Depth – Diversity – Flexibility – Our strong industry ties and deep development experience provide the tools for success. Today, the real estate world demands that developers have a high level of sophistication and strong understanding of market conditions, along with the finance and entitlement issues involved in the real estate projects they are developing. Whether serving as a full-service principal, partner, asset manager or broker, Lerner Real Estate Advisors leverages its staff’s more than 100 years of combined development experience with its proficiency in every aspect of real estate, from vision to execution, handling all aspects of horizontal and vertical development for residential, commercial and mixed-use real estate projects.
Lerner Real Estate Advisors (LREA) is an advisory practice that is primarily focused on assisting institutional lenders and landowners evaluate, manage and ultimately dispose of distressed real estate. In addition to representing one of the largest landowners in Florida, LREA provides advisory, restructuring and asset management services to the High Yield Municipal Bond Market that has financed the infrastructure improvement of large master communities throughout the southeast. Since January, 2009 LREA has provided advisory services to over 40 communities representing municipal debt of approximately $1 billion, over 38,000 residential lots and nearly 8 million square feet of commercial and office space.
Leveraging over 100 years of combined real estate experience, the staff of Lerner Real Estate Advisors LREA has developed an exceptional knowledge of the real estate industry. Our team of senior professionals brings our clients an advisory practice with deep hands-on experience in finance, residential development, commercial development, planning, entitlements, sales, leasing and operations.
New assignments typically involve a detailed assessment of the project background, financing structure, market conditions, existing and proposed entitlements, cost to complete, outstanding obligations, alternative development scenarios, financial pro formas, and acquisition and disposition strategies. In most cases after the initial assessment, LREA is engaged to either restructure the debt with the existing landowner or provide asset management services.
LREA’s restructuring services combine current market realities with an assessment of future market potential, allowing a win-win situation for the landowner and the institutional lender. Since 2010, LREA has restructured five communities representing aggregate debt of over $80 million, and approximately 4,400 residential lots.
In those situations where restructuring is not an option, LREA provides asset management services, managing the day-to-day operations of the community, the entitlement process, marketing and sales, community governance, and development. LREA currently manages 13 communities encompassing over 10,000 lots and 200,000 square feet of commercial development.
Lerner Real Estate Advisors has a broad skill set in everything from acquisition through execution, for both single-use and mixed-use projects. With an interest and knowledge in the many types of development options, we can evaluate a multitude of alternative uses for raw land, entitled land or partially developed communities.
With a masters degree in Urban and Regional Planning from Florida State University and more than 25 years of development experience, Harry Lerner, President of Lerner Real Estate Advisors, and his team are highly skilled and have extensive experience in the often difficult task of obtaining land use and development approvals.
Understanding the planning process, knowing the municipalities and regulatory agencies involved in each approval process, and having long-term, stable relationships across Florida and the Southeast, LREA ensures that entitlements and development approvals maximize the economic return of every project.
The approval process has historically focused on land use approvals, such as comprehensive plan and zoning approvals. It has been a long-standing belief in the development community that when the political side of the approval process has been resolved, administrative approvals were fairly automatic. But over the years, the approval landscape has changed dramatically, creating more un-predictability in the political process and requiring more sophistication in working in the administrative arena.
Good results require exceptional partnerships with communities and regulatory bodies to ensure a compatibility of objectives for all parties involved. LREA’s expertise includes: comprehensive plan amendments, zoning amendments, concurrency approvals, Development of Regional Impacts (DRIs), environmental permitting for wetlands, uplands and wildlife, engineering and site plan approvals and the acceptance of improvements.
LREA has strong professional affiliations and relationships related to all matters of engineering, permitting and regulatory approvals. We pride ourselves on the respect we have earned from colleagues throughout the industry, and believe that by treating everyone professionally, we can obtain maximum output from our consultants. Our attention to detail, problem solving and follow-up provides superior results for our investors and clients.
Lerner Real Estate Advisors brings its extensive experience to the process of bidding, negotiating and managing development and construction contracts, both large and small. Our experience provides an advantage by knowing what works, who to work with and how to bring a top-quality job to completion on budget and in a timely manner. LREA can identify areas of likely cost overruns and then carefully monitor and manage the expenditures.
Lerner Real Estate Advisors expertly manages sales and leasing, including: selling lots and land to builders and developers, selling developed land to large retail users, leasing to national and local retailers in community shopping centers, and marketing master-planned communities.
Our marketing and sales commitment is reflected in our constant communication with builders, investors, professionals and other developers through relationships and participation in professional organizations such as the Urban Land Institute, International Council of Shopping Centers, National Association of Home Builders and the Association of Florida Community Developers.
A natural extension of development and leasing is our property management expertise. We pride ourselves in maintaining beautiful, well-maintained projects for the benefit of our shopping center tenants and our communities’ residents. Lerner Real Estate Advisors is committed to the implementation and management of budgets that work, while working with qualified vendors to provide a long-term, sustained investment for the benefit of all involved.