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Select Transactions – Residential Real Estate
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Promenade at Northplace
Glenfield Capital purchased a non-performing loan from a commercial bank collateralized by 26 newly constructed townhome units in a North Atlanta suburb.
The firm orchestrated one of Atlanta’s first retail auctions and successfully sold all units within eight months at a significant return on investment, despite significantly deteriorating market conditions.
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Hillside Hollow
Glenfield Capital purchased the majority of a foreclosed townhome development in a low-income area of Atlanta from a commercial bank. The property had been abandoned by a developer, leaving a mixture of completed townhomes, partially constructed townhomes, and lots cleared for future construction.
Despite the fact that changes in FHA guidelines severely impacted the ability of potential buyers to obtain financing and market conditions continued to deteriorate following the acquisition, Glenfield Capital successfully sold all of the units sold within a year, resulting in a significant return on investment.
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Vinings Crest Townhomes
Glenfield Capital purchased a non-performing loan from a commercial bank, collateralized by 24 units in a newly developed 194-unit townhome community in Atlanta.
The developer had essentially abandoned the project and there was significant maintenance required in the community and sales activity was very weak. Market conditions have continued to deteriorate and government programs that supported purchaser financing have changed significantly, negatively impacting the ability of targeted buyers to secure financing.
In spite of this, Glenfield Capital is successfully marketing and selling the units at a significant return on investment.
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Meridian at Ridgewalk
Glenfield Capital purchased five newly constructed single-family homes in a partially completed development north of Atlanta from the special assets group of a commercial bank. Glenfield completed its due diligence process and closed the all-cash transaction within 14 days, meeting the seller’s specific timing requirements.
In spite of continued economic weakness, Glenfield Capital is successfully marketing and selling the units at a significant return on investment.
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Select Transactions – Commercial Real Estate
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Appleton Papers, Kansas
Glenfield Capital joint ventured the acquisition of a 230,000 square foot industrial facility located in Kansas City, Mo. for approximately $7.5 million. The tenant, Appleton Papers, had just completed an employee-led buyout. With the improved financial strength of the tenant and increasing demand for single-tenant properties, the building was sold after a two-year hold period at a significant return on investment.
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ModusLink, Utah
Glenfield Capital joint ventured the acquisition of a 336,000 square foot corporate facility located in suburban Salt Lake City, Utah. The building was acquired for $12.5 million and sold approximately after two years for a significant return on investment.
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Shoppes of Boaz, Alabama
Glenfield Capital joint ventured the acquisition of a vacant 90,000 square foot vacant Wal-Mart store located in Boaz, Alabama. The property was redeveloped, expanded, and repositioned as a multi-tenant retail property and new leases were commenced with national retailers. The property was completed and 100 percent leased within a year and sold at a significant return on investment.
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