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 The
high-profile turnaround of this desirable property demonstrates
the results FRI Investors is capable of achieving through
its hands-on management expertise. Strategically located
near I-95 and Palm Beach International Airport, this 140,000-square-foot
twin-tower office project was clearly failing to live up
to its potential. After being taken back from its owners
in 1992, the property had languished, with occupancy eroding
to 40 percent. Within 18 months of its acquisition by FRI Investors, occupancy had climbed to 92 percent through a combination
of active marketing and professional, entrepreneurial management.
This successful acquisition and management approach laid
the foundation for a later refinancing to fund further acquisitions.
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