Development

THE VISION TO REALIZE LONG-TERM VALUE

Rabina has led the development of more than three million square feet of projects, from its first, a retail center and parking garage in Miami Beach, to its latest, a high-rise, mixed-use tower in the heart of mid-town Manhattan, presently in pre-development. Other Rabina developments have included state-of-the-art data center projects, thousands of residential units in New York City and South Florida, and more than two million square feet of industrial distribution.

Rabina has partnered on projects with leading developers including the Related Company of Florida, JD Carlisle Development, Hillwood Development Company, Rose Associates and the Worldwide Group. Rabina’s development pipeline includes an addition to an existing Brooklyn office building that will roughly double its square footage, built-to-suit data center projects, and more than 600 luxury residences.

IDENTIFYING THE REAL OPPORTUNITIES

With deep experience across asset classes cultivated over many years, Rabina underwrites with confidence in markets all over the United States and beyond. Once an acquisition target is identified, Rabina relies on the determination of its leadership and its financial strength to move aggressively to close.

BUILDING VALUE ON OUR PROPERTIES

Rabina’s acquisition targets are often difficult, misunderstood or underperforming assets that require a steady hand and careful management. Whether an asset requires the perfect tenant for existing space, physical improvements, repositioning to meet a particular market demand, or maneuvering through legal and regulatory issues, Rabina has the skill, resources, and patience to roll up its sleeves and execute a long-term strategy to bring assets to their full potential.

CAPITAL, JUDGMENT & AGILITY

Since 1992, Rabina has originated and purchased more than two billion dollars of loans. As experienced owners and appraisers of real estate, Rabina has the ability to underwrite the real value of underlying collateral and execute the appropriate strategy, whether through restructuring, recapitalizing, or using our operational skills to solve problems.

development Case Study

New River Yacht Club

Opportunity

Located directly on the New River in downtown Fort Lauderdale, the New River Yacht Club presented an ideal redevelopment opportunity. With a best-in-class partner, the Related Group of Florida, Rabina purchased the parcel and the adjacent marina in 2004. Rabina saw that zoning would allow a significantly higher density use for the site and that the character of the neighborhood was evolving. This made the development parcel a perfect acquisition for a patient investor.

Results

When construction started in late 2012, it was the first residential project to break ground in Fort Lauderdale in five years. The leasing phase of the 249-unit New River Yacht Club exceeded projections, both in price per square foot and absorption. After opening the leasing office in March 2014, Rabina reached 95% occupancy by December of the same year – six months ahead of schedule. The following summer, Rabina refinanced the stabilized property with Fannie Mae.