Lerner Real Estate Advisors unveils new name, reflecting its work with distressed properties
Formerly known as Maxcy Development Group, company helps with repositioning of properties
TAMPA, Fla. (December 2011) — Launching a new brand to better reflect the wide range of its work in this challenging real estate environment, Maxcy Development Group has been renamed Lerner Real Estate Advisors.
The company works with real estate lenders, investors, homebuilders, and developers, including assignments related to distressed properties throughout the Southeast. Its work focuses on providing assessments and strategic recommendations, repositioning properties, coordinating restructurings and workouts, and providing asset management services.
In the past 2-1/2 years, the company now known as Lerner Real Estate Advisors (LREA) has provided advisory services to over 40 developments, representing more than 43,000 residential lots, 10 million square feet of commercial and office space, and debt of approximately $1 billion.
In the past year, LREA has successfully completed four restructurings throughout Florida involving local developers and homebuilders, encompassing 2,700 residential units and nearly $134 million of original debt.
In addition, LREA Realty (formerly called Maxcy Development Group Realty), has sold or contracted to sell over $79 million in residential and commercial development projects, including sales of residential lots to national homebuilders.
And while LREA continues to work in the real estate development arena as part of its business, its predominant focus is on repositioning of distressed Community Development District properties for the high-yield municipal bond market that has financed large master-planned communities throughout Florida.
“The term ‘advisors’ better describes what we do,” said LREA president Harry Lerner, who has run Maxcy Development for 8 years, and bought the company from Latt Maxcy Corp. earlier this year. “Our wide range of real estate experience has allowed us to successfully handle all aspects of real estate development, from entitlement-related issues to finance and marketing, for most types of Florida and Southeast U.S. real estate.”
While the company’s name has changed, it will continue to manage residential and commercial assets of Latt Maxcy Corp., one of Florida’s largest landowners.
About Lerner Real Estate Advisors: Tampa-based Lerner Real Estate Advisors offers a combination of local knowledge and national-level experience, with team members bringing high-level expertise in fields ranging from development, sales and marketing to accounting and finance. The company was formerly known as Maxcy Development Group. For more information about Lerner Real Estate Advisors, visit www.LernerAdvisors.com.
Source: December 13, 2011 - Maddux NewsWire
