Sometimes a struggling property needs more than just a facelift – it needs to be completely reimagined and renovated. That was the case with Harbor Heights Senior Living Center in Anaheim, California. From the bottom – up, everything in the property needed work.
At LK Asset Advisors we know how to bring a property back to life. After a full assessment, LK determined that the facility, if renovated to market specifications and properly managed, would provide a high ROI to the owners.
The results of the renovations, business enhancements and sales efforts have been impressive by every measure. The renovations on the 78,000 sq ft building were completed ahead of schedule and within budget. Construction took 10 months to complete, and a majority of the property upgrades were funded by a $2.75M Pace Loan obtained by LK. Post renovation, the facility’s rates have increased over 450% while net revenue increased by 423% (6/20 to 10/22.) The marketing efforts have created long-term brand awareness in the marketplace and occupancy has increased more than 86%.
LK Asset Advisors has extensive experience in receivership management, financing, business liquidation, and the dissolution of trust assets. Our team works to maximize the value of your business assets. While acting on behalf of the Court, LK manages the funds and will execute a plan to maximize the return on the debtor’s or estate’s assets.
For more information or to have one of LK Receivership experts contact you directly, please fill out this form.