J.D. Block Services, Inc. - Innovative Commercial Real Estate Solutions

J. D. Block Services, Inc. is a full service real estate company with over 15 years of expertise in the real estate field. We have expertise in real estate brokerage, mortgage brokerage, real estate management and asset management. Over this period we have represented clients, including institutional clients, banks, insurance companies, REITs, and real estate developers and other clients in many different facets of our industry.

Some of the services we have provided our clients:

Sale and marketing of all types of income properties, land and other real estate projects.

Acquisition services, including financial analysis, market studies and property/portfolio review, and value analysis through finial bid; site selection and acquisition for bank branches.

Management of the rezoning and site planning process for several developers and site purchasers from apartments, self storage, office and industrial developments, and PUD developments.

We have a strong expertise in managing property transitions, workouts and portfolio liquidations for individuals, institutional and corporate clients, as both consultants and as partners. This experience ranges from individual properties, to portfolios and in cases taken control of an entire company for re-positioning and/or disposition and liquidation. As part of those efforts we often provide market studies, property evaluations, operational reviews and strategic planning for clients including both property and/or asset management of the property, portfolio or company.

We also have handled CMBS underwriting on commercial loans for lenders and special servicers for new and loan assumptions, and managed receivable portfolios.

Some examples of the project/asset management assignments:

Normandy/Springs Subdivisions - restart development operations after shut down due to developer financial issues. Included meeting with subcontractors arranging payment schedules, investor funding and build out.

Somerset - Subdivision workout.

Atlantic Gulf Communities Corp. - Assume direction and operational responsibility of public company, determine business strategy, developed operations plan and managed operations and final liquidation:

o Includes receivables portfolio
o Large amount of real estate (evaluate, inventory and market)
o Two PUDs
o Resolve employee, pension, other issues
o Chapter 11 and Chapter 7 filings

Apartments - Retained to manage the turnaround of several projects with upgrading tenants, raising rental rates, established routines for management, and reduced operating expenses to maximize value.

Miller Office - Foreclose, take over through bankruptcy, renovate, re-lease tenant spaces and market for sale.

Atlantis Plaza - Shopping center in disrepair and with declining tenants; renovate and re-lease for a financial institution client.

Naples land - replat and securing of future zoning of vacant condominium property in Naples.

Isla del Sol (Golf Course PUD with 2,000+ units) - solve environmental land problems, redirect development plan, restart project development for those projects to be developed, solve golf membership problems, and then sell properties to be liquidated.

Three Lakes - rezone, plan development and plat vacant land (involved litigation with City).

Also, redirect and complete development of Fountainbleu Park, including townhouses, condominiums, and apartments, and lastly solve numerous issues with remaining vacant land for sale and homeowner litigation, including severe construction problems of Eastpointe Towers.

Developed strategy for purchase of land for apartments in Atlanta suburb, and worked with the City to rezone and plat residential property for a 280-unit apartment project. Developed site plan and unit design and implement site development.

Developed strategy for purchase of parcel on the river in Atlanta, and increased zoning and density by 300%. Approval required agreement of numerous environmental groups, homeowner associations, several city and county planning and zoning departments and the County commission. Planned multi-phase office park with phase one and two designed, built and leased. Project won several design and planning awards.

Replat, plan and begin development of large office park near Washington, D.C. Included master plan of site, replat to 1.5MM square feet, movement of a state highway prior to development, full site design and site development, project development and leasing of the first phase.

GECC 1977 - 1981

Responsible for South Florida workout portfolio. Included several small income properties (apartments and office properties) with primary emphasis on buildout of remaining vacant residential land. Majority of investment and activity was centered on large condominium projects. Two are highlighted below:

Park Place - A 1,056-unit condominium project. This property had only a 168-unit building completed when it became my responsibility. Responsible for all aspects of ownership including development, marketing and close-out of the development effort through project sellout. Restructured the ownership, and took full responsibility for the project, redesigned the site plan and buildings, and built out the remainder of the project, and sold out the units. Close-out occurred in January 1981. This was one of the top selling condominiums in Broward County during the entire development.

Yacht & Racquet Club of Boca Raton - This project had one building built as well as a small garage and tennis facility, and the marina/harbor partially completed. Responsible for restarting the project and all aspects of development and marketing until sellout. Redesigned the site plan and marketing effort. Restarted the project, and built the remaining 5 buildings, and townhouses increasing prices by 200% and winning numerous awards for the development efforts, as well as being a top selling project.

Continental Mortgage Investors 1974 - 1977

This involved the completion of various condominium and income producing projects throughout the country. Main focus was the large condominium portfolio in Florida. Majority of the projects were high rise buildings. Set up marketing office in Caracas, Venezuela, to market and sell the units in South America.

Manager of Asset Disposition, Miami, Florida: Oversaw the $900 million non-performing asset portfolio resolution for this $32 billion bank holding company. Large-scale, complex assets were handled directly by this unit (development of $100 million PUD, disposition of the Biltmore Hotel, etc.). Responsible for coordination of all real estate disposition and special assets activities including problem asset policy creation and implementation for the 32 affiliate banks.

Trafalgar Developers of Florida, Boca Raton/Miami, Florida (1987-1989): Responsible for the development activities and liquidation of this $400 million real estate development corporation, a wholly owned subsidiary of General Electric. Asset portfolio included several PUD's, an income property portfolio, and a residential mortgage subsidiary. Oversaw staff of 250. This liquidation had been planned by GE to be accomplished in 5 years but a majority of the liquidation was completed ahead of schedule within 2 years.

Manager of Marketing (Business Development and Production of GEREE) Atlanta, GA. (1983 to 1987): Oversaw the Joint Venture Program (4 field offices) including product development, production, and marketing. Products consisted of equity based investments, syndications, joint ventures, and participations among other real estate related activities. Managed all phases of development process including purchase, design, construction, leasing, and sale of non-venture property throughout the United States. Directly responsible for production in this billion dollar portfolio. Restructured the GE's joint venture program staffing, and all facets of the field offices.

Region Manager Dallas, Tx (1981-1983): Started, fully staffed and developed Regional field office responsible for creating $120 million of new business on income producing property in the Western United States. Established a major market presence in the most competitive real estate market at the time. Exceeded the expected business goals (IRR of 20%), established relationships with major U.S. developers, and guided the Equity Program to reach beyond the borders of initial entry. Success of the venture led to the creation of 4 additional field offices under my supervision.

Investment Manager, Miami, Fl. (1977-1981): Responsible for management of all activities within three large condominium developments (in excess of $175 million in sales) in which GE was the construction lender and majority owner. Designed a total ownership/debt restructure leading to each project's Phase I completion. Directed the properties through design, construction, and marketing of the remaining phases. The projects went from a very marginal sales position to one of the top ten selling condominiums in their respective areas for the entire sellout period.

Asset Manager: Managed the restructure, litigation, property management, and disposition of assets with an aggregate balance in excess of $250 million.

Assistant Vice-President: Produced and underwrote $350 million of commercial real estate loans in the Southeast and Midwest Regional Offices.