TRACK RECORD

Highline's principals have an extensive track record working in a wide array of real estate disciplines resulting in the knowledge and expertise to identify unique opportunities and maximize their value. We have experience in all facets of real estate including acquisitions, finance, management, leasing, brokerage, asset management, receiverships and construction providing the ability to develop and carry out the most effective business plan for each asset.

Our track record includes the following:

  • A track record asset managing or repositioning more than $1 billion worth of real estate
  • Experience coordinating the acquisition or sale of more than $2 billion worth of real estate
  • Sourced, structured and executed on more than $500 million of real estate investments which have generated average IRR's of more than 25% and an aggregate equity multiple of 2.5 times invested capital
  • 20 years of experience in the Florida markets provide superior knowledge of trends, opportunities and risks
  • A deep network of relationships with tenants, brokers, owners, banks and capital partners provides multiple avenues for sourcing real estate opportunities as well as the ability to gain informational advantages

Examples of prior projects:


Historical Examples Capitalizing on Highline's Investment Strategy:

Retail Repositioning:

  • Acquisition Date: May 2007 (peak of market cycle prior to financial collapse)
  • Property Description: 50,000 sf, two tenant retail property
  • Opportunity: Generate significant upside by negotiating buyout of anchor tenant paying rent which was significantly below market
  • Execution: Identified new anchor tenant at market rent, negotiated buyout of below market tenant thereby increasing NOI by more than 230%
  • Results: Sold property after a 5 year holding period generating an IRR of 29% and an equity multiple of 3x invested capital

Property Assemblage:

  • Acquisition Date: December 2012
  • Property Description: 1.7 acre former bank parcel, .5 acre vacant lot, canal easement
  • Opportunity: Substantially enhance value of the site by combining the properties into one 2.5 acre outparcel with access to the major intersection
  • Execution: Assembled separate parcels and obtained approvals to construct over a canal to create one contiguous parcel. Executed ground lease with national pharmacy for entire property
  • Results: Sold property after a 3 year period generating an IRR of 82% and an equity multiple of 5.1x invested capital

Opportunistic Retail:

  • Acquisition Date: February 2015
  • Property Description: 98,000 sf, 50% leased shopping center
  • Opportunity: Create value by renovating and leasing well located, underperforming shopping center
  • Execution: Acquired property in off market transaction, completed renovation and expansion plans to increase the size of the center by 17,000 sf and executed leases with two national anchor tenants totaling 62,000 sf
  • Results: Brought property from 50% to 95% occupancy level in less than a year and continue to enhance value by increasing rents and upgrading tenant roster

Opportunistic Office:

  • Acquisition Date: December 2002
  • Property Description: 275,000 sf Class B office building
  • Opportunity: Add value by improving quality of building, addressing near term expiration of 45% of the rent roll and increasing occupancy from 75%
  • Execution: Completed upgrade and rebranding of the building. Renewed and expanded several expiring tenants and attracted several new tenants bringing occupancy level to 95%
  • Results: Sold property after 3 year holding period generating an IRR of 62% and an equity multiple of 6.2x invested capital