High risk High reward development project

[Fernando Díaz De La Vega]

Investment Info:

Large multi-family (5+ units) other investment.

18 unit mid rise condo building in the process of being built.

What made you interested in investing in this type of deal?

Thrill, adrenaline & architectural challenge given the highly complex site.

How did you find this deal and how did you negotiate it?

Through personal network, we exchanged land for a certain amount of air conditioned space.

How did you finance this deal?

Pré-sales and private loan

How did you add value to the deal?

By actually maxing out density with 18 units on a 3,470 sqft triangular lot.

What was the outcome?

So far 83% of units sold, building is still under construction.

Lessons learned? Challenges?

Challenges have been more related with technical aspects of the construction. As far as lessons learned, despite the lack of a conventional parking layout the projects great location has allowed for a smooth sales process.