| CASE STUDIES |
| “I look at Downtown Los Angeles as a blank canvas that I can
paint on. I've lived here for 24 years - and I love being able to create my own neighborhood. The new supermarket and many of the upscale restaurants are here as a result of my work.
”
— Mark Tarczynski |
NEC 1st Street and Alameda
9.89 Acres
Value: $43,000,000
Historical and Forecast Housing
Absorption & Rental Rate Studies
Financial Analysis &
Buyer Qualification
Property Management
Contracted Legal Representation
Sale Negotiation
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Evergreen International Corporation
- Challenge: Find a qualified investor/developer to purchase nearly 10 acres of development land located in the industrial sector of Downtown Los Angeles at a price never achieved in the area.
- Solution:
- Developed a compelling story for the advantages of purchasing a "fully entitled" re-development property.
- Immediately alerted Client when Metropolitan Transit Authority (MTA) pushed through a defective Environmental Impact Report for an above ground light-rail line that blocked access to the property's two most important access streets.
- Recommended filing lawsuit blocking development of the light-rail line and seeking significant severance damages.
- The Result: 8 weeks after listing was awarded, 3 offers were presented from 3 qualified
investor/developers. City of Los Angeles purchased property for historically high price to resolve pending litigation.
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9th & Flower, Los Angeles, CA
7.2 Acres
Value: $40,000,000
Demographic Analysis
Traffic Studies
Financial Analysis
Buyer Qualification
Liaison between Govt. Agencies
and Buyer
Entitlement procurement
Sale Contract Negotiation
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Shuwa Investments, Inc.
- Challenge: Achieve premium price for a 7+-acre development site in an otherwise
lackluster market.
- Solution:
- Analyze and determine highest and best use of the property:
multi-unit high-rise residential over retail.
- Convince a major retailer (Ralphs Supermarkets) to locate at the site.
- Convince Community Redevelopment Agency (CRA) to provide gap financing for the Supermarket development up to $10 million - thus increasing value of property.
- Create a compelling housing shortage story justifying over-market asset price.
- Identify and convince target developers of the opportunity.
- The Result: 15 offers received within 8 weeks - 4 were over the asking price.
Developer to develop a 1,400 residential unit project over 100,000 SF of retail. Total project cost $250 million.
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Historic Bank Building
Downtown Los Angeles, CA
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Evergreen International Corporation
- Challenge: To assemble an entire city block for redevelopment as adaptive reuse residential.
- Solution:
- Develop a series of staggered contracts for lease with option to purchase and purchases of separately owned adjacent property.
- Promote product type feasibility in newspapers and local forums.
- Provide market value analysis to Lenders to assist Buyer in acquisitions.
- Negotiate purchase extensions on original assemblage and Phase Two of development.
- The Result: Over a two-year period new adaptive reuse boom was established in Historic Core Area of Downtown Los Angeles. Single Buyer acquired block of property for residential lofts and retail uses
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Hayward Hotel
601 South Spring Street
Downtown Los Angeles
150,000 SF
Value: $8,000,000
Transaction management of Buyer
and Seller's legal counsel
Purchase Contract Negotiation
Informal notice requirements to
public agencies.
Due diligence review
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Hayward Hotel - Pacific Investments
- Challenge: To acquire a Section 8 Hotel for a reasonable price, which was adjacent to the Buyer's property. Property was negatively impacting Client's other real estate investments in the area.
- Solution:
- Developed a relationship with the property receiver to access due diligence files.
- Established pre-transaction thresholds with bondholder in control of the asset to reach “conceptual agreement” on a
transaction structure agreeable to both Buyer and Seller.
- Utilized contacts within Los Angeles City Government to determine legal notice requirements and obstacles to ownership
change and asset use change that affected policy mix of housing agencies.
- Negotiated partially funded foreclosure process specific to property and requirements of Buyer and bond holder group.
- The Result: Two years after contract execution, successful foreclosure was achieved,
Buyer acquired property and renegotiated terms of public housing agreement, thereby removing substandard tenancies and raising area property values.
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