Condos Conversion Distress

Condo Conversions were original residential rental apartments (Multifamilies) that were transformed to Condominiums, through a process called Condo-Conversion. The rationale was to acquire entire apartment complexes, fix them and later sell individual units to the general public on a retail basis. As happened with the Condominiums, prices collapsed during the Financial Crisis, allowing investors to buy units and lease them, generating attractive rental income, due to the lower basis of the acquisition.

Orlando, FL

THE GREENS

Address
3726 Palm Desert Ln.
City
Orlando, FL
Developer
Fortune
Role
Acquistion
Type
Condo-Conversion
Acquisition Price
US$ 1.400.000,00
Total Units
20
Total Sqf.
18.000
Avg. Size per Unit
900
Avg. Price per Unit
US$ 70.000,00
Price per Sqf.
US$ 78
Coral Spring, FL

ATLANTIC SPRINGS

Address
11299W Atlantic Blvd.
City
Coral Spring, FL
Developer
-
Role
Acquistion
Type
Condo-Conversion
Acquisition Price
US$ 1.430.695
Total Units
10
Total Sqf.
13494
Avg. Size per Unit
1.349
Avg. Price per Unit
US$ 143.070
Price per Sqf.
US$ 106
Altamonte Springs, FL

OASIS at Pearl Lake

Address
1037 Alden Pky,
City
Altamonte Springs, FL
Developer
-
Role
Acquistion
Type
Condo-Conversion
Acquisition Price
US$ 2.384.500
Total Units
25
Total Sqf.
24.806
Avg. Size per Unit
992
Avg. Price per Unit
US$ 95.380,00
Price per Sqf.
US$ 96
Coral Gables, FL

GABLES EDGE

Address
4520 SQ 67th Ave.
City
Coral Gables, FL
Developer
-
Role
Acquistion
Type
Condo-Conversion
Acquisition Price
US$ 1.080.100
Total Units
19
Total Sqf.
11.305
Avg. Size per Unit
595
Avg. Price per Unit
US$ 56.847
Price per Sqf.
US$ 96