The Opportunity

We acquired Smithville Square at under 50% occupancy, in a market others overlooked. The asset had strong bones, but was outdated, poorly marketed, and under-managed.

What We Did

The Opportunity

We acquired Broadacres as a fragmented, aging office campus with roughly 72% occupancy and no unifying identity. The asset was under-leased, under-maintained, and undervalued.

What We Did

The Opportunity

MCC Blue was acquired as a large, institutional-quality office asset in need of direction. The site had strong fundamentals but was dated, vacant, and lacked a marketable brand or tenant energy.

What We Did

The Opportunity

Heron Lakes was acquired as a stable, underperforming multifamily community. With rents below market and capital needs throughout, we saw immediate upside with smart improvements.

What We Did

The Opportunity

We acquired raw land in a high-growth corridor with an original approval for 42,000 SF of Retail as well as 20,000 SF of office. With market knowledge and political relationships, we saw an opportunity to grow and outperform.

What We Did

The Opportunity

Henson Creek was acquired during a period of bridge-finance flexibility, but operated with low collections and deferred management. A true operational challenge.

What We Did

The Opportunity

Through longstanding personal relationships, P3 obtained an exclusive look to acquire this deal pre-entitlement. The 427-key hotel features spectacular views of the NYC skyline and a best-in-class location close to Manhattan.

We are acquiring the Property at a steep discount at $32M. The Seller is losing all equity and coming out of pocket to cover necessary payables. The previous lender is taking a significant haircut on a nearly $70M loan balance.

Value Creation Levers

The Opportunity

P3, along with partner Seaview Capital, is acquiring The Pennington — a newly redeveloped former hospital campus. The property includes 147 luxury residential units completed in 2022-2023, and two commercial suites totaling over 23,000 SF. The vacant South Tower offers a rare opportunity to unlock 40-50 additional units.

Value Creation Plan

The Opportunity

Riverbend sits directly on the waterfront adjacent to the NY Waterway ferry terminal, making access the defining asset. Residents enjoy a direct commute to Midtown Manhattan in minutes — a lifestyle comparable to luxury waterfront living at a fraction of the cost. P3 is executing a comprehensive value-add strategy: modernizing all 301 units, maximizing an underutilized parking deck, and acquiring a 20,000 SF waterfront clubhouse that presents a unique amenity opportunity unmatched in the submarket.

Execution Strategy

Overview

The Grand is a ~544,000 square foot Class A office campus across two buildings at 300 Interpace Parkway and One Upper Pond Road in Parsippany, NJ. The property sits on 30.8 acres of meticulously maintained landscaping, less than one mile from the I-287/I-80 interchange. Capital improvements include a tenant lounge dubbed "GRAND Central" with gaming areas, café, and collaborative workspaces.

Overview

Somerset Financial Center (SFC) is a ~233,000 square foot institutional-quality office building at 1405-1425 Route 206 in Bedminster Township, Somerset County, NJ. P3 Properties acquired the asset from Related Companies for $42M. Located just north of the I-78/I-287 intersection, the property is now 100% leased to AT&T, which relocated from its iconic 197-acre campus to SFC after Mallinckrodt Pharmaceuticals vacated following its 2020 Chapter 11 filing.