Client: United States Polo Association
Property Description: Windsome Estates Replat – 40 acres, Wellington, Florida
Assignment Summary:
After arranging the purchase of this tract to the USPA in 2022, thereafter, and within 120 days of being exclusively re-listed with Atlantic Western for sale, Atlantic Western re-sold the entire parcel to private interests.
Client:United States Polo Association
Property Description: The 160 acre International Polo Club (IPC) complex in Wellington is the iconic hub of high goal polo in America and home of the United States Polo Association’s (USPA) US Open Championship and the Gauntlet of Polo, consisting of 6 championship polo fields, stadium and equestrian infrastructure; the land under which was originally sold by Atlantic Western to IPC’s original developer in 1997.
Assignment Summary:
In 2022, the USPA engaged Atlantic Western to provide valuation and advisory services in connection with the USPA’s record breaking $110,000,000 purchase of IPC from private interests.
Client: Southern States Land & Timber Interests
Property Description:Â A 74 acre mixed use development tract known as Tuttle Royale comprising a 29 acre parcel proposed for the development of 411 multi-family units; a 10 acre parcel for the proposed development of an 87,000 sf Charter School; and a 34 acre parcel for the proposed development of 96 townhomes located on Southern Blvd., in Royal Palm Beach, Florida.
Assignment Summary:
Southern States Land and Timber enjoy various sub-surface mineral rights and surface rights of exploration throughout the State of Florida. In connection with the financing and proposed development of the Tuttle Royale Project, Atlantic Western provided advisory services to Southern States and its agents to value the proposed tracts and assist in the release pricing of its mineral exploration rights.
Client: Private Interests
Property Description: Windsome Estates Replat – 40 acres, Wellington, Florida
Assignment Summary:
After being on the market for sale by the original developer for over 10 years, in 2019, Atlantic Western, on behalf of private investment group, assembled and acquired various portions of this 4 lot equestrian sub-division. Thereafter, in 2022, and within 60 days of being exclusively re-listed with Atlantic Western for sale, Atlantic Western re-sold the entire project to the United States Polo Association (USPA) for $12,400,000 in connection with the USPA’s plans to develop surrounding acreage for a regional polo center.
Client: INTERNATIONAL FARMING CORP. AFFILIATES
Property Description:Â 969+ acres Palm Beach County, Florida
Assignment Summary:
In 2016, Atlantic Western was exclusively engaged by affiliates of International Farming Corporation, one of the United States’ largest owners of farm land to assist in the marketing and sale of a 300+ acre ranch parcel. In 2017, Atlantic Western completed the sale of this tract for $4,000,000 representing 100% of the asking price to affiliates of Florida Power & Light, together with the negotiation of an option to purchase an additional 900+ acres. The second traunch of this sale was completed in July 2020 for $17,930,000 equating to approximately $18,500 per acre.
Client: GULFSTREAM POLO CLUB and surrounding properties
Property Description: 160+ acres Palm Beach County, Florida
Assignment Summary:
Over an 14 year period, Atlantic Western represented multiple owners of tracts comprising over 380 acres including the Gulfstream Polo Club, and provided comprehensive advisory, entitlement and brokerage services which resulted in the successful re-zoning and sale of various tract assemblages for residential development to Standard Pacific Homes, Lennar Homes and Pulte Homes. In 2018, Atlantic Western completed the 69 acre sale of the second phase of Gulfstream Polo Club to Pulte Homes for approximately $18,726,000.
Client: Gramercy Property Trust
Property Description:Â 12,315 SF Office Building Complex |Â West Palm Beach, Florida
Assignment Summary:
After several failed attempts to sell this asset, Gramercy engaged Atlantic Western to assist in the marketing and brokerage of this office building which was challenged by a complicated lease with Bank of America and sub-lease with Guardia. Atlantic Western, working with Ten-X completed an auction and the $900,000 sale within 60 days of assignment.
