What we Do

We find underperforming/distressed properties that include mobile home parks, office buildings and apartments. After acquiring them, AD will fix them and clean them. We will generally use contract personnel with expenditures that include property managers, on site managers, landscapers, plumbers and electricians. 

The property is stabilized allowing market rents to be charged and the initial investment refinanced and returned. Getting the property to run on this near autopilot stage permits the time luxury for the ultimate takeout/payoff of a sale to a developer or institutional investment firm. 

The two keys that allow us to do this are the acquisition and refurbishment management functions we have built. AD has people on the ground in our area of focus in the central Florida area. These people have knowledge of and have built relationships with many mobile home park owners over the last 4 years. They are visited on a regular basis with all kinds of intelligence obtained about the status of their park and others. Most of the sales of these parks are relationship driven, many times with no market listing and a significant reluctance to sell to what is perceived as “Wall Street”. AD believes because of this, we are able to acquire such properties at prices others cannot. 

There is a similar sourcing function for commercial, office and apartment buildings. We have significant experience in identifying and managing refurbishment expenditures to obtain as much “bang for the buck” so the improvements will be valued by tenants resulting in the willingness to pay increased rents, which directly impacts the value of the park and ability to refinance. 

Most low-rate lending sources (banks) evaluate the property on a net operating income basis. A cap rate is used based on the area, building type and class of property. Higher rents, driving net operating income, increases the value of the property and the amount of refinancing that can be obtained, and the return of invested capital. This is at the core of AD's strategy.