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Montgomery
County, TX & Orlando, FL – March 2021 / Newsmaker Alert / Lemonjuice
Capital and Solutions announces the sale of Inverness Condominium property,
a former timeshare property, repositioned as a multi-family residential
community in Conroe, Montgomery County, Texas. When Lemonjuice was introduced
to the Board of Directors in the summer of 2018, the 44-unit property was
experiencing a significant rate of ownership abandonment by many of its
2,000 co-owners and lacked the funds needed to maintain the property. After
extensive consultation with the board, communication with the remaining
Inverness owners, evaluation of the facility and local market environment,
Lemonjuice was asked to acquire the property as is from all of the remaining
owners who wanted to sell.
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Over
the next two years, Lemonjuice established onsite residential rental operations,
thus meeting the demand in the local community. In addition, Lemonjuice
invested more than half a million dollars in necessary repairs to the property
and undertook extensive work to clean up the title.
The
property sale occurred by a virtual auction conducted by Mark Thomas Auctioneers,
Inc. on September 29, and the cash purchase closed on November 17. The
proceeds will be distributed to the remaining owners, creditors, and Lemonjuice.
Alexander
Krakovsky, CEO of Lemonjuice Capital said, “This property is one more
in a series of previously distressed properties that we repositioned for
productive use for the owners and the community. Creating enhanced value
is always a hands-on team effort from various departments and individuals,
including our accounting, IT, and skip-trace research departments. Project
leaders Melanie Coffin and Jeff Ingram did an excellent job ensuring a
successful outcome by overcoming multiple obstacles in cleaning up title.
The auctioneer, Mark Thomas, organized the sale process with skill and
efficiency.”
About
Lemonjuice Capital and Solutions
Lemonjuice
Capital and Solutions (www.LemonjuiceSolutions.com)
reimagines resort properties by leveraging our decades of timeshare experience
with real estate expertise, and investment capital to serve the best interests
of owners and boards. We identify new pathways to revitalize and reinvigorate
properties to produce a more financially sound footing. Learn how to unlock
the hidden value in your timeshare today by calling Jan at 863-602-8804
or email her at Jan.Barrow@Lemonjuice.biz.
By
investing capital and company resources in projects, rather than simply
being a paid service-provider, Lemonjuice aligns its interests and outcomes
with the property’s owners, managers, investors, and stakeholders. Lemonjuice
has now completed successful workouts for properties in Massachusetts,
Maryland, North Carolina, and Texas, and has ongoing projects throughout
United States.
For
more information, contact Solutions@Lemonjuice.biz.
Media
Contact:
Sharon
Wilson
The
TRADES Press
310-923-1269 |