Laura Waxmann’s Post

As Mike Tyson once said, everyone has a plan until you get punched in the face. This very much applies to real estate. A what feels like perfect plan results in a different outcome for reasons out of your control. In 2019 we acquired a shopping center, navigated the pandemic and executed 2 new leases, completed our development plan which materially reimagined the look and feel of the center, leased up the balance of our vacant space (including an end cap that had been vacant for over a decade) and extended all 3 anchor tenants. Great result. Then less than 12 months after we extended our largest tenant for 10 years we received news of the tenant’s bankruptcy and a potential lease rejection including our store. Major change. This was not a part of our plan. We huddled up with our partners (leasing, legal, investors, lender, architect, contractor) and put an updated plan in place. In the end, our openness, colloboration and creativity resulted in a 10 year lease with an investment grade credit tenant that will invest heavily in the store, complement our tenant mix, and drive greater traffic to the center. The result not perfect but a great outcome given the cards we were dealt. As always, great partners and a willingness to lean in to the tough stuff makes the difference. Thank you to our partners at Newmark led by John Jennings, the team at Harvest LLP led by Fernando Landa and of course our team at SENTRE for making great things happen in a tough environment. #SENTRE #Builtforthis #Partnership #Development #Retail #Reimagined

From $𝟭𝗠𝗻 to $𝟮𝟰𝟬𝗠𝗻 🚀 𝗧𝗵𝗶𝘀 investment 𝗰𝗮𝗽𝘁𝘂𝗿𝗲𝘀 𝘁𝗵𝗲 𝗿𝗲𝗮𝗹𝗶𝘁𝘆 𝗼𝗳 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗵𝗲𝗻 𝗶𝘁 𝗴𝗼𝗲𝘀 𝗿𝗶𝗴𝗵𝘁: the returns can be staggering. Let’s dive in… ▶ Real Estate Investment: The Chelsea Market, New York ▶ Initial Investment: $1Mn (in 1990s) ▶ Exit: Sold for $240Mn in 2018 ▶ Investment Multiple: 240x The Chelsea Market in New York City is an iconic real estate example. A private investor bought a stake in this 𝗹𝗼𝘄-𝗽𝗿𝗼𝗳𝗶𝗹𝗲 𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗽𝗿𝗼𝗷𝗲𝗰𝘁 in the 𝟭𝟵𝟵𝟬𝘀 𝗳𝗼𝗿 $𝟭𝗠𝗻 when the area was considered a more industrial neighborhood. 𝗜𝗻 𝟮𝟬𝟭𝟴, the property was 𝘀𝗼𝗹𝗱 𝗳𝗼𝗿 𝗼𝘃𝗲𝗿 $𝟮𝟰𝟬𝗠𝗻, 𝗯𝗿𝗶𝗻𝗴𝗶𝗻𝗴 𝗶𝗻 𝗮 𝟮𝟰𝟬𝘅 return on the initial investment. This sale came after the market had shifted, and Chelsea Market became a sought-after, high-end location with restaurants, shops, and offices. #alternatives #investment

SALE Learn More: https://lnkd.in/gdnDQEMC DATE: 11/04/2024 ADDRESS: 292 Madison Avenue MARKET: Midtown Manhattan ASSET TYPE: Office BUYER: 60 Guilders, LLC, Alt Equity Group & Premium Merchant Funding (PMF) SELLER: Vanbarton Group LLC BROKER: Newmark SALE PRICE: $90,500,000 SF: 204,200 ~ PPSF: $443 NOTE FROM BROKER: On November 4th, 2024, 292 Madison LLC, the entity established to acquire the property, finalized the purchase of the iconic 292 Madison Avenue. This milestone represents a significant step in securing a premier asset in Midtown Manhattan. Among the stakeholders, Premium Merchant Funding (PMF) played a pivotal role as both an investor through its real estate investment fund, ROLA, and came in as a building tenant, leasing the entire 10th floor, and helping to increase occupancy to near 92%. The 27-story Art-Deco office building was acquired from the Vanbarton Group for approximately $90 million, marking a notable chapter in its storied history. On November 18th, a ribbon-cutting ceremony celebrated this remarkable achievement. The event attracted a distinguished group of attendees, including building investors Ouni Mamret, Yossi Althkefati, and Shlomo Althkefati. From the Rola side were Sam Lallouz, David Saadia, Elie Golshan, Nash Fabregas and other partners. Held in PMF's newly leased offices, the evening featured a cocktail and networking event with representatives from PMF, ROLA, and the 292 Madison investment team and other investors. The celebration culminated with a toast to new beginnings, highlighting the collaboration and ambition that made this acquisition possible. This transaction underscores 292 Madison LLC's vision to enhance its real estate portfolio while showcasing the strength of collective investment efforts. The acquisition sets the stage for future growth, positioning 292 Madison Avenue as a cornerstone in Midtown Manhattan's dynamic commercial real estate market. #NewYork #RealEstate #TradedNY #NY #NewYorkRealEstate #NYCRealEstate #TradedPartner #MidtownManhattan #NewYorkCity #Office #Newmark #PremiumMerchantFunding #VanbartonGroup #60Guilders #AltEquityGroup

