SplitRock

Real Estate Value Recovery Services

Real Estate Value Recovery Services

•PLP Companies brings together the entire skill set required to take over troubled real estate development or rehab projects and position them for income stabilization and/or sale.  We can complete construction or repositioning, lease up and manage properties, as well as broker and finance dispositions.

PLP Companies:

•PLP Management Corp. – Property Management
•PLP Reconstruction Corp. – General Construction
•PLP Development Partners  – Development
•Split Rock Group, LLC – Investment Banking/Finance

 

A History of Success:

•PLP Companies traces its roots back to the 1950s when the partners constructed mid-rise multi-family buildings and industrial warehouses in New York City for investment.
In the 1960s and 70s, the firm went on to develop mid rise buildings, stand alone homes and raw land in Brooklyn, Staten Island and Manhattan.
In the 1980s PLP structured tax-motivated partnerships and developed low-income housing, later taking part in the wave of rental property to cooperative conversions in the city.

Hands On Experience:

•In the 1990s PLP gained its first experience in Real Estate Value Recovery Services,taking over, stabilizing, operating and disposing of numerous multi-family properties constituting over 3,500 apartments in the greater New York Area for Freddie Mac (Federal Home Loan Mortgage Corp) under receivership and REO operating programs.

Contemporary Construction & Development Capabilities:

Throughout the 90s and early this decade the firm continued its development activities including:
•Conventionally financed rehabilitation and condo/coop conversions
As the Real Estate industry again changed focus in the 1990's, PLP concentrated on real property development, management and construction with an attention to the requirements of financial institutions and institutional asset managers.

As we move into the early 2000s’ PLP is a diversified real estate operation with the third generation of principals focused on various aspects in the Real Estate field including the ownership, development, operation, management and construction of a variety of projects.

•New construction
•Land development
•HUD insured projects

PLP Management Real Value Recovery:

•Completion of construction or rehabilitation projects.
•Management of residential and commercial property in economic distress.
•Development of operating procedures, practices and policies.
•Marketing or repositioning properties in an economic marketplace.
•Marketing and financing for disposition of reclaimed assets