Campbell Park

Built: 1975 - 124 Units

The Property:
Campbell Park (previously known as Village Creekside Villas) was built in 1975 with a total of 152 units. The property was converted to condominiums in 2006 and a total of 28 units were sold. In 2011, the remaining 124 units were sold as a bulk sale.   

Challenges:
Campbell Park condominium sales were not phased. The condos were interspersed through out the complex. Furthermore, the property had been partially renovated and a number of apartments and common exterior improvements were outstanding at the time of sale. 
Results:
HFO's relationships with syndication and private equity groups sourced a buyer that not only had expertise in condominium conversion, but had the experience to address outstanding maintenance issues and complete the conversion. The buyer also needed the horsepower to finance the asset without traditional lending sources.