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For over 35 years, Atlantic Western has remained one of the primary market makers for high value equestrian and agricultural land in the Wellington and surrounding markets; executing over 5,000 acres comprising over $500,000,000 in total sales and advisory assignments.
Client: Private
Property Description: Originally known as Villa Gubbio and constructed in 2000 by the well known luxury builder Laszlo Wagner, this 2 story Tuscan designed 10,500 sf residence located in the exclusive Bridle Path sub-division of Palm Beach Polo & Country Club and has long been considered one of the finest luxury homes in Wellington.
Assignment Summary:
Within less than 90 days of being engaged by the owner to exclusively list the property, Atlantic Western contracted and executed the all cash sale of this property for $13,000,000, representing the highest price ever paid for a residence in Palm Beach Polo, and during one of the most profound market slow-downs in recent S. Florida history.
Client: Remuda Atlántico, LLC
Property Description: In 2024, Atlantic Western negotiated the $3,400,000 private treaty sale of this turn-key polo facility, within South Forty Polo Club; the only fractional equity polo club in the United States.
Assignment Summary:
For over 25 years, Atlantic Western has been the primary “market-maker” of polo farm sales within the South Forty Polo Club, where private farms are tightly controlled and seldom sold. To date, this represents our 13th sale of a private farm within this exclusive club.
Client: Longfield Farm Florida & Clearwater Polo
Property Description: Atlantic Western negotiated the $3,700,000 private treaty sale of this turn-key polo facility, representing the highest price paid to date for a property within South Forty Polo Club; the only fractional equity polo club in the United States.
Assignment Summary:
For over 25 years, Atlantic Western has been the primary “market-maker” of polo farm sales within the South Forty Polo Club, where private farms are tightly controlled and seldom sold. To date, this represents our 12 th sale of a private farm within this exclusive club.
Client: Payson Park Thoroughbred Training Center, Inc.
Property Description: Following Atlantic Western’s advisory role in assisting the owner during 2015-2018 in its sale of the Payson Park Training Center, in 2023, the owner’s representatives elected to market and sell the remaining 258 acres.
Assignment Summary:
Atlantic Western was engaged as the Seller’s exclusive agent and completed the $5,100,000 full-price, all cash sale of this property within 90 days of engagement.
Client: PSF POLO LLC
Property Description: Following Atlantic Western’s 2020 sale of 40 acres within Port Mayaca Polo Club, PSF Polo developed a state of the art polo facility including 28 stall barn, clubhouse, tournament field and equestrian infrastructure.
Assignment Summary:
Atlantic Western was engaged as the Seller’s exclusive agent and completed the $3,000,0000 all cash sale of this property in the same season.
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: Affiliates of H & J Contracting, Inc.
Property Description: 10 acres zoned heavy industrial on N. Rock Road, in St. Lucie County’s Russakis Business Park.
Assignment Summary:
Atlantic Western exclusively represented affiliates of H & J Contracting in their offering of this heavy industrial parcel. Within 60 days of engagement, Atlantic Western sold this tract for the full asking price of $1,500,000; reflecting one of the highest per acre industrial sales in St. Lucie County during 2022.
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: 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: Mecca Farm Affiliates & Hughes Construction Affiliates
Property Description: 6.8 acres at the Northwest Corner of Acme Dairy Rd. and Boynton Beach Blvd. in Palm Beach County’s AG Reserve, Palm Beach County, Florida
Assignment Summary:
Over a 3 year period, Atlantic Western represented affiliates of Mecca Farms in their complicated entitlement and rezoning of this mixed use parcel, providing advisory and brokerage services and the pre-development sale of a 2 acre parcel approved for self-storage to affiliates of Hughes Construction in 2022 for $2,400,000.
Client: PORT MAYACA DEVELOPMENT COMPANY and related interests
Property Description: Phase 2 Port Mayaca Plantation – 565 + acres Martin County, Florida
Assignment Summary:
Over a six year period from 2015 through 2021, Atlantic Western exclusively represented the owners of this 25 lot agricultural sub-division comprising over 565 acres including the Port Mayaca Polo Club, and provided comprehensive advisory services on property and POA management, assisted in the formation of a club membership structure for future lot owners in connection the strategic positioning for the club and creation of a retail lot sale program which resulted in the successful 100% sellout of the project’s lots, totaling over $9,500,000 in sales, at an average 96% of list price. Starting at inception with the club in its infancy, as of assignment completion in 2021, Port Mayaca Polo Club is now widely considered to be the most successful and popular multi-owner polo club in S. Florida.
