Case Studies

JREA had the opportunity to acquire a condo development which was slated to have 43 units. This was one of the first luxury buildings in this area of the Rockaways. The sellers were in default on their loan and needed to recapitalize. JREA purchased the debt from the lender, completed the work and sold 95% of the units within 12 months. The IRR on this transaction as 44%

Jacobs Real Estate Advisors, LLC partnered with CityView Commercial LLC, for the purchase of the Southlake Mall in Morrow, GA. CityView Commercial is the Real Estate arm to Jimmy Jazz which owns and operates 200 stores all
over the country. Southlake Mall is a two-level mall consisting of approximately 1,015,984 square feet of gross leasable area. The property boasts strong tenant sales with a vibrant lineup of national inline tenants and a
high-volume Macy’s. New additions such as H&M,Forever 21, RED, and Chime Solutions have reinforced Southlake Mall’s position in the market. Based on our hands-on management experience we were able to increase the NOI over $2M in the first year of the acquisition. Cash on cash returns year 1 were 23.8%. In 2020 we were able to purchase the 1st mortgage from our lender at a 59% discount to the mortgage.

Jacobs Real Estate Advisors, LLC with an affiliate purchased the Gallery at Warren Conner an 111,710 square foot shopping center in Detroit, MI. The transaction was closed in 10 days. The property was previously bank-owned and was purchased via auction at a 70% discount from the original note. The Gallery currently has below-market rents yet still boasts above-average sales per tenant square foot. Tenants include Forman Mills, Footlocker, Rainbow Apparel and CitiTrends. After stabilizing the property, we were able to refinance all of the equity out of the property which still maintains strong cash flow at the property. Prior to any appreciation of the asset there is a 59% IRR.