Significant Development Projects
Daytona Mall 100 N. Nova Road Daytona Beach, FL (240,000 SF on 18.5 Acres)
Reconstruction of 120,000 SF of storm damage, dealt with the media, negotiated with claims adjustors, and contractors, completed the projects $250K under budget.
Saratoga Resort Villas 4787 W. Irlo Bronson Memorial Hwy Kissimmee, FL (118 Condo Receivership)
I was appointed the receiver on this project. Took over a failed condo/hotel conversion and renovated 118 units for the Lender during the foreclosure process at a $3.5MM savings than what was presented to the Lender by the Borrower. Managed a 50+ construction crew for 18 months.
Then, I negotiated a note sale for the Lender.
Knights Inn Hotel 7200 International Drive Orlando, FL (120 room hotel Receivership Assignment)
I was appointed the receiver on this project. Borrower was stealing the AC units and destroying the value on a 120-room hotel in Orlando, FL. Secured the project, stopped the vandalism, restored the hotel at a savings over $500K budgeted by the Lender, and then I sold it for the Lender. Lender did not lose 1 penny from the original loan, legal, renovation costs and my costs.
Parkview Center 493 SR 436 Casselberry, FL (65K SF office complex)
Redeveloped this failed office complex that was left open to the elements for years during litigation. Mold remediation, R&R of interior buildout, and roof replacement for the project. Savings were over $1.5MM less than the lowest bid from local GC’s due to my supervision during the construction.
Legacy Point 5749 Westgate Drive Orlando, FL (52K SF failed condo project Receivership Assignment)
I was appointed the receiver on this project. Partially completed office condo project. Stabilized the development, completed the core elements, and site and sold the asset for the Lender. Negotiated a note sale for the Lender and completed the improvements before the foreclosure.
Deland Meineke Automotive 1301 S. Woodland Blvd Deland, FL (Commercial Redevelopment)
Purchased this single tenant retail property in horrible condition. Redeveloped and created a multi-tenant property and the leased it out and sold the investment. Held for 12 years with an 827% ROI%
Orlando Multi-Tenant Automotive 185 S. Semoran Blvd Orlando, FL (Commercial Redevelopment)
Purchased the property in 2013 for $450K with debt and invested $58K in a facelift renovation and then leased it out at market rates. Key to this project was construction management as I hired my own subs and ran the crew for 4 months. Sold the property 2 years later and made a 784% ROI.
Orlando Harley Davidson 46 N. Orange Blossom Trail Orlando, FL (Commercial Renovation)
Purchased this vacant motorcycle dealership with major code violations and safety hazards and restored the property into current building code, negotiated with the City of Orlando on the massive liens on the property and sold the project to a user. Held for 30 months with a 430% ROI.
Dunkin Donuts 946 W. SR 436 Altamonte Springs, FL (Commercial Redevelopment)
I purchased this former Mexican restaurant and subdivided the property into 2 units, and performed a facelift renovation and then leased the property to Dunkin Donuts and AIO Wireless (Cricket). Total holding period was 2 years with a 440% ROI.
Rent A Wheel 2921 S. Orlando Ave Sanford, FL (Commercial Redevelopment)
Orlando Meineke 4400 W. Colonial Drive Orlando, FL (Commercial Redevelopment)
I purchased a single tenant commercial property in bad condition and did a facelift renovation and created a multi-tenant property. I leased it out and held for income. Held the property for 6 years with a 1,155% ROI.
Queen of Pawns 5623 W. Colonial Drive Orlando, FL (Commercial Redevelopment)
I purchased the note on this restaurant which was in bad condition. Negotiated a deed in lieu with the current owner, renovated the property and changed the use to a pawn shop since the area supported these uses. Held the property for 7 years with a 2,041% ROI.
Tuff Sheds 8524 E. Colonial Drive Orlando, FL (Commercial Redevelopment)
I purchased the note on this property. Owner did insurance fraud and burnt down the property but the insurance company discovered the arson and he lost the property. Negotiated a deed in lieu, renovated the property and changed the use to a shed sales building. Held the property for 2 years with a 480% ROI.
Honest One Automotive 4797 S. Semoran Blvd Orlando, FL (Commercial Redevelopment)
I purchased a single tenant commercial property in bad condition. Tenant did a facelift renovation and I leased it out and held for income. Held the property for 14 months with a 262% ROI.
Rent N Roll 1021 Lee Road Orlando, FL (Commercial Redevelopment)
I purchased a single tenant commercial property in bad condition. Tenant did a facelift renovation and I leased it out and held for income. Held the property for 20 months with a 754% ROI.
Sonny’s Bar-B-Que 3189 S. John Young Parkway Kissimmee, FL (Receivership Assignment)
I was appointed a court appointed receiver with Community Bank of Florida where the Borrower was funneling resources from the collateral and hiding from the Lender. Project had major theft and code violations and I stepped in, stabilized the asset, negotiated with the County on the liens, changed the use to a funeral home and sold the asset for the Lender. Lender received every penny that was owed on this assignment.
Old Winter Garden Industrial 4625 Old Winter Garden Road Orlando, FL (Receivership Assignment)
I was appointed a court ordered receiver on a 17 unit failed condo conversion project for InterCredit Bank. This was a tough assignment as the Borrower had leased units to Tenants that did work without permits and numerous code violations had been assessed to the property which the Borrower had failed to cure. I had to remove Tenants, deconstruct the un-permitted construction, get the fines reduced, and then stabilize the asset for the Lender. Once stabilized, I sold the asset for the Lender.
Daytona Plaza 1210 N. Nova Road Daytona Beach, FL (Redevelopment Project)
I took over this project and removed several of the Tenant and did a facelift renovation on the property and sold it for 3 times the purchase price for the investors.
Bennett Auto Supply 105-111 W. Melody Lane Casselberry, FL (Receivership Assignment)
I was appointed a receiver on this assignment. Borrower let the property fall into horrible condition and the lender appointed me the receiver and I performed mold remediation on 2 buildings, coated the roof and leased out 2/3’s of the property during my receivership assignment and then sold the asset for the lender. Then I stabilized the property for the new owner and sold it for them several years later. Got over $100K+ in liens removed during my assignment.
Cameron Heights Sanford, FL (Highest and Best Use Assemblage Project)
Created an assemblage of 12 contiguous property owners to allow a developer to change the zoning into a residential development. Took 3.5 years to complete and the total acquisition cost was $12.5MM and the project was sold off with paper lots at PSP for $37.5MM.