Evergreen International Corporation
NEC 1st Street and Alameda
- Historical and Forecast Housing Absorption & Rental Rate Studies
- Financial Analysis & Buyer Qualification
- Property Management
- Contracted Legal Representation
- Sale Negotiation
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.
- 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.
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.
Shuwa Investments, Inc.
9th & Flower
- Demographic Analysis
- Traffic Studies
- Financial Analysis
- Buyer Qualification
- Liaison between Govt. Agencies and Buyer
- Sale Contract Negotiation
Achieve premium price for a 7+-acre development site in an otherwise lackluster market.
- 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.
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.
Evergreen International Corporation
Historic Bank Building |
Downtown Los Angeles, CA
To assemble an entire city block for redevelopment as adaptive reuse residential.
- 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.
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.
Hayward Hotel - Pacific Investments
601 South Spring Street
- Transaction management of Buyer and Seller's legal counsel
- Purchase Contract Negotiation
- Informal notice requirements to public agencies.
- Due diligence review
To acquire a Section 8 Hotel for a reasonable price, which was adjacent to the Buyer's property. Property was negatively impacting the client's other real estate investments in the area.
- 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.
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.