Most players in the today's real estate market are not adequately prepared or qualified to handle the complex realities of the current cycle. Many projects that were formerly considered "no-brainers" today find themselves in operational and financial failure. Furthermore, the vast majority of these properties are plagued with broken or fractional ownership structures which lead to potential successor developer liabilities, and defaulted homeowner associations that result in unexpected operational expenses. Most "vulture funds" looking to capitalize on these opportunities do not have the operational tools and experience required to handle these complexities. Indeed, the days of acquiring deals and selling them to the next buyer are gone. Simply put, in today's market, you eat what you buy.

In order to offer a complete menu of solutions, the 13th Floor team is available to provide first-class asset management functions. We base our asset management on our successful model for conversion - maintaining cash flow from rentals while simultaneously selling. This is a delicate but critical function that is management intensive, requiring creative strategies with proven success. (Additionally, we understand the importance of developing strong relationships with homeowner associations which are often very sensitive to having the members’ condo values potentially erode when the hybrid asset is operated as a rental property with a sales program working simultaneously.) This is paramount for the project’s success. Based on this knowledge and direct experience, we understand how to effectively manage and position projects that are only partly sold on a going-forward basis. Further, our years of experience and knowledge can help lenders manage assets in foreclosure or bankruptcy and position them for disposition, through aggressive and constant attention to cash flow.