Sovereign Articles
Orchid Grove Bulk Sale
By Marcos Egipciaco
Oct 4, 2011
Sovereign Real Estate Group orchestrated a transaction that consisted of 58 townhome units located in Pompano Beach, FL.
Sovereign was hired by an in place receiver to perform leasing and marketing to the residential end-user community. Sovereign conducted a thorough market analysis to pinpoint realistic current market rent levels and projected lease up timeline.
Sovereign fully stabilized the property in a very short period of time with current occupancy at 100%. Immediately following asset stabilization, Sovereign arranged a bulk sale of all 58 townhomes. The buyer valued Orchid Grove on a capitalization rate basis.