Client: Private Interests
Property Description: 100+ acres owned by affiliates of Florida Power & Light (FPL), located in NW Marion County, Florida
Assignment Summary:
In 2021, Atlantic Western was engaged by private interests to assist in their acquisition of excess land owned by FPL located in Marion County, north of Ft. McCoy, Florida which resulted in the closing & purchase for the client.
Client: Mecca Farm Affiliates
Property Description: 6.8 acres at the Northwest Corner of Acme Dairy Rd. and Boynton Beach Blvd. in Palm Beach County’s AG Reserve, Palm Beach County, Florida
Assignment Summary:
Over a 2 year period, Atlantic Western represented affiliates of Mecca Farms in their complicated entitlement of this mixed use parcel, providing advisory and brokerage services and the pre-development sale of a 1.5 acre outparcel to ABC Liquor Stores in 2021 for $1,400,000.
Client: Private Interests
Property Description: Originally developed by the legendary 10 goal polo star Memo Gracida, the 162 acre Portales Polo Horse Ranch includes 3 barns, two regulation polo fields, 21 paddocks, together with an 85+acre improved pasture and support infrastructure.
Assignment Summary:
After being previously offered by various other brokers, Atlantic Western was engaged as the Seller’s exclusive agent and thereafter, during the height of the Covid-19 pandemic, Atlantic Western completed the $1,550,000 sale of this property.
Client: INTERNATIONAL FARMING CORP. AFFILIATES
Property Description: 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: Ashbourne Farms & BlueGrass South Properties
Property Description: This 30 acre farm is one of the largest improved equestrian facilities in Loxhatchee including a stable, polo field, improved grand prix riding ring, various residences and maintenance facilities.
Assignment Summary:
Atlantic Western was engaged as the Buyer’s representative to evaluate and acquire the Property in the 2nd quarter of 2020 during the height of the Covid-19 pandemic. Atlantic Western completed buy-side thorough due diligence and inspections, and completed the $5,200,000 acquisition within 30 days of engagement and was retained by the Buyer post closing to advise and supervise development improvements.
Client: Windsome Farms Limited
Property Description: Windsome Farms was Wellington’s largest, and most iconic equestrian facilities available for sale. Exquisitely developed and maintained, this unique 80 acre property includes a 52 stall European designed Stable, 5 acre Bermuda Grass Grand Prix Field, Sand Jumping Ring, Training and Championship Dressage Rings, together with paddocks, support & maintenance facilities, apartments, and residences.
Assignment Summary:
After being listed for sale with various other agencies for over 10 years, within 5 months of being engaged as the seller’s exclusive representative, Atlantic Western engaged Helgstrand Dressage, the largest European based dressage trainer in Wellington, resulting in the property’s all-cash sale for $17,450,000.
In separate transactions, also for this Seller, Atlantic Western successfully sold 20 acres of adjacent equestrian land in 2019 for $6,000,000.
Client: Tommy Lee Jones
Property Description: San Saba Polo Farm, Wellington, Florida - 55 acres with 2 polo fields, 48 stables, housing and related infrastructure.
Assignment Summary:
After being listed for sale with other agencies for over 8 years, within 6 months of engagement
Atlantic Western successfully negotiated and executed this exclusive property’s all-cash sale
for $11,500,000; equating to 96% of list price.
This event marks Atlantic Western’s fourth consecutive sale of this property in the past 30
years.
Client: Mecca Farm Affiliates & Private Investors
Property Description: 160 + acres – AGR Farm Land, Palm Beach County, Florida
Assignment Summary:
Over a 3 year period, Atlantic Western represented affiliates of Mecca Farms in a 145 acre farm tract zoned AGR (Ag Reserve), providing advisory and brokerage services in its as-is sale, together with adjoining unrelated lands, to private investors in 2019 for $16,300,000.
Client: Private Investors
Property Description: 37+ acres Palm Beach County, Florida
Assignment Summary:
Over a 3 year period, Atlantic Western represented the private owners of this 37 acre tract providing advisory and brokerage services which successfully achieved mixed-use approvals for 185 residential units and 396,000 sf of commercial, and the as-is sale to affiliates of Mattamy Homes in 2018 for $12,025,000.
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: International Farming Corp. Affiliates
Property Description: 300+ 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 this 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.
Client: Gramercy Property Trust
Property Description: 12,315 SF Office Building Complex | 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: Loxahatchee Pines Golf Center West Palm Beach, FL
Property Description:
20 acre par three golf course | SR 80, Southern Boulevard | West Palm Beach, FL
Assignment Summary:
Atlantic Western was engaged as the exclusive listing agent to market and sell this executive par 3 golf course and proshop operation. The assignment was successfully completed and sold for $1,100,000 within 6 months of engagement. The property was resold in 2015 for $2,100,000.
