Las Vegas, NV
A 670 Unit luxury condo project in the heart of City Center.
Client – Ladder Capital and Pordes Residential
Engagement – Acquisitions, Capital Raise & Asset Management
Total Capitalization – Over $100MM
Advised client on acquisition negotiations with the seller, MGM Resort, and lead underwriting and due diligence efforts. Successfully raised over $100MM of debt and equity to complete the acquisition in late 2012.
Post-closing, created a business plan to revitalize the stalled sales efforts targeting buyer pools in Las Vegas, California, Canada and elsewhere. In addition, developed a comprehensive property enhancement plan that has led to a successful re-launch with more than 90 sales in 8 months. Provide project management services overseeing the sales & leasing, creative marketing and PR efforts. Asset management services, including but not limited to preparing monthly draw requests, design of model units, HOA management oversight, property maintenance management, tax and insurance compliance and payments. Provide in-depth reporting and analysis of all operations on a weekly and monthly basis.