| HBS Case Collection
Victor Alexander was intrigued by the packet of papers that lay in front of him. The papers comprised a brochure that Garden State 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;
Buildings and Facilities;
Partners and Partnerships;
Decision Choices and Conditions;
Real Estate Industry;
Segel, Arthur I., John H. Vogel, Jr., and Lisa Strope. "Bonnie Road." Harvard Business School Case 813-186, June 2013.