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Strategic Advisory Group specializes in repositioning and workouts of distressed commercial assets, including office, industrial, retail and multi-family properties. We are on the cutting edge of the new "industry" of distressed real estate in which, opportunistic investment will occur in the form of "special assets" formerly known as "distressed properties". Assets may be geographically dispersed and will require expertise that has a national platform, local knowledge and due diligence capability. Lenders and other creditors will need to understand and underwrite large portfolios to one buyer, requiring the buyer to have a national platform of commercial real estate.
SAG combines a national network with local market knowledge in key investment cities. We have been trained to think like owners and we know how to assess individual properties and portfolios, develop strategies and implement them effectively to maximize results. We offer these services to special asset owners and servicers, opportunity funds and institutional investors, and high net worth groups.
Please view sample projects below.
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USAA
San Antonio, TX |
Diversified Portfolio Restructuring
Components: Portfolio of Office, Hotel, Amusement Park, Land
SAG team members prepared a strategic plan related to the real estate portfolio of USAA, a diversified financial services company. The strategic plan addressed the development of under-utilized assets, selection of development team members and management companies, and asset disposition strategies. Asset classes assessed included luxury hotels, amusement/theme park, office/flex space and land holdings.
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Lincoln Properties – General Electric
Dallas, TX |
Regional Shopping Mall Bulk Sale
Components: 12 Regional Shopping Centers
SAG team members performed the due diligence related to the sale of 12 regional shopping centers by Lincoln Properties to General Electric. The scope of services including a review and analysis of each lease in each shopping center, modeling of the leases and potential roll overs into Pro-Ject, projection of lease revenues, operating costs and net cash flows, and a valuation of the transaction.
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Myrtle Beach Convention Center and Sheraton Hotel
Myrtle Beach, SC |
Hotel Workout
Components: Convention Center and 400-room Convention Hotel
Project Value: $50 million
SAG is the asset manager for the Myrtle Beach Convention Center and Sheraton Hotel. SAG has managed the development of the convention center complex since 1992. SAG's services have ranged from feasibility to developer selection, contract negotiations, underwriter procurement, finance plan development, and operational asset management. Our role as asset manager has included monitoring performance from a market and financial perspective; reviewing annual marketing, financial and business plans; monitoring staffing levels; monitoring third-party contracts; assessing capital budgets; and reviewing compliance with lender covenants and other contracts. SAG also has performed asset management services for the convention center. Our services include reviewing annual business and marketing plans, contract negotiations, modifying booking policies, assessing staffing, and working with management to maximize the impact of the center.
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Dell America
Atlanta, San Francisco, San Jose,
Washington, DC, South Florida |
Multi-Family Repositioning
Components: Multi-Family, Condominium
SAG team members conducted field research, site analyses and asset performance review for potential rental apartment/condo conversion acquisition candidates in major metropolitan markets. Markets investigated included, Atlanta, Ft. Lauderdale, Miami, San Francisco, San Jose/Silicon Valley, and Washington, DC. Scope of work included review and analysis of relevant local economies, supply and demand trends and assessment of acquisition opportunities.
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Water's Edge Condominium
Clearwater, FL |
Condominium to Apartment Repositioning
Components: 175-Unit Condominium Tower
Project Value: $300 million
SAG professionals assisted the owner/developer of a troubled high-rise condominium tower in Clearwater, FL in its planning and negotiations with the bank holding the note. The plan included restructuring the loan and possibly converting the condos into for rent market apartments. Critical issues included legal issues associated with a full rescission of all pre-construction purchase reservations prior to certificate of occupancy and closing and redrafting the relevant operating documents of the property.
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