The packet of papers that lay in front of him intrigued Victor Alexander.
The papers encompassed a catalog that the Garden State Bank had amassed in an attempt to sell the Bonnie Road Distribution Center in Somerset, New Jersey, for roughly $9.7 million.
The New Jersey real estate market was recovering and it was April 2013 and the capital markets were in disarray. 10 friends had convinced to put up $200,000 each in addition to his own $200,000 to acquire one or two troubled properties. Alexander chose to focus on warehouse properties due to their comparatively small size, their strong historic operation, and his relevant experience. He wondered whether a good investment would be made by Bonnie Road.
PUBLICATION DATE: June 04, 2013 PRODUCT #: 813186-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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