Current Opportunities

LOAN AND REO PORTFOLIO PRODUCTS

Falling home values and speculative lending practices have led to record defaults and foreclosures. Lending institutions that have taken these properties back through foreclosure and are seeking ways to dispose of bulk portfolios. Funds raised by Genova are used to purchase bulk Mortgage Notes and REO Portfolios ranging in size from $2.0MM to $100.0MM at market discounts that range from 50%-70% off current market values.

REAL ESTATE DEVELOPMENT PRODUCTS

Genova remains dedicated to its core business of multi-family, industrial, office, and self-storage development. Leveraging its years of experience and strong relationships within the industry, Genova continues to forge opportunities in today’s uncertain market. Traditional developments have been modified to adapt to today’s market conditions. Current adaptations include, fully entitled developments, partially constructed projects, or assets that have fallen into default during lease-up or sales.

Fully entitled developments present an opportunity to capture future market with great upside potential. With a reduction in construction costs and inventory supplies being accurately measured, entitled projects can be purchased at a substantial discounted price creating future inventory as well as a low price point of entry and carrying costs. Genova is currently pursuing mixed use, retail, multi-family, and both attached and detached residential products.

Far from being a traditional development, today’s market offers an opportunity to purchase partially completed construction projects to those who are qualified. With more than 30 years of combined experience, Genova stands out from its competition with its in-house capability to underwrite and complete the build out of nearly any type of construction project. With construction costs at near record lows and limited competition, Genova has positioned it self well to take advantage of these types of market opportunities.

Today’s commercial and residential market conditions also include projects that have failed to convert from construction to permanent financing due to poor sales or lease-up. With shorter maturity dates and poor economic conditions many borrowers find themselves behind in their pro-forma and lease-up schedules. Financial institutions do not have the capacity to work out these types of developments that find themselves in default. This combination provides an opportunity for Genova and its team to either purchase the non-performing note or asset from the financial institution and reposition the project based today’s market conditions and investor expectations.