411 First Avenue South • Suite 610 • Seattle, WA 98104 • 206.734.4100 • www.orioncp.com RION Commer Cial P artners ll C Case Study: Monterey Townhouse Apartments Disposition Asset Management, Development Planning, and Disposition as Apartment with Condo Map Entitlement Assignment Grew Net Operating Income of an aging 90-unit apartment complex in the small, affluent city of Monterey, CA, with the long- term goal of attaining the maximum possible disposition yield. Over the course of 5 years, ORION Commercial Partners acted as the development advisor, developing plans to renovate a 1971 workforce housing apartment complex into a new condominium complex with a renovation budget exceeding $15 million. ORION’s strategy on behalf of the client was to tap a majority of the en

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