Holcombe

Situation: Assemble three parcels of land and plan and zone a 420 unit residential development

Solution: The community was opposed to this development due to the size and the current traffic and school overcrowding.  We were able to make improvements to the school using the sellers funding to acquire municipal approval

Success: The project was sold to a national builder with a return in excess of 100% IRR in a 24 month period


Larkin

Situation: Acquired from bankruptcy a failed 18 hole golf course and 600 unit residential development

Solution: Create a plan for investors that would turn a $1.5 million investment into residential lot and golf course valued at over $4 million. The solution was to reactivate the golf course through good management, capital improvements and create a residential plan that was acceptable by the market

Success: This project was sold to a national builder to be developed as an active adult community


Stonebridge

Situation– Acquired a failed 18 hole golf course, 580 lot residential development without sewer

Solution– The county required $2.5 million to run a sewer line. Partnered with a local industry to receive sewer capacity for $165,000

Success- The project was sold at over 200% IRR to its investors over a 3 year period


Delta Bluffs

Situation– Acquired 1300 acres near a proposed ocean port that had previously received development approval but had been terminated

Solution– Was able to negotiate a new development agreement for 30 years with the county. Developments fees 50% of what the rest of the projects in the area were paying

Success– Is the closest high ground to a new deep water port and is a commercial/industrial development. It was sold for 110% profit margin


The Greens at Birkdale

Situation– Was a 137 acre mixed use development where three sellers could not agree on the price

Solution– Average the price by having two of the sellers reduce their sell price to accommodate the third higher price

Success– The project was sold at a substantial profit 5 years later and won both ULI and NHBA awards


Legends Oaks

Situation– Acquired an unsuccessful 18-hole golf course and 1200 residential lots

Solution– Brought in builders and subordinated their lots until they could sell the homes

Success– Sold out of the project over 1200 units in 8 years and successfully sold off the golf course


Lake Russell South Carolina

Situation-  Acquire from the State of South Carolina land to develop 372 single family lots including community docks and recreational facilities.

Solution- Work with the State and the Army Corps of Engineers to obtain development rights for the only lots on the Lake with docks.

Success–  Formed a joint venture with the State including special State legislation requiring the Army Corps of Engineers to sell the land to the State and allow development on a lake that was previously restricted for development.