Client: FL Indrio LLC (an affiliate of Lehman Brothers)
Property Description: 225 acres | Saint Lucie County, Florida
Assignment Summary:
Exclusively engaged in 2014 by Lehman Brothers Affiliates, Â Atlantic Western provided asset management & disposition services including: (i) property due diligence; (ii) the negotiation and completion of an agricultural lease; (iii) billboard licenses; and (iv) the disposition of this tract for $1,795,000 within 180 days of assignment.
Client: FL 5931 W Commercial Blvd. LLC (an affiliate of Lehman Brothers)
Property Description: 7.38 acres | Tamarac, Broward County, Florida
Assignment Summary:
Exclusively engaged in 2013 by Lehman Brothers Affiliates, Atlantic Western provided asset management & disposition services including: (i) property due diligence; (ii) entitlement repositioning and negotiation of easements with adjoining owners; (iii) the disposition of this tract for $900,000 within 180 days of assignment.
Client: FL Indiantown LLC (an affiliate of Lehman Brothers)
Property Description:
572 acres | formerly known as the Quillen Acreage | Indiantown, Florida
Assignment Summary:
Exclusively engaged in late 2012 by Lehman Brothers Affiliates, Atlantic Western facilitated the disposition of this agricultural/development tract for $3,660,800 within 90 days of assignment.
Client: Sabadell United Bank
Property Description:
87,000 SF Industrial/Office Complex | Palm Beach Gardens, Florida
Assignment Summary:
During 2011-12, Atlantic Western provided court appointedreceivership and management services for the Property including the repair and remediation of prior roof damage, vandalism, mold infestation, and code violations. In 2013, following the foreclosure, Atlantic Western was engaged as the exclusive listing agent and completed the $6,100,000 sale of the property within 90 days of assignment.
Client: Iberia Bank
Property Description:
49 acre foreclosed Equestrian Sub-Division | Wellington, Florida
Assignment Summary:
Exclusively engaged in 2011-12 by the foreclosing lender, Atlantic Western successfully completed the marketing and $3,600,000 sale of this land to an all-cash foreign investor.
Client: Church Loans & Investment Trust
Property Description:
Foreclosed 1.5 acre Commercial Tract | Miami-Dade County , Florida
Assignment Summary:
Exclusively engaged by this nationwide lender, Atlantic Western facilitated the $1,300,000 sale of this commercial tract to an institutional buyer.
Client: Iberia Bank, Jupiter, Florida
Property Description:
32 Acres Equestrian/Polo Farms Agricultural/Development Tract | Lake Worth, Florida
Assignment Summary:
During 2011, Atlantic Western provided disposition brokerage services to Iberia Bank in connection with their foreclosure on multiple polo farms/agricultural development tracts within Gulfstream Polo Club. Within six months of engagement, Atlantic Western successfully completed all cash sales to third party investors.
Client: Comerica Bank
Property Description:
15,800 sf office condominium | Wellington, Florida
Assignment Summary:
During 2010-2011, Atlantic Western was engaged to provide strategic advisory services to Comerica Bank and its legal team foreclosing on this office complex. Atlantic Western was subsequently engaged as the exclusive listing agent to provide disposition services, which resulted in the completion of an all cash sale to third party investor within six months of engagement.
Client: Gibraltar Private Bank, Miami, Florida
Property Description:
29.25 Acres Tree Nursery & Agricultural/Development Tract | Lake Worth, Florida
Assignment Summary:
During 2010, Atlantic Western provided management and disposition brokerage services to Gibraltar Private Bank in connection with their foreclosure on this abandoned tree nursery. Within six months of engagement, Atlantic Western completed a successful all cash sale to third party investors for $2,090,000.
Client: National City Bank & PNC Bank
Property Description:
234,500 sf Multi-Tenant Industrial Complex | Mangonia Park, Florida
Assignment Summary:
During 2010, Atlantic Western principals were appointedreceiver by the court in the foreclosure of this project. Atlantic Western provided comprehensive property management, leasing, and strategic advisory services to the lender on its $5,200,000 mortgage secured by this property, including identifying and proposing comprehensive solutions to environmental, title, drainage, entitlement and other defects impacting the real estate. Thereafter, Atlantic Western assisted the lender in its ultimate sale of its note and mortgage to a third party investor.
