Hollywood Portfolio

Innovative solution creates off-market opportunity to buy well-located product in the desirable Broward County submarket.

This transaction represented the acquisition of a 13-building portfolio totaling 520,722 SF, all located along the I-95 corridor in southeast Broward County. Developed between 1989 and 2000 by a private local developer, the properties include a mix of small bay industrial, higher finish showroom buildings. They were all located within a commercial area that serviced the local South Florida metros. The portfolio was struggling to maintain occupancy due to too much debt.

The transaction was structured as a deed-in-lieu of foreclosure, whereby the borrower agreed to convey the fee to its lender. We purchased the note from the lender and simultaneously closed on the deed-in-lieu, obtaining fee title interest in the portfolio. The deal also included attractive seller financing and a profit sharing agreement in which the lender had potential to recover additional prencipal.