Multi-Family Distress Resolution

Back in the boom especially in south Florida, we had seen how converters turned old rental apartment buildings into condominiums, selling the fixed-up units at a premium to buyers priced out of new luxury developments. Some 520 Florida rental complexes were converted to condo in 2005 and 635 in 2006, state records show. The housing market’s collapse halted the conversion craze, sending many projects into distress as financing and buyers evaporated. Therefore, condo conversions are failing from one end of the country to the other. We have successfully implemented a new game plan that can turn these failed endevours into extremely profitable opportunities.

Link the IDB story here

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