Our client was the manager for more than 30 separate single-asset partnerships, including over 30 shopping centers across the country. This company was created when limited partners took legal action against the original syndicator of the individual partnerships. Draper & Kramer Realty Advisors was asked to consult with the new owners on the entire portfolio, and to specifically focus on seven distressed centers totaling 1.38 million square feet with 150 tenants.
Creating a Goal and Strategic Plan
Our goal was to provide overall strategic planning and implementation for the new owners and assist with asset management functions, such as overseeing and measuring the effectiveness and competency of the individual property managers.
In the strategic planning process, we analyzed each property on several criteria, including debt structure, the nature of the real estate asset, and its individual risk profile. Based upon the results, and factoring in the overall portfolio, we recommended a strategy for each major asset.
Our findings were reported to the owners in a comprehensive Business Plan. The recommendations included disposition, refinancing, debt restructuring, and capital expenditures to maintain or enhance value or asset repositioning. We also validated or recommended changes in property management responsibilities and worked with ownership to implement the strategic plan adopted for each asset.
Learn More
Michael Truesdale
Senior Vice President
Phone: 312-580-6521
michael.truesdale@draperandkramer.com
Draper and Kramer: A Tradition of Innovation in Investment Services
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