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Steven Beauchamp, President | 1800 SE 10th Ave., Ste. 210, Ft. Laud., FL 33316 | tel: 954-522-4492
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Consulting Services
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Mangrove Advisory Group serves as a counselor to its clients who seek valuation and evaluation services. Consulting services include market value appraisals, marketability studies, feasibility analyses, due diligence, expert witness testimony and litigation support.
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Steven Beauchamp managed the real estate consulting, valuation and underwriting due diligence process to aid Shearson Lehman Hutton Inc.'s effort to form a partnership with Triangle Industries and the Michael Swerdlow Companies to acquire Hollywood, Inc. |
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New York Times
By Kurt Eichenwald
"Shearson Lehman Hutton Inc., Triangle Industries and the Michael Swerdlow Companies announced yesterday that they had entered a joint venture to buy the assets of one of South Florida's largest developers.
Through the deal with the developer, Hollywood Inc., the partnership will own 3,300 acres of land that can be developed and two million square feet of retail, industrial and office space. The partnership will manage and develop these assets.
Triangle Industries is the nation's largest manufatcturerer of containers. In 1985, Triangle took over the American Can Company. Michael Swerdlow Companies is a real estate management and development organization with properties in New York, Maryland, Virginia and Connecticut. (cont.)
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The developed portion of Hollywood Inc., assets includes 67 properties. Among these assets are several retail malls, office complexes and industrial parks. They are in Broward and Palm Beach Counties, Tampa, Orlando and other areas of Florida.
A 278-acre tract next to the Fort Lauderdale-Hollywood International Airport is included in the deal. Shearson said that the land would be developed as a business park. Other tracts that could be developed include 1,800 acres in Orlando, which are expected to be developed into a golf communtiy.
300 acres in Broward County and 660 acres in Pinellas County that is being developed for industrial and office use. Hollywood Inc. was founded in 1930 by Samuel Horvitz.
The company, with headquarters in Hollywood, Florida, is a privately held concern controlled by the trustees of the Horvitz family estate. Among the Florida communtiies developed by the company are Hollywood Hill, Emerald Hills and Rock Creek.
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