Client: Scotia Bank as Agents, New York, NY
Property Description:
420 unit Luxury Condominium Project | West Palm Beach, FL
Assignment Summary:
Throughout 2009-2010, Atlantic Western provided asset management and strategic advisory services to the lender group that foreclosed on its $134,700,000 mortgage secured by this property. Atlantic Western assisted the lender in the recovery and ownership operation of the asset, including formation and execution of a comprehensive business plan and budget for the property and association management, leasing, and retail sale program for the individual condominium units. Atlantic Western’s president also served as an officer and director of the association’s board. The assignment was completed through the bulk sale of the remaining 305 units for $67,000,000; representing one of the highest bulk sale recoveries in the market.
Client: Mercantil Commerce Bank, Miami, Florida
Property Description:
836 acres consisting of a 2 phase, partially completed, rural agricultural/residential sub-division | located in Martin County, Florida
Assignment Summary:
During 2009-2010, Atlantic Western was engaged to provide strategic advisory services to the lender and its legal team foreclosing on this partially completed rural lot sub-division. Atlantic Western assisted in the formation of a strategic plan, research into entitlements, market valuation and negotiations to complete certain critical project infrastructure.
Client: Trucane Sugar Corp., West Palm Beach, FL Lake Point LLC
Property Description:
1,200 acres of farm land | Pt. Mayaca, Martin County, FL
Assignment Summary:
In 2008, in connection with Lakepoint Ph I, Atlantic Western facilitated the entitlements and sale of this 1,200 acre sugar cane and citrus farm to investors for $23,000,000. Atlantic Western also arranged and facilitated $41,000,000 in operating debt that financed the purchase of both phases.
Client: Trucane Sugar Corp., West Palm Beach, FL Lake Point LLC, Boston, MA
Property Description:
2,200 acres of farm land | Pt. Mayaca, Martin County, FL
Assignment Summary:
In 2004, Atlantic Western assisted the owner of this sugar cane and citrus farm to identify possible disposition alternatives. Within 3 months, Atlantic Western assembled a group of investors that contracted to acquire the first phase of over 1,000 acres which was completed in 2005 for $13,000,000. Atlantic Western was subsequently engaged by Lake Point LLC to entitle, develop, finance, and market the project known as Lake Point Ranches. Over the next 2 years, Atlantic Western completed the entitlement, permitting and initial construction of the project and successfully re-sold it for $30,000,000 cash.
Client: First Bank, N.A., West Palm Beach, FL & American Financial Realty Trust, Philadelphia, PA
Property Description:
Reflections Office Towers Australian Avenue, West Palm Beach, FL 107,000 SF – Class A Office
Assignment Summary:
Originally engaged by First Bank, Atlantic Western provided strategic valuation and advisory services in preparing a business and disposition plan for this multi-tenant class A office complex, which were utilized in First Bank’s merger with Republic Security Bank, and Wachovia, and ultimately the property’s acquisition by American Financial Realty Trust (AFRT). AFRT subsequently re- engaged Atlantic Western in 2005 to provide exclusive leasing and re-sale brokerage services, which resulted in the successful leasing of over 22,000 sf of vacancy and the re-sale of the north tower for $9,800,000.
Client: American Financial Realty Trust Philadelphia, PA
Property Description:
Wachovia Bank Building | Banyan St., Downtown, West Palm Beach, FL | 58,000 SF – Class B Office
Assignment Summary:
In 2004, Atlantic Western was exclusively engaged to lease this historic downtown office building. Within 12 months of engagement, such assignment was completed and building leasing increased to 100%. In 2007 Atlantic Western successfully sold the asset for $7,000,000.
Client: BC Properties, Miami, Florida
Property Description:
Lennar Corporate Center SR 836, Miami, FL | 300,000 sf - office park
Assignment Summary:
Atlantic Western was engaged to provide advisory services for this investor's acquisition and financing of this 300,000 sf, four building complex. Atlantic Western represented the buyer in the acquisition negotiations and due diligence for the $35,500,000 purchase of the property as well as arranged $24,800,000 of institutional debt for its acquisition; which assignment was completed within 60 days.
