Value Homes & Condos

In May 2009, 13th Floor established a stand-alone division to acquire and manage distressed single family, town home, and condominium product throughout Miami-Dade and Broward Counties. Using our expanded network of brokers, bankers and foreclosure experts to identify distressed residential purchase and sale opportunities, we are on track to purchase over 200 residences by the end of 2009. Homes are analyzed based on current income yield as well as potential capital appreciation. Typical transactions are acquired from banks and at public auction. Following purchase, homes will be repaired as required and aggressively marketed for rent. Homes are expected to be sold as market conditions improve over the next 24 – 36 months.