REGIONAL CAPITAL GROUP ACQUIRES AND RENOVATES A 193,000 SQUARE FOOT OFFICE COMPLEX IN SOUTH FLORIDA
RCG is providing Borrower(s) with alternatives to traditional financing solutions…..
Dade County, Florida (Oct 08) – Regional Capital Group, a Direct Commercial Real Estate Lender and Investor announces the acquisition of a controlling interest in a 193,000 square-foot office complex in Northern Miami. RCG originally provided preferred equity for the acquisition of the site one year ago. Recently the managing member had liquidity issues unrelated to RCG’s asset, which made it necessary to sell their interest in the project. RCG promptly purchased the managing member’s interest in the project and immediately introduced a new management team to the property.
RCG faced many challenges during this process, which ultimately resulted in the engaging of a maintenance and construction company to address the deferred maintenance issues. RCG has increased their investment in the property to in excess of $12 million which includes an additional $1million towards improving the condition of the property. Throughout this process, the site has maintained an average occupancy of above 90%. RCG’s ongoing analysis and involvement in the project allowed them to proactively approach the managing member, propose an appropriate buy-out solution, and ultimately bring in another property manager -- which has resulted in a reposition of the office complex from a Class “C” space to a high-level “Class B” property. RCG’s utilized their analysis and asset management skills to improve the value of the investment and asset. The actions that RCG took have improved the occupancy of the project and attracted tenants at higher rents.
In addition to a primary role as a lender, RCG partners with developers and investors to acquire performing and nonperforming real estate assets, RCG has a unique team with experience in real estate lending and investment, development, entitlement, construction and property management. RCG’s staff consists of problem solvers with the resources to create unique solutions to complex real estate funding issues. They have closed in excess of $5 Billion in real estate funding and investment over their careers.
RCG continues to provide capital for a variety of real estate projects in challenging times. They work together with other lenders, investors, and developers to provide funding for troubled projects or those that have lost funding due to the contraction of the market. RCG utilizes it funding capabilities to take advantage of opportunities with short time frames and makes decisions very quickly when presented with specifics on a situation. The principals have weathered troubled markets in the past and have provided consulting and loan work out direction to lenders and investors of all types for over 30 years. This transaction is an example of a situation where RCG utilized its vast experience and intuition to solve a problem and further enhance the management and value of a project.
ABOUT REGIONAL CAPITAL GROUP
Regional Capital Group is a private short term real estate lender and investment company specializing in creative funding solutions. RCG provides creative loan programs for commercial and residential properties structured in the form of debt, equity and mezzanine financing. Regional Capital Group offers alternative loan structures which may fall outside of the traditional lending sources to expedite a closing should an opportunistic situation arise. RCG is still active seeking new projects to fund.
For more information, visit Regional Capital Group online at http://www.regionalcapital.com or call (856) 983-4800.