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GOLF VIEW ESTATES

Location: Springfield, PA
Community: 191 Active Adult Condominiums
Average Sales Price: $191,000
Acquisition Date: October 1995
Exit: Direct Sales to Homeowners
Exit Date: October 2000

Market Opportunity:
Infill active adult property acquired at a RTC auction at below market price. McKee redesigned the site plan and repositioned the product to enhance its value and homeowner appeal. Limited competition for active adult communities in the area.

Investment Approach:
  • Distressed property purchase; value add achieved through site and product redesign.
  • Purchased partially improved lots.
  • Sold and constructed homes.