CASE STUDY #4:

BANK & INSTITUTIONAL ASSET STABILIZATION

CASE STUDY #0, #1, #2, #3, #4

Problem A:

800 Main St, a 61,000 square foot, mixed use building, in Southbury, CT was a foreclosed property with deferred maintenance and over 60% vacancy.

Solution:

The lender hired Pyramid to secure the property, manage the property to reduce costs while improving appearances and its brokerage team executed its marketing plan to fill vacancies and increase cash flow.

Outcome:

Pyramid successfully increased occupancy and sold the propert.

Problem B:

Halcyon Office Park at 94-104 S. Turnpike Rd in Wallingford, CT was a foreclosure consisting of four buildings totaling 65,000 square feet on five acres that was 55% vacant.

Solution:

Pyramid established a relationship with GE Capital who had control of the property. Pyramid stabilized the asset by performing landscaping, plumbing and other needed maintenance and put tenants in place.

Outcome:

Pyramid sold the asset.

Problem C:

A 44,000 sq. ft mixed use shopping center at 1700 Post Rd in Fairfield was a foreclosure with deferred maintenance and 50% vacancy.  It had been through two lenders.

Solution:

Pyramid stabilized the asset by determining what was wrong and what capital was available.

Outcome:

Pyramid reconfigured layouts, added an elevator, made necessary repairs, and leased vacancies.  Pyramid sold the property.

How we did it...

• Properties were neglected by    dysfunctional landlords.

• Banks, Institutions and the FDIC hired Pyramid.

• 3rd Location.

• Took over properties with vacancies over 50%.

• Pyramid used construction, management and brokerage team to fill vacancies.

• All properties were stabilized and sold by Pyramid.