Client: Intracoastal Health Systems
Property Description:
St. Mary's Medical Office | Royal Palm Beach, FL | 30,000 sf Medical Office Building
Assignment Summary:
Atlantic Western was engaged as the exclusive agent for the owner to execute a RFP/sealed bid sales program for this Medical Office Building which was 100% vacant as of closing. Atlantic Western completed the bid and sales program in 90 days providing a cash sale of $3,500,000 or $116.00 psf.
Client: Emmes Asset Management, New York, NY
Property Description:
Twin Oak Plaza Davie Boulevard | Ft. Lauderdale, F | 114,886 sf - Winn-Dixie anchored center
Assignment Summary:
Atlantic Western was engaged by Emmes to assist in their purchase of this center and to provide exclusive management and leasing services in the physical rehabilitation and re-leasing of this asset. Over a 3 year period, this center was re-anchored and occupancy increased to 98%. In 2002, Atlantic Western was exclusively engaged by the client to execute an institutional sales program which was successfully completed within six months, generating a $7,200,000 cash sale to a private investment group.
Client: St. Ann's Catholic Church, West Palm Beach, Florida
Property Description:
Transfer of Development Rights
Assignment Summary:
Atlantic Western was engaged to provide advisory services to St. Ann's Church in connection with the very first creation and sale of TDR/"Air Rights" in downtown West Palm Beach. Atlantic Western assisted in the sale of TDR's; which were sold to Kolter for the development of City Plaza, a 15 story condominium project in West Palm Beach, Florida.
Client: Peninsula Bank
Property Description:
Binks Forest Golf & Country Club | Wellington, Florida | 212 acres with 18 hole golf course
Assignment Summary:
Atlantic Western was exclusively engaged in 2007 to assist certain owners in the sale and condemnation of these tracts by the FDOT, resulting in completed transactions totaling over $13,600,000.
Client: General American Life Insurance, Metropolitan Insurance Company
Property Description:
Brandywine I Office Center | Village Boulevard, West Palm Beach, Florida | 67,000 sf - mixed use - office and restaurant
Assignment Summary:
Atlantic Western was engaged to provide comprehensive receivership, property management, construction management services and leasing and sale advisory services in connection with the rehabilitation of this foreclosed office building and free standing restaurant facility. Within a period of 18 months from takeover, the entire project was stabilized, leasing increased to 80%, then successfully sold to an institutional investor.
Client: Emmes Asset Management, New York, NY
Property Description:
Carol City Apartments | 57th (Red Road), Carol City, FL | 150 units
Assignment Summary:
As exclusive agents for Emmes, Atlantic Western was engaged to execute a marketing and sales program for this HUD subsidized apartment complex in Carol City, Dade County. The sale was completed within 6 months for $2,400,000, to a local private investment group on an all cash basis.
Client: Nationsbank, Tampa, FL
Property Description:
40 acres - Agricultural Nursery | Wellington, FL
Assignment Summary: As exclusive agents for Nationsbank, Atlantic Western was engaged to develop and execute a marketing and sales program for this abandoned nursery facility. Atlantic Western successfully sold the tract for 100% of the established asking price of $800,000 within the six month assignment.
Client: General American Life Insurance, Orlando, FL
Property Description:
Port St. Lucie Shopping Center | US 1, St. Lucie, FL | 44,000 sf - multi-tenant retail center
Assignment Summary:
Atlantic Western was appointed as court receiver on this asset and following its acquisition as REO, within 12 months the Property was stabilized, repositioned and sold to a private investor.
