ONE SARASOTA TOWER

Class A - Commercial
12 storey office tower - 150,000 sq.ft.
Sarasota, Florida

Problem:

Vacancy rate at 60%. Unfinished building renovations; poor reputation; severe tenant retention problems.

Results:

Vacancies reduced to 0% in months. Successful tenant retention program initiated and maintained. Renovations and leasehold improvements completed. "Best office building in Sarasota" as quoted by Sarasota Magazine. Owner's objectives were met.

MEADOW CREST APARTMENTS

Class C - Residential
Six 3-storey walkups, 163 units in total. Mortgagee in Possesion property.
London, Ontario

Problem:

Vacancy rate at 25%. High-risk tenant mix. Deferred maintenance and extensive property damage. Poor reputation. Building operations suffering negative cash flow.

Results:

Within 15 months decreased residential vacancies to 6%. Completed renovation of 134 units and common areas. Improved quality of residents and increased rents. Property achieved positive cash flow. Reputation improved and property was sold. Mortgagee's objectives were met.

LONDON TOWERS

Class A - Mixed Use
North Tower - 149 units, South Tower - 106 units with 52,787 sq.ft. retail & office space
London, Ontario

Problem:

Vacancy rate at 21%. Required renovations of 140+ occupied and vacant units. Rental income not maximized.

Results:

Within 10 months decreased vacancies to 1.6%. Unit renovations under budget. Vacant commercial units cleaned and renovated as necessary to prepare for leasing. Rental income maximized to meet owners' objectives.

THE SELBY

Class B - Commercial
4 storey commercial office building Mortgagee In Possession property.
London, Ontario

Problem:

Vacancy rate at 41%; building showed poorly; outdated common areas; required exterior repairs and interior renovations; property experiencing a negative cash flow; poor tenant retention.

Results:

Vacancies decreased to 2.2% within 7 months. New tenants in at market rates. Common area renovations completed to enhance building's appeal. Designed and coordinated fascade restoration, interior common area improvements, and tenant leasehold improvements. Owner's objectives were met.