Case Studies

 

Acquisition Strategy: Consider the Entire Life Cycle and Think Outside the Box

  • Domaine
  • 92 Units
  • Year Built: 2008
  • Year Acquired: 2009
Domaine, a failed-condo project, was a departure from Alliance’s typical acquisition target. However, we saw considerable potential for conversion, given the community’s central location among Seattle’s hippest neighborhoods, proximity to Lake Union and unique floor plans with condo-grade finishes. After careful evaluation, Alliance took the challenge of acquiring one of the first deals converted to rental in the marketplace.

The Goal: Convert and rebrand as for-rent, and overcome the stigma associated with the community as a failed-condo project by positioning it as a natural fit for residents accustomed to a higher standard of living who also desire the convenience of leasing.

The Work: At the time we acquired Domaine, interest in financing was very... >>

Acquired & Repositioned For Successful Sale

  • Vista Catalina
  • 90 Units
  • Year Built: 1971
  • Year Acquired: 2010
  • Renovations Completed: 2012
Within the prestigious city of Rancho Palos Verdes, Vista Catalina (formerly The Madison) boasts a unique location on the cliffs overlooking the Pacific Ocean. With close proximity to the South Bay’s professional core and nationally-distinguished school district, the area is a highly desirable location for families and working professionals alike. In 2010, Alliance factored the property’s location, the significant restraints to building in the area and the strong household incomes, and decided to acquire the 90-unit community.

The Goal. As one of several Ranchos Palos Verdes apartment communities built in the 1970s that had not undergone any interior or exterior renovations, Alliance quickly implemented a focused renovation plan to reposition The Madison as Vista Catalina, a top-of-the-line... >>