PAST SUCCESSES

I

Wells Fargo needed a neglected, 13,000 SF REO strip center turned around. DRP took over the center with just 15% occupancy. We repaired mold and water damage. DRP aggresively marketed the center,  generating an amazing 8 leases within 8 months, even handling all of the TIs for the out of state owner. Once renovated and leased, we sold it at a 40% increase in value.  

 

Capital Crossing Bank had a $1.5M, distressed commercial mortgage on its books, that was severely "underwater". We analyzed the property and directed them to foreclose and turn over the asset to us. We led a $100,000 make over which included an environmental remediation. After a thorough search, we located an Italy-based owner/user at a sale price that allowed them to break even on an asset previously thought to be overleveraged.

 

Mint Life Limo needed an office / warehouse, but did not have the resources to purchase a property conventionally. DRP counseled them on the SBA 504 loan program. DRP put the deal together with just 10% down payment at a below market intereste rate. DRP also negotiated $60,000 in tenant improvements to be rolled into the loan, allowing them to resurface the parking lot and make interior improvements.