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, 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: Private Interests
Property Description:
Payson Park | Indiantown, Florida | 405 acre Thoroughbred Training Facility
Assignment Summary:
Exclusively engaged by the private owners of this legendary training facility, Atlantic Western executed a marketing, publicity and brokerage campaign to offer this unique and historically significant property for sale for the first time in over 30 years.
Client: Private Interests
Property Description:
50 Residential Lots | 28 Acres | St. George Island, Florida
Assignment Summary:
Engaged in 2012, Atlantic Western provided advisory services to a private ownership syndicate of development tracts in the very popular destination of St. George Island. Services included the formation of a complete due diligence report, market study, valuation and strategic disposition plan.
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: Palm Beach Polo & Country Club Homeowners
Property Description:
Palm Beach Polo & Country Club, Master HOA | Wellington, Florida
Assignment Summary:
In 2012, Atlantic Western was appointed by the Palm Beach County Circuit Court as a monitor to oversee and execute the court ordered turnover and master HOA board election of this 1,214 unit PUD, to the homeowners from its master developer. Such assignment was successfully completed in 90 days.
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: J-5 Wellington Preserve, LLC
Property Description:
150 acres | Platted Sub-division | Wellington, Florida
Assignment Summary:
In 2011-12, Atlantic Western represented the buyer in the $14,367,000 partial bulk-acquisition of a distressed sub-division in Wellington, Florida. Over the next year Atlantic Western provided post-closing entitlement, design, advisory and project management services to permit and construct a private polo & equestrian complex including 5 polo fields and supporting infrastructure. Services provided by Atlantic Western included oversight and direction of site plan preparation and regulatory approval, ERP/SFWMD permitting, Master Plan Amendment Approvals, Land Development Permitting, project design and engineering, re-platting, construction contracting and financing.
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: Private Interests
Property Description:
14,000 acres known as the Escape Ranch; considered to be one of the finest recreational/conservation ranches in Florida.
Assignment Summary:
During 2010-2011, Atlantic Western was exclusively engaged as co-brokers with Hall & Hall to provide brokerage services for this $35,000,000 trophy/legacy ranch in central Florida; which efforts successfully resulted in the sale of 50% interest in the ranch.
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: Ironwood Properties, Delray Beach, FL
Property Description:
Michael’s Creek, Orchid Island | Antilles, Vero Beach Cannery Row, Delray Beach | Combined 163 acres approved for 400 residential units
Assignment Summary:
In 2008, Atlantic Western was engaged by Ironwood to provide advisory services in the recapitalization and restructuring of $65,000,000 in development and construction financing on these three projects.
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: Private Interests
Property Description:
Three agricultural tracts totaling 37.5 acres situated along the Florida Turnpike | Lake Worth, Florida.
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: Caulkins Land Holding Corp., Denver, CO
Property Description:
Three tracts totaling 34.8 acres partially approved for the development of 11 single family waterfront tracts, situated along the St. Lucie River and Kanner Highway, Martin County, Florida.
Assignment Summary:
Atlantic Western was exclusively engaged in 2007 to market and sell these tracts. Within 6 months of engagement, this assignment was completed resulting in the as-is, all cash sale to affiliates of the King Ranch, for $1,550,000 , or approximately $44,500 per acre.
Client: Jan Pamela Polo, Jackson Hole, WY
Property Description:
70 acre Polo & Equestrian Complex | Wellington, FL
Assignment Summary:
Exclusively engaged as the buyer’s representative and advisor, Atlantic Western provided strategic valuation, brokerage, advisory and due diligence services in negotiating and completing the $21,600,000 cash acquisition of this strategic land assemblage.
Client: Ironwood Properties, Delray Beach, FL
Property Description:
The Strand Development Tract | 3.14 acres approved for the mixed use development of 134 residential units & 29,000 sf of commercial space
Assignment Summary:
In 2006, Atlantic Western was exclusively engaged by Ironwood to market and sell this fully approved development tract. Within nine months of assignment, the entire property was successfully sold for $10,000,000 all cash, representing $73 psf.
Client: Private Interests, Wellington, FL
Property Description:
Catamount Polo Farm | 20 acres with private polo field, stable and owner’s residence Wellington, FL
Assignment Summary:
Exclusively engaged by the owner in 2005, to market and sell this trophy equestrian asset, Atlantic Western completed the assignment within 9 months of engagement, achieving $6,500,000 all cash; representing one of the highest per acre sales ever recorded at the time in the asset’s particular sub-market.