Client: General American Life Insurance, Orlando, FL
Property Description:
Forest Hill Plaza | Forest Hill Boulevard, West Palm Beach, FL | 30,500 sf - multi-tenant neighborhood center
Assignment Summary:
Atlantic Western was appointed as court receiver on this asset and following its acquisition as REO, within 12 months the property was stabilized, repositioned and sold to a private investor. Atlantic Western was retained by the buyer to provide management and leasing services.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
565 acre commercial PUD | Osceola and Polk Counties, Florida | Unimproved Land
Assignment Summary:
Atlantic Western was engaged as Apollo's exclusive advisors in connection with their equity financing of this major land development near Disney World. Atlantic Western provided extensive due diligence services including verifications of D R I entitlements, critical road and utility projects, and political and legal issues. The project included the comprehensive preparation of a market study, modeling and financial underwriting of this multi-phased mixed use development.
Client: Winthrop Investors (IRCI) Apollo Real Estate Advisors, New York, NY
Property Description:
3200 acre Citrus Grove | Martin County, FL
Assignment Summary: Engaged by an Apollo affiliate, Atlantic Western provided advisory and valuation services in connection with the management and disposition plans for this and other large syndicated agricultural properties in Florida.
Client: First Bank, NA
Property Description:
Jefferson Plaza Shopping Center | US 1, Ft. Pierce, FL | 165,000 sf center
Assignment Summary:
Atlantic Western was appointed receiver on this substantially vacant center. Within three months, the property's physical and economic deterioration was stabilized. Atlantic Western assisted in the successful sale of the bank's judgment for a 100% recovery of the secured debt.
Client: Emmes Asset Management, New York, NY
Property Description:Â Lago Plaza Shopping Center | 28th Avenue, Hialeah, Florida | 154,000sf Winn-Dixie, Wal-Mart anchored center
Assignment Summary:
As property managers and exclusive leasing and sales agents, over a four year period Atlantic Western completely repositioned this center, increasing overall occupancy from 55% to 85%. Atlantic Western assisted in the property's refinance to an institutional lender and subsequently executed a marketing and sales program resulting in the property's sale for $10,000,000 to a private, all cash buyer. This sale was executed with only 2 years remaining on the Winn-Dixie lease and Walgreen's stated decision to vacate.
Client: Emmes Asset Management, Inc., New York, NY
Property Description:
Powerline Industrial Center | Powerline Road, Pompano Beach, FL | 24,800 sf - multi-tenant warehouse
Assignment Summary:
As exclusive property managers, leasing and sales agents, Atlantic Western completely re-positioned this center bringing overall occupancy to 100% and subsequently executed an all cash sale to a private investment group within a two year period, generating over a 50% return on our client's investment.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
Centurion Office Tower | Forum Way, West Palm Beach, FL | 145,000 sf class A office
Assignment Summary:
As advisors to Apollo, Atlantic Western originated, underwrote and closed the $55,000,000 equity and debt refinancing of the Master Limited Partnership which owned a 700,000 sf portfolio of class A office buildings, including the Centurion Tower. Atlantic Western subsequently advised Apollo in the sale of its partnership interests to Crocker Real Estate Investment Trust.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
Glades Twin Office Towers | Glades Road, Boca Raton, FL | 100,000 sf - class A office
Assignment Summary:
As advisors to Apollo, Atlantic Western originated, underwrote and closed the $55,000,000 equity and debt refinancing of the Master Limited Partnership which owned a 700,000 sf portfolio of class A office buildings, including the Glades Twin Towers. Atlantic Western subsequently advised Apollo in the sale of its partnership interests to Crocker Real Estate Investment Trust.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
Sanctuary Office Complex | US 1, Boca Raton, FL | 179,000 sf class A office
Assignment Summary:
As advisors to Apollo, Atlantic Western originated, underwrote and closed the $55,000,000 equity and debt refinancing of the Master Limited Partnership which owned a 700,000 sf portfolio of class A office buildings, including the Sanctuary Office Complex. Atlantic Western subsequently advised Apollo in the sale of its partnership interests to Crocker Real Estate Investment Trust.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
Centrepark Office Tower | 1400 Centrepark, West Palm Beach, FL | 94,000 sf class A office
Assignment Summary:
As advisors to Apollo, Atlantic Western originated, underwrote and closed the $55,000,000 equity and debt refinancing of the Master Limited Partnership which owned a 700,000 sf portfolio of class A office buildings, including the Centrepark Tower. Atlantic Western subsequently advised Apollo in the sale of its partnership to interests Crocker Real Estate Investment Trust.
