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• Case | HBS Case Collection | 2013

  Bonnie Road

  Arthur I Segel, John H. Vogel, Jr. and Lisa Strope

  Victor Alexander was intrigued by the packet of papers that lay in front of him. The papers comprised a brochure that GardenState Bank had put together in an effort to sell the Bonnie Road Distribution Center in Somerset, New Jersey, for $9.7 million. It was April 2013 and the New Jersey real estate market was recovering and the capital markets were in disarray. Alexander had convinced 10 friends to put up $200,000 each in addition to his own $200,000 to acquire one or two troubled properties. Alexander decided to focus on warehouse properties due to their relatively small size, their strong historical performance, and his relevant experience. He wondered whether Bonnie Road would make a good investment.

  Keywords: real estate; Investment; Acquisition; Buildings and Facilities; Property; Partners and Partnerships; Decision Choices and Conditions; Distribution Industry; Real Estate Industry; Texas;

  Citation:

  Segel, Arthur I., John H. Vogel, Jr., and Lisa Strope. "Bonnie Road." Harvard Business School Case 813-186, June 2013.

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• Case | HBS Case Collection | 2013

  Pinckney Street

  William J. Poorvu, Arthur I Segel, John H. Vogel, Jr., Lisa Strope and Erich Dylus

  Although inexperienced in real estate, Edward Alexander hopes in June 2013 that youthful enthusiasm and $240,000 in savings and inheritance will help him enter the real estate business. His experience chronicles the process of finding, evaluating, and acquiring a four-unit brownstone in need of renovation in the Beacon Hill area of Boston. The case also identifies the various players in the process. A rewritten version of an earlier case.

  Keywords: real estate; Acquisition; Investment; Housing; Real Estate Industry; Boston;

  Citation:

  Poorvu, William J., Arthur I Segel, John H. Vogel, Jr., Lisa Strope, and Erich Dylus. "Pinckney Street." Harvard Business School Case 813-182, May 2013.

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• Case | HBS Case Collection | 2013 (Revised from original 2011 version)

  Sino-Ocean Land: Responding to Change

  Nicolas P. Retsinas, Jeffrey Hu and Runjiao Xu

  In 2010, Sino-Ocean Land Holdings Limited was a highly successful, large real estate developer based in Beijing, China. Sino-Ocean Land had three main business segments—property development, property investment/management, and other real estate related businesses. From 2005-2009, the company focused on becoming a leading regional developer with a multiproduct offering. That strategy was successful, riding the wave of spectacular growth in the Chinese real estate sector from 1998-2008, following a loosening of Chinese state real estate regulations. Although Sino-Ocean Land had gone public in 2007, its key shareholders were still state owned enterprises. The state maintained significant influence on the company and the real estate market, in general. The case explores the interactions between the company and the state, examining land acquisition, financing, and corporate governance. Following the global financial crisis of 2008, Sino-Ocean Land must devise a new five year strategic plan. CEO Li Ming must grapple with the changing market dynamics and regulatory environment to decide the best course for the company. Key issues that he must determine are: whether the focus should be local or national; whether to continue with multiproduct offerings, or specialize in one product type; and whether to continue to pursue primarily development, or to shift to property investment and holding.

  Keywords: History; Strategic Planning; Financial Management; Policy; Property; State Ownership; Financial Crisis; Diversification; Globalization; Business Strategy; Banks and Banking; Real Estate Industry; Beijing;

  Citation:

  Retsinas, Nicolas P., Jeffrey Hu, and Runjiao Xu. "Sino-Ocean Land: Responding to Change." Harvard Business School Case 211-107, February 2013. (Revised from original June 2011 version.)

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