Dive into Our Latest Market Insights with Jones Street’s Matthew Ranalli In a recent Commercial Real Estate Direct article written by Orest Mandzy, Matt shares insights into the current market landscape and how we're positioning ourselves for success. "Now is a good time to buy," he said. "Cap rates are higher, and folks are on the sidelines." Despite the increase in rates, we see a prime opportunity for favorable risk-adjusted returns. Ranalli stated that in our markets, rent growth continues to be robust and renewals are strong. Read the full article here for an in-depth look into our recent acquisitions and strategies: https://lnkd.in/ebdDQZrX #CommercialRealEstate #InvestmentStrategies #MarketInsights #JonesStreet #SuccessStory

I never had the chance to share this huge milestone when it happened, as I was waiting for the green light from our legal team. But now, I am beyond excited to share the news: we’ve officially closed on the Portofino Club Apartments! This stunning 230-unit, garden-style apartment complex located in Jacksonville, FL, is now part of the Blue Vikings Capital portfolio. We are incredibly proud to have brought over 30 investors into this deal, negotiating fantastic returns within our fund. As always, I have personally invested in this opportunity, just as I do with every deal I bring to our investors. Why did I choose Portofino Club Apartments? Location, Location, Location! Situated in the affluent Hidden Hills neighborhood, it boasts proximity to major employment centers like the Hidden Hills Golf Club, Heritage Beach, Regency Square Mall, and downtown Jacksonville. Strong Market Fundamentals: Jacksonville offers strong job growth, population expansion, and industry diversification. The area’s median household income of $83K and a rent/median income ratio of 20% further underscore its appeal. Value-Add Potential: With plans for modernizing interiors and enhancing amenities, we anticipate significant rent growth, providing a great return on investment. The property’s high occupancy rate in the past 12 months demonstrates its desirability. Exceptional Team: The success of this investment is backed by the stellar team at ATX Acquisitions, who have a proven track record with over 100 assets acquired, totaling over $2 billion in value. Their extensive experience and strategic vision will drive the success of this investment. We are excited about the future of Portofino Club Apartments and look forward to seeing the positive impact this investment will have on our portfolio and our investors’ returns. Thank you to all our investors for your trust and support. Here’s to great success together! #bluevikingscapital #multifamilyinvesting #realestateinvesting #passiveinvesting #wealthbuilding #financialfreedom #happyinvestors

Lubert Adler Partners and Keystone are finalizing a deal to buy the Bourse and 400 Market in joint venture. The joint venture partners plan to convert the neighboring Old City properties to new uses, sources said. To read the full article, head to:  https://lnkd.in/eEjp8urY For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

JUST SOLD 🔑 At Elevate Group, we try not to sell real estate, we don’t follow a rigid 3, 5, or 7-year holding period. We sell when the timing is right. Case in point: 8719 S Michigan Ave, Chicago, IL 60619—a fully rehabbed 3-bedroom, 2-bathroom home in the Chatham neighborhood. This property was part of a larger 25+ home portfolio in Chicago's South Side, where we already own over 100 similar homes. Unlike our usual hold strategy, this asset was positioned for a flip due to its location, condition, and the tenant we inherited. After our in-house renovation team completed a full gut rehab, we successfully sold the property for $250,000, achieving a strong 30% return. Check out the before and after pictures to see the transformation. This successful flip is a testament to our flexible approach and commitment to maximizing returns for our investors. #RealEstateInvestment #FlipStrategy #ChicagoRealEstate #ElevateGroup #StrategicSales

