Distressed 700- Unit Condominium Project
Lender retained our firm to determine their strategic options to address a construction loan due on a recently completed 700-unit high rise condominium project with no sales. We identified the best trategic business option by undertaking market studies and rigorous financial proformas on each candidate option. The financial analysis highlighted the sales absorption as well as the total revenue generated for each option. We also determined the project carrying costs through completion of sales. We offered our recommendation on the best option to recover funds and maximize the opportunity for the project.