Fractured Condominium Division
The SRC Fractured Condominium Projects Division acquires broken
condominium projects in which the developer was unable to finish selling
out their condominium conversion or development units. SRC will typically
operate these broken condominium projects as multifamily apartment
communities for 5-10 years, or until the residential housing market recovers.
If and when the condo market recovers, SRC will sell the remaining units as
condominium homes at a premium or keep the project as a stabilized rental community long term.