Client: Apollo Real Estate Advisors, New York, NY
Property Description:
Northpoint Office Tower | Northpoint Office Park, West Palm Beach, FL | 97,000 sf class A office
Assignment Summary:
As advisors to Apollo, Atlantic Western originated, underwrote and closed the $55,000,000 equity and debt refinancing of the Master Limited Partnership which owned a 700,000 sf portfolio of class A office buildings, including the Northpoint Tower. Atlantic Western subsequently advised Apollo in the sale of its partnership interests to Crocker Real Estate Investment Trust.
Client: Island National Bank, Palm Beach, FL
Property Description:
Prosperity Gardens Office Complex (office condominium) | Prosperity Farms Road, Palm Beach Gardens, FL | 93,000 sf - office condominium complex
Assignment Summary:
As loan advisors for Island, Atlantic Western assisted in the management and resolution of non-performing debt secured by this complex. Following the property's acquisition as REO, Atlantic Western executed a retail sales program for the remaining office condominiums which resulted in 100% sell out within 12 months.
Client: Emmes Asset Management, New York, NY
Property Description:
Worthington Office Park | Worthington Road, West Palm Beach, FL | 22,000 sf Flex-office
Assignment Summary:
As property managers, leasing and exclusive sales agents, Atlantic Western completely rehabilitated this office complex and increased occupancy from 44% to 100% within a two year period. Atlantic Western subsequently sold the asset for $900,000, returning over 50% profit on our client's investment.
Client: Emmes Asset Management, New York, NY
Property Description:
Corporate Courts Office Complex | Miami Lakes, FL | 58,000 sf 2-story Flex-office and distribution
Assignment Summary:
Atlantic Western, on behalf of its clients acquired control of this complex after protracted litigation. Following extensive exterior, structural, roof and tenant improvements, overall occupancy was increased from 40% to 75% within a one year period. As exclusive marketing agents, Atlantic Western subsequently executed the sale of the Property for $1,100,000 representing a 6.5% capitalization rate on in place income.
Client: Emmes Asset Management, New York, NY
Property Description:
Grand Cru Apartment Portfolio | Broward County, FL | 6 properties, 388 units
Assignment Summary:
Atlantic Western was engaged by Emmes to assist in their purchase of these apartments as part of a larger portfolio. Subsequently, Atlantic Western was appointed exclusive listing agents in the marketing and sale of these six properties.
Client: Barnett Banks of Florida, NA
Property Description:
Square One Industrial Complex | Florida Mango Road, West Palm Beach, FL | 26,000 sf warehouse and showroom industrial
Assignment Summary:Initially acting as the court appointed receiver in connection with non-performing debt secured by this asset, following foreclosure Atlantic Western assumed control of this collateral. Within a six month period Atlantic Western completed extensive structural, environmental and physical repairs, leased the complex up from 74% to 98%, and executed the asset's sale generating a 97% recovery for the client.
Client: Coca-Cola Enterprises, Atlanta, GA
Property Description:
Industrial Warehouse and Facility | Leesburg, FL SR 44, Leesburg, FL | 22,000 sf - industrial/distribution warehouse
Assignment Summary: As exclusive sales agents for Coca-Cola, Atlantic Western was engaged to market and sell this office and distribution warehouse in a remote and undeveloped area of Lake County complex. Inspite of on-going road improvement and zoning obstacles, after extensive marketing this complex was sold to a South Florida user on an all cash basis.
Client: Midlantic-PNC Bank, Edison, NJ
Property Description:
40 acres | SR 60 | Vero Beach, FL
Assignment Summary: As exclusive agents for Midlantic-PNC, Atlantic Western successfully marketed and sold non-contiguous tracts to a private investment group within the 12 month disposition assignment.
