Assignment
To acquire and complete a failed residential luxury condominium project in West Raleigh, and to sell it profitably.

Objective
Financing the acquisition and selecting a general contractor to complete unfinished units was the immediate objective. Then the balance of the fifteen-unit project had to be redesigned to more market sensitive floorplans and amenities.

Opportunities/Challenges
Much of the original construction work was defective and needed to be corrected and the brokerage community did not believe the project could succeed.

Results
In the two years since acquisition, we have started the final phase of five units and the project has been selling briskly. Prices have increased three times since the start and original buyers have enjoyed handsome returns on their investments.