Client: BMC Corporation
Property Description:
Commercial Outparcels | Suburban Palm Beach County, Florida
Assignment Summary: Atlantic Western was exclusively engaged by the client to sell and/or long term ground lease a portfolio of commercial outparcels on the perimeter of a Publix shopping center. The assignment was completed in 2005 with two transactions: one for $27 psf all cash for future development,; and the second to Washington Mutual Bank under a long term ground lease.
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: Wellington Golf Group, LLC Wellington, Florida
Property Description:
180 acre, 36 hole golf course with Country Club | including a 38,000 sf clubhouse, tennis center, banquet facilities and supporting maintenance infrastructure located in Wellington, Florida
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: Lara Enterprises, Coral Springs, Florida
Property Description:
547 acres of undeveloped industrial land Palm Beach County, Florida
Assignment Summary:
Atlantic Western was engaged by the owner as the exclusive broker for the sale of this tract of undeveloped land; which was successfully completed for $5,500,000 cash in 2004.
Client: Ironwood Properties
Property Description:
The Annex at Magnolia Court | 10,000 sf of Boutique Commercial Condominiums | West Palm Beach, Florida
Assignment Summary:
In 2004 the Developer engaged Atlantic Western Realty Corp. to market and pre-sell ground floor commercial condominiums ahead of construction in connection with the mixed use residential and commercial development known as Magnolia Court, in downtown West Palm Beach. Atlantic Western completed the re-sale effort ahead of schedule which resulted in the sell out of the entire project for shell values in excess of $225 psf.
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: 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: Ironwood Properties, Delray Beach, Florida
Property Description:
A boutique 16,000 sf Office Building | Downtown Delray Beach, Florida
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: 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: 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: Private Interests
Property Description:
112 acres - Undeveloped Land | Wellington, FL
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: 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: Private interests
Property Description:
40 acres - Polo and Equestrian Complex | Wellington, FL
Assignment Summary:
Atlantic Western assisted a private client in its initial purchase of this 40 acre tract, which was developed into a full service polo and equestrian complex. Subsequently, as exclusive agents, Atlantic Western was engaged by the client to create and execute a marketing and sales program for the property which was successfully completed within one year for $3,000,000.
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: 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: Ironwood Properties
Property Description:
Magnolia Townhome Development | Dixie Highway and Olive Avenue | West Palm Beach, Florida | 60 Unit Luxury
Assignment Summary:
Atlantic Western was engaged as an exclusive advisor to provide underwriting and equity finance origination services for this $25,000,000 for-sale urban townhome development in downtown West Palm Beach. Atlantic Western assisted the owner with underwriting and in arranging both the debt and equity that successfully financed this project.
Client: Hobby - Catto Properties, Ltd., Houston, Texas
Property Description:
43 acres - undeveloped | I-4 Corridor | Volusia County, FL
Assignment Summary:
As exclusive agents for out of state investors, Atlantic Western was engaged to develop a comprehensive strategy, value opinion and execute a marketing and sales program for this tract of industrial development land. Atlantic Western successfully sold the tract for 93% of the established asking price within a six month period.
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: 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: Camaro Farms, Inc., Pahokee, FL
Property Description:
Western Palm Beach County, FL | 1350 acre farm
Assignment Summary:
Atlantic Western was engaged as a strategic advisor for the owner's negotiation with South Florida Water Management's acquisition of this strategic parcel as part of the Everglades restoration project.
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: Dornum Holdings, NV (foreign)
Property Description:
45 acres Zoned Commercial | Wellington, FL
Assignment Summary:
As exclusive listing agents and advisors to this foreign investor, Atlantic Western repositioned this vacant commercial tract and executed a multi-phased sub-division for the sale and eventual development of a 224 unit class A apartment project, office complex, ACLF and hotel.
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: 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: Ocean Properties, Boynton Beach, FL
Property Description:
Carriage Homes of Boynton | Congress Avenue, Boynton Beach, FL | 466 units - class A apartments
Assignment Summary: Atlantic Western provided loan and asset sale advisory services to the owner of this class A, 466 unit apartment community which assisted in the discounted prepayment of institutional secured debt and the property's sale for $30,800,000.
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: Linda Kreck as trustee, Flying Orange Ranch
Property Description:
350 acres, Citrus Grove | Wellington, FL
Assignment Summary:
As exclusive listing agent, Atlantic Western advised and directed the marketing efforts for the sale of this orange grove in Palm Beach County. Atlantic Western was subsequently retained by the buyer to execute a sub-division and resale of the tract to various investment interests.
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 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/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
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.