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Client: Silverlake Enterprises Loxahatchee, Florida
Property Description:
59 acre Nursery | Wellington, FL
Assignment Summary:
Atlantic Western was engaged in 2004 as the exclusive agent by the owner to execute a sales program for the nursery acreage. The property was sold for $5,625,000 or $95,000 per acre, within 6 months of engagement, for equestrian development purposes.
Client: Woolbright Development Corp.
Property Description:
Hillsboro Square - Palm Aire Plaza | Federal Highway, Deerfield Beach, FL 127,000 | sf - neighborhood center
Assignment Summary:
Atlantic Western was engaged in 2004 as the exclusive agent by the owner to execute a sales program for the nursery acreage. The property was sold for $5,625,000 or $95,000 per acre, within 6 months of engagement, for equestrian development purposes.
Client: Woolbright Development Corp.
Property Description:
Universal Plaza University Drive | Lauderhill, FL | 225,000 sf - power center
Assignment Summary:
Atlantic Western assisted a private client in its as-is sale of this 112 acre tract, which was completed on an all cash basis for $14,400,000 within 10 months of engagement. Subsequently, as exclusive agents, engaged by the buyer, Atlantic Western created and executed a marketing and sales program for the development, sub-division and resale of this property.
Client: High Rock Lake Company
Property Description:
Worth Plaza | Lake Worth Road | Suburban Lake Worth, Florid | 89,000 sf - neighborhood center
Assignment Summary:
Atlantic Western was engaged to provide comprehensive property management, leasing and construction management services in connection with the physical and economic rehabilitation of this un-anchored center.
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: Woolbright Development Corp.
Property Description:
Coral Palm Plaza University Drive | Coral Springs, FL | 135,000 sf - neighborhood center
Assignment Summary:
Atlantic Western was engaged to provide comprehensive property, construction management, and leasing services on this foreclosed center. Upon acquisition, the center was 50% occupied and suffered from extensive deferred maintenance. Within a 12 month period, Atlantic Western totally renovated and re-anchored the center, increased occupancy to 98%, and subsequently sold the center to an institutional investor.
Client: Serape, NV (foreign)
Property Description:
Plantation Village Shopping Center | Broward Boulevard, Plantation, FL | 33,700 sf - multi-tenant neighborhood center
Assignment Summary:
On behalf of this offshore investor, Atlantic Western refinished this center and brought occupancy to 100% and sold the center for $2,200,000 to a private investor. Atlantic Western was retained as exclusive leasing agent and property manager by the buyer.
Client: Morrison's of Palm Beach, West Palm Beach, FL
Property Description:
Lantana Center | US 1, Lantana, FL | 24,000 sf - multi-tenant neighborhood strip center
Assignment Summary:
As exclusive agents for this private investor, Atlantic Western marketed and sold the center for $2,050,000 or $85.00 psf and was retained as the manager and exclusive leasing agent of the Property by the buyer.
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: 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: 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:
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: 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.