Brownsville, TX
2014 – Las Palmas Retail Development is a 10-acre, high traffic development. Purchased as a full-service, functioning Holiday Inn/Convention Center/Restaurant and demolished. Converted into 6 commercial lots. 4 full-service restaurant pads, 2 multi-tenant lots. Currently a ground lease Olive Garden, Longhorn Steakhouse and one multi-tenant building with medical and retail users. Total Investment $2.7MM, valued at $18.5MM by lender. 1.5-acre, Olive Garden ground lease valued at $4.2MM in 2017.