New Listing Alert! Discover a rare gem in the heart of a thriving commercial hub! This commercial property spans just under 5 acres and is packed with potential for savvy investors and entrepreneurs alike. Boasting high visibility and accessibility, it sits conveniently near I-74 with an easement to Harrison Ave., ensuring a steady flow of traffic and customers. Key Features: -Prime location with high traffic counts -Easy accessibility from I-74 and Harrison Ave. -Water, sewer, and electric connections on-site -Versatile zoning for a variety of business ventures -Proximity to major highways and key amenities -Ideal for retail, office spaces, restaurants, and medical facilities -Perfect for creative development: think shopping centers, office complexes, vibrant restaurant hubs, and more! -Strategically located near Kroger, Lowe's, and major hospitals like Tri-Health, Children's Hospital, and Christ Hospital, this property offers not just convenience but a strategic advantage for your next business venture. Ready to turn your entrepreneurial vision into reality? Don't miss out on this exceptional opportunity in prime real estate. Contact us today for more details and to schedule a viewing! Offered at $1,800,000 #CommercialRealEstate #InvestmentOpportunity #BusinessVentures #PrimeLocation

As someone deeply committed to urban revitalization and community growth, I am thrilled about the numerous benefits this acquisition brings and the potential it holds for fostering a more inclusive and diverse environment. Here’s why this is such a significant moment: Enhanced Shopping and Dining Experiences: One of the most exciting aspects of this acquisition is the potential to revitalize the Plaza's retail and dining scene. We can look forward to a diverse mix of high-end and boutique stores, alongside a variety of dining options that cater to all tastes. This will make the Plaza an even more attractive destination for both locals and visitors, celebrating a rich tapestry of cultures through food and retail. Economic Growth and Job Creation: The revitalization of the Plaza is poised to drive significant economic growth. By attracting new businesses and fostering a vibrant commercial environment, this acquisition will create numerous job opportunities and contribute positively to the local economy. Vibrant Community Engagement: The Plaza has always been a hub for community activities, and this acquisition will only enhance that. These events will bring people together, celebrate the diverse cultures within our city, and foster a strong sense of community and belonging. Support for Local Businesses: As a small business owner, I am particularly excited about the possibility Dallas Group’s commitment to supporting local businesses. They should understand the importance of maintaining the unique character and charm that local entrepreneurs bring to the Plaza. This support will ensure that the Plaza remains a place where local businesses can thrive, contributing to a vibrant and inclusive community. Fostering Diversity and Inclusion: One of my hopes with this acquisition is that it brings more diversity and cultural representation to the Plaza. Hopefully The Dallas Group is committed to creating an environment that welcomes everyone, no matter their background or community. By promoting diversity and inclusion, we can ensure that the Plaza is a place where all feel valued and represented, enriching the community with a variety of voices and experiences. Creating a Dynamic Future: This acquisition represents a new chapter for the Country Club Plaza, filled with promise and potential. enhancements, creating a dynamic and vibrant future for this iconic landmark. Together, we can build a Plaza that reflects the diverse and inclusive spirit of Kansas City. Together, we will ensure that the Country Club Plaza remains a cherished and inclusive destination for generations to come. #Sustainability #HistoricPreservation #Diversity #Inclusion #Shopping #Dining #CommunityEngagement #LocalBusiness #UrbanRevitalization https://lnkd.in/gTuQfqVG

• Shopoff Realty Investments rejuvenates undervalued real estate by converting distressed retail spaces into residential units, addressing California’s housing crisis while ensuring properties are vibrant and profitable. • The firm is actively transforming four properties, highlighting the potential for such redevelopments in the face of a changing retail landscape and housing needs. • Overcoming challenges like city regulations, tenant relocations, and financial feasibility is crucial for success, emphasizing the importance of strategic acquisitions and local cooperation.