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• Case | HBS Case Collection | September 2017 (Revised December 2019)

  Miami Price: Bidding on an Iconic Transit-Oriented Development Site

  Charles F. Wu, Aaron Stolear, Vitali Bourchtein and Sayiddah Fatima McCree

  13th Floor-Adler, a partnership of 13th Floor Investments and Adler Group, was compiling a response to a Miami-Dade County Request for Proposal (RFP). The RFP's prize was the opportunity to develop a 7.5+/- acre parking lot, adjacent to a heavy-rail rapid transit station, into a Transit-Oriented Development (TOD) in Miami. To win, 13th Floor-Adler had to submit a proposal that was the "highest and best use" for the land, catered to the County's demands for workforce housing, provided a market return for investors and compensated the County for the use of the land.
  Throughout its history, Miami has been subject to a number of real estate booms and busts. Intricate expertise of Miami’s demand drivers were necessary in order to succeed. Arnaud Karsenti (MBA 2006), founder and Principal at 13th Floor Investments (13th Fl), with over $1B worth of completed transactions in the South Florida market, had this well of expertise. Furthermore, the partnership with the Adler Group, headed by Michael M. Adler, provided additional credibility for the proposal due to their 50+ years’ experience in Miami.
  At "Link @ Douglas," can Karsenti and his team be "placemakers" creating a true live, work, and play environment, deliver market returns to investors and create a winning proposal that caters to the demands of the Miami-Dade County officials?

  Keywords: land valuation; real estate development; real estate; land markets; land investment; Property; Design; Valuation; Real Estate Industry; Miami;

  Citation:

  Wu, Charles F., Aaron Stolear, Vitali Bourchtein, and Sayiddah Fatima McCree. "Miami Price: Bidding on an Iconic Transit-Oriented Development Site." Harvard Business School Case 218-034, September 2017. (Revised December 2019.)  View Details

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• Case | HBS Case Collection | October 2019

  Toys "R" Us: Come Buy My Toys

  Nori Gerardo Lietz, Erica Segall, Alejandro Botto and Terrence Shu

  Keywords: private equity; retail; finance; Leveraged Buyout; leverage; leveraged buyouts; bankruptcy;

  Citation:

  Lietz, Nori Gerardo, Erica Segall, Alejandro Botto, and Terrence Shu. Toys "R" Us: Come Buy My Toys. Harvard Business School Case 220-023, October 2019.  View Details

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• Supplement | HBS Case Collection | August 2019

  Project Deutschland: Unpeeling the Onion of a Distressed Real Estate Portfolio

  Nori Gerardo Lietz and Ricardo Andrade

  Citation:

  Lietz, Nori Gerardo, and Ricardo Andrade. "Project Deutschland: Unpeeling the Onion of a Distressed Real Estate Portfolio." Harvard Business School PowerPoint Supplement 220-701, August 2019.  View Details

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