Client: First Fidelity Bankshares, Newark, NJ
Property Description:
10.5 acres, Delray Beach, FL (commercial) | 5.75 acres, Boca Raton, FL (commercial) | 20.8 acres, Vero Beach, FL (commercial)
Assignment Summary:
As agents for First Fidelity Bankshares, Atlantic Western successfully sold a multi-asset land portfolio consisting of commercial land tracts in Palm Beach and Indian River Counties. These parcels required extensive efforts to perfect specific development and approvals and overcome problematic title issues. Atlantic Western resolved these issues and marketed and sold each parcel to individual investor/users within the 12 month assignment.
Client: Colony Capital, New York, NY
Property Description:
Palm Beach Polo and Country Club | Wellington, FL | 2500 acre PUD
Assignment Summary:
Atlantic Western was appointed receiver on this substantially vacant center. Within three months, the property's physical and economic deterioration was stabilized. Atlantic Western assisted in the successful sale of the bank's judgment for a 100% recovery of the secured debt.
Client: NationsBank, N.A., Tampa FL
Property Description:
31,000 sf vacant warehouse/office | 8 acres commercial land SR 60 | Vero Beach, FL
Assignment Summary: Engaged by NationsBank as the exclusive listing agent, Atlantic Western prepared and executed a comprehensive sales program to bulk sale this remote facility to a single user. Atlantic Western successfully sold the entire Property on an all cash basis to a regional business within six months of assignment.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Tequesta Plaza | US 1, Tequesta, FL | 170,000 sf center anchored by K-Mart and Winn-Dixie
Assignment Summary: Atlantic Western's staff as asset managers for Midlantic provided the workout and REO advisory services responsible for the recovery, management, leasing and sale of this anchored retail power center. The $10,250,000 sale of this asset was completed within 4 months of assignment.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Ballantrae Golf and Yacht Club | St. Lucie, FL | 700 acres - Golf Course and Single Family PUD
Assignment Summary: As asset managers for Midlantic, the staff at Atlantic Western provided comprehensive loan workout services in connection with the troubled debt restructuring of a $70,000,000 single borrower exposure, which included this project. The successful work-out engineered by Atlantic Western's staff included financing the completion of this Project's Nicklaus Golf Course, all infrastructure and residential pods. The restructuring of this debt and completion of this project ultimately facilitated the entire exposure's sale to General Electric as part of a $225,000,000 portfolio sale, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Crystal Corporate Center Military Trail | Boca Raton, F | 126,500 sf - class A office
Assignment Summary: Atlantic Western's staff, acting as the asset managers and advisors to Midlantic, negotiated a successful debt restructuring on this class A office complex in Boca Raton. This workout lead to the loan's successful sale to General Electric as part of a $225,000,000 portfolio sale, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Royal Palm Financial Center, Phases III and IV | US 1, Stuart, FL | Twin Office Towers
Assignment Summary: Atlantic Western's staff as asset managers for Midlantic provided the workout and REO advisory services responsible for the successful recovery through bankruptcy proceedings of this multi-phase office complex. The complex was sold as part of a $225,000,000 portfolio sale to General Electric, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Wellington Marketplace Center Wellington Trace | Wellington, FL | 175,000 sf center - anchored by Winn-Dixie
Assignment Summary: Atlantic Western's staff, acting as the asset managers and advisors to Midlantic, negotiated a successful debt restructuring on this major retail center in Wellington. This workout lead to the loan's successful sale to General Electric as part of a $225,000,000 portfolio sale, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Stuart Marketplace Stuart, FL | 170,000 sf power center
Assignment Summary: As asset managers for Midlantic, the staff at Atlantic Western provided comprehensive loan workout services in connection with the troubled debt restructuring of a $70,000,000 single borrower exposure, which included this project. The restructuring of this debt ultimately facilitated the entire exposure's sale to General Electric as part of a $225,000,000 portfolio sale, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Rutgers Plaza | Dunn Avenue, Jacksonville, FL | 79,000 sf center anchored by Food Lion
Assignment Summary: Atlantic Western's staff as asset managers for Midlantic provided the workout and REO advisory services responsible for the recovery, management, leasing and sale of this retail center. The sale of this asset was completed within 8 months of assignment.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Boca Palms Racquet Club | Boca Raton, FL | 226 unit Garden Apartment Complex
Assignment Summary: As asset managers for Midlantic, the staff at Atlantic Western provided comprehensive loan workout services in connection with the foreclosure and troubled debt restructuring of a $12,000,000 single borrower exposure, which included this project. The successful work-out engineered by Atlantic Western's staff included financing the completion of this project, and facilitated the entire exposure's sale to General Electric as part of a $225,000,000 portfolio sale, which was also executed by Atlantic Western's staff.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Inverrary Gardens | Inverrary Blvd., Broward County, FL | 766 units - condominiums and apartments
Assignment Summary: Atlantic Western's staff as asset managers for Midlantic provided the workout and REO advisory services responsible for the recovery, management, leasing and sale of this multi-phase, mid rise residential complex. The $16,250,000 sale of this asset was completed within 12 months of assignment.
