Scottsdale, Arizona-based ""Sand Capital"":http://www.sandcapital.net, a division of ""Sandor Development Company"":http://www.SandorDev.com, recently announced the company's acquisition of more than $100 million in distressed debt and REO properties.
""The economic conditions present in the market for the last two years have created once in a quarter century opportunities for our company,"" said Jay Stein, president
[IMAGE] [COLUMN_BREAK]of Sand Capital. ""By acquiring properties and notes from across the nation during this time, we have managed to stay ahead of the recession and continue to grow our portfolio significantly.""
Sand Capital, which has been acquiring commercial, residential, office, and industrial real estate assets since November 2008, has added 1.2 million square feet to its portfolio.
The goal is to bring these undervalued assets back to life, according to a statement from Sand Capital and Sandor Development, which specializes in property development, property management, increasing occupancy, rehabilitation, and redeveloping real estate assets.
""In nearly all cases, these distressed properties and notes are a product of the current economic climate and to ownership under-management,"" Stein said.
He added, ""By aggressively leasing and rehabilitating these assets, we expect these properties to rebound fully in the near future. Our advantage comes from not just being buyers and sellers, but hands-on operators of real estate properties with a nearly 50-year track record of success.""