, the seller dragged his feet, as this was his only asset he had left to sell off before going into retirement, and seemed to be in no rush to complete a sale.

​We ultimately tracked the deal for two years before the seller finally executed a contract with our client. However, once a contract was signed and proper access to due diligence began, it became clear this would not be an easy takeover as the seller did not maintain proper records, despite the fact that he had owned the properties for over 60 years.

This disorganization and the inability of the seller to provide even a simple 12-month historical P&L ended up being a roadblock for our original investor; however, despite these issues, having known the property and been tracking it for 2 years, we were able to convince another investor to come and do the deal, outlining all the significant upside our client would be able to attain given the seller’s ineptitude at proper record keeping, and having long ago taken his eye off the ball.

The end result was our investor came in with an investment of over $35,000,000. Today the property is performing well above the pro-forma and has been successful for all parties involved.


NYC Office

One Battery Park Plaza

New York, NY 10004


Mid-Atlantic Office

1829 Reisterstown Road

Pikesville, MD 21208


NYC Office One Battery Park Plaza New York, NY 10004 212.365.0281

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