Client: Midlantic National Bank, Edison, NJ
Property Description:
The Bridge Hotel Camino Real | Boca Raton | 122 room hotel
Assignment Summary: Atlantic Western's staff, acting as the asset managers and advisors to Midlantic, provided comprehensive management and disposition services on this landmark waterfront hotel in Boca Raton. The property was successfully sold on an all cash basis in excess of the asking price, to a northeastern based investment group within six months of assignment.
Client: Midlantic National Bank, Edison, NJ
Property Description:
Sheraton Harbor Place | US 41, Ft. Myers, FL | 422 room hotel and convention facility
Assignment Summary: Atlantic Western's staff, acting as the asset managers and advisors to Midlantic, provided the lead in connection with the syndicated ownership of this prominent hotel facility in Ft. Myers. Following extensive renovations, and management turn-around, the property was successfully sold to a foreign investment group within six months, on an all cash basis.
Client: Resolution Trust Corporation/CSFB
Property Description:
A 108,000 s.f. retail community shopping center
Assignment Summary: Supervised and directed the litigation that facilitated the center's acquisition as REO. Continued direction and supervision of the Leasing and management efforts resulted in an increased in occupancy from 68% to 85% of nra, the completion of two special exception zoning applications, and the listing/marketing of the asset for sale.
Client: Resolution Trust Corporation/CSFB
Property Description:
A 50,000 s.f. retail community shopping center
Assignment Summary:
Within six months of a borrower's initial Chapter 11 filing, staff negotiated the successful release from bankruptcy proceedings and the ultimate recovery via sale of 100% of the lender's principal and interest.
Client: Resolution Trust Corporation/CSFB
Property Description:
A 90,000 s.f. multi-level shopping mall
Assignment Summary: During a two year period and prolonged. bankruptcy case, staff directed the litigation efforts which resulted in the successful appointment of an operating trustee, cash collateral stipulation and adequate protection award, and the formulation of a creditors' plan that provided for a sale free and clear of all liens. This asset was ultimately resolved via a loan sale on an all-cash basis.
Client: Resolution Trust Corporation
Property Description:
A 100,000 s.f. multi -structure industrial and mini-warehouse project
Assignment Summary: After two years of non-earning status, and failed workout attempts by the lender, within six months of assignment, this asset was converted to a performing debt restructure. Two years after follow-up management, this was producing yields in excess of 10% with an overall occupancy of 90%.
Client: Resolution Trust Corporation/CSFB
Property Description:
A 37,000 s.f. class A office building
Assignment Summary: Directed the successful acquisition as REO through foreclosure proceedings, and in a seven month period, staff supervised the leasing and management efforts that increased occupancy from 17% to over 50%. Within 13 months, the property was successfully sold on an all cash basis for 85% of appraised value.
Client: Resolution Trust Corporation/CSFB
Property Description:
A 27,000 s.f. class A office building
Assignment Summary: Directed the successful acquisition as REO through foreclosure proceedings, and in a seven month period, staff supervised the leasing and management efforts that increased occupancy from 17% to over 50%. Within 13 months, the property was successfully sold on an all cash basis for 85% of appraised value.