Case Study

Amelia Island Resort

Segar Consulting worked with its network of partners to present a definitive estimate of the value of the
property to the municipalities in seeking a reduction in the assessed property value for their client.
Originally assessed at $111,000,000± and the owner was paying approximately $1.7M± in annual
property taxes. Upon completion, the team was able to successfully achieve a reduced assessed value of
$80,000,000±, resulting in a substantial reduction in annual property taxes of approximately $500,000
per year.

Mixed-use resort lodging and golf development built in stages from 1970 – 2003. 
Property featured resort lodging and golf development comprising an assemblage of lodging units,
golf courses, meeting facilities, tennis, spa, retail and restaurant facilities, and commercial buildings,
collectively operated as Amelia Island Plantation
Located along the easterly and westerly sides of State Road A1A in Amelia Island, Nassau County, Florida.
The improvements provided 642,011± square feet of gross building area and were partitioned to provide 249 lodging units, four golf courses, multiple food and beverage outlets, 38,000± square foot conference center, and supporting retail, tennis, spa, and recreational amenities.
The subject site provides approximately 821 acres of gross land area.

Four Seasons New Orleans Hotel and Private Residences

Segar Consulting worked with the sponsors and investors of the project (Shepherd Kaplan Krochuk
Carpenter & Company etc.) to formulate the capital stack for the project. The project involved approximately a $290MM construction loan with about $56MM in equity from the sponsors, $46MM from SKK and an additional tranche of preferred equity.

Redevelopment of historic iconic New Orleans building, formerly the city’s World Trade Center Building.
Four Seasons New Orleans Hotel and Private Residences slated to be opened in 2021 as the city’s
only 5-star hotel. The total project renovation cost is approximately $530MM featuring 92 residences, with 341 rooms and full amenities, pool, ballrooms, rooftop observation deck, and more.

206-220 Fulton Ave &
13-31 N. Franklin Street, Hempstead, NY

2 separate structures of various retail (91,217 SF) apx.
Built in 1939 and 1948
Original Balance $16.25M
Original Interest Rate 5.98%
Discounted Payoff $10.0M
New Debt Interest Rate 5.15%
Negotiations began with the loan on watch list
Coordinated effort among owner, attorney, property manager, appraiser, and workout specialist
Did not require owner to file for bankruptcy
Pre-negotiation contact established with special server
Detailed analysis of property net present value (NPV)
Fundamental market analysis
Analysis of competitive supply and subject property positioning
Successful negotiation and discounted payoff

Islandia Shopping Center
1750 Veterans Memorial Hwy, Islandia, NY

Regional shopping center (376,774 SF) apx
Built in 1991
Original Balance $73.6M
Original Interest Rate 5.7%
A/B Note Split
New A Note of 63.5M
New B “hope” note of 10.1M
New Interest Rate 4.25%
Negotiations began while property was on watch list
Coordinated effort among owner, attorney, property manager, appraiser,
and workout specialist
Did not require owner to file bankruptcy
Pre-negotiation contract established with special servicer
Detailed analysis of property net present value (NPV)
Fundamental market analysis
Successful negotiation and A/B note bifurcation

Office Building Compass Bank
201 3rd St NW, Albuquerque, NM

18 Story office building (229,899 SF, apx)
Built in 1966 (Reno. 2007)
Original Balance $22.4M
Original Interest Rate 6.3%
Discounted Payoff $13.8M
New Debt Interest Rate 6.5%
Negotiations began while property on watch list
Coordinated effort among owner, attorney, property manager, appraiser, and workout specialist
Did not require owner to file for bankruptcy
Pre-negotiation contact established with special server
Detailed analysis of property net present value (NPV)
Fundamental market analysis
Analysis of competitive supply and subject property positioning
Successful negotiation and discounted payoff