Desert Lakes This project is roughly 2,400 acres projected to have 6,000 homes, a golf course, and roughly 100 acres of commercial located in Coachella, California. This project was a joint venture between Lennar and Specialty Financial (Private REIT). Greencrossing Real Estate Companies was hired to manage the overall entitlements and development. This work included developing the land plan, financial modeling, Caltrans negotiations, budgeting, partnership reporting and seller negotiations. This project is expected to build out over ten years and generate over $700M of revenue. (Note: this project is still in the planning and entitlement stages)
MSR Holding Company LLC Provided consulting and asset management services for this joint venture between Morgan Stanley and Lennar Corporation. The venture was formed in 2007 and includes over 10,000 lots located in multiple states. Greencrossing Real Estate Companies worked closely with the venture to establish certain business plans, operating and disposition strategies.
The Picerne Group Provided complete asset review, underwriting and valuation services for a portfolio of assets. The portfolio consisted of 12 projects and over 1,000 lots and homes in various stages of development. The projects were located in San Diego County and the Inland Empire. Portfolio value was in excess of $25M.
Specialty Financial Provide ongoing advisory services related to non-performing residential land loans in California, Arizona and Nevada. Total value of the loans are in excess of $100M.
Midwest Hedge Fund Provide complete asset review, valuation and alternatives analysis for a master planned community investment San Diego County. This hedge fund held a $45M note on the property and was renegotiating the terms with the borrower. Our analysis and recommendation gave the hedge fund the information it needed to negotiate the best possible solution for their loan.
East Coast Based Alternatives Investment Firm Provided valuation and due diligence services related to a syndicated note purchase of over $500M. The note was secured by a master planned community in Las Vegas.
Private Real Estate Investment Fund Provided valuation, due diligence and strategy services related to the potential acquisition of an FDIC loan portfolio that included over 100 loans with a combined principal balance over $550M.
West Coast Private Real Estate Investment Fund Provided valuation, underwriting and strategy services related to the potential acquisition of Landsource, a multi-faceted real estate joint venture between Lennar and Calpers once valued at $2.6B.
Asset Management & Consulting
Greencrossing Real Estate Companies provides a wide range of asset management and consulting services. Our Principals have worked in all facets of the residential real estate space including land entitlement and development, production home building, real estate capital markets (both equity and debt), market research, acquisitions & dispositions, and mergers & acquisitions. This breadth of experience and knowledge allows Greencrossing to evaluate situations from all stakeholder perspectives. It is with this unique understanding that Greencrossing can analyze, consult, and implement solutions for our clients. Our clients include real estate funds, lenders and land owners. Engagements range from single asset feasibility studies to long term asset management services.
