Asset Repositioning – Miami, Florida
TCG was retained by a national real estate finance company to provide repositioning guidance for an unfinished condominium project planned for +/-500 units. The client had gained control of the property via foreclosure and required an evaluation of the near- and long-term market potential for various alternative land uses at the subject site.
TCG analyzed supply and demand trends for the apartment, hotel, and> retail sectors at the regional and submarket levels, with a specific focus on recovery forecasting. Additionally, we evaluated the characteristics and performance of comparable properties in the market area. In the context of these market trends and competitive factors, we measured the viability of the subject site for the candidate uses.
Our market-based revenue, timing, and absorption inputs have been a vital ingredient to the client’s asset repositioning strategy. TCG’s national resources and creative problem-solving approach, and extensive South Florida market experience enabled us to help the client chart the optimal course forward.