Asset Repositioning
Capabilities
Essex Capital has consistently created value for partners by identifying and repositioning undervalued assets. Through careful consideration of alternative property configurations and financing strategies, Essex has the ability to spot undervalued assets and transform them to achieve their full earnings potential. Essex Capital’s flexibility and creativity create a distinct competitive advantage.
The company pursues a range of assets -- from residential and retail to urban office – that require additional investment and management expertise. Essex is positioned to act quickly and effectively, turning around projects within a short period of time, adding value and freeing up capital for additional investments.
Asset Repositioning Case Studies:
2 Dag Hammerskjold Plaza
Essex Capital acquired a failing office building located one block from the United Nations campus and repositioned it to benefit from an untapped market niche: foreign nations looking to purchase commercial condominiums to capitalize on tax benefits. The building sold out within one year of Essex Capital's purchase of the property.
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636 Eleventh Avenue
Severely affected by the dot-com bust, this 600,000-square-foot commercial building was purchased by Essex Capital from Goldman Sachs' Whitehall Fund based on its vast untapped potential.
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500 Tenth Avenue
Essex Capital invested in Manhattan's untapped commercial west side, purchasing a sizable industrial building that was largely vacant and underutilized. Following an extensive renovation, an anchor tenant was secured, and the property is now poised to benefit from the area's major development initiatives.
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1500 Broadway
Essex Capital helped to revitalize Times Square with its acquisition and reinvention of this 500,000-square-foot tower in the heart of Midtown, eventually selling the building in what was one of the biggest commercial real estate deals in New York City at the time.
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