Williams Island Club

Williams Island Club

Williams Island is an 82-acre private Club and Condominium development located in Aventura, FL. Renowned for decades as "The Florida Riviera", the project sets on the Intracoastal Waterway with direct access to the Atlantic Ocean.

Issue

Board and Developer had reached an impasse on negotiations of an equity conversion from the developer to the members.

Initiatives

  • Bring credibility to the Board the Developer and the overall turnover process
  • Assist both the Board and developer negotiate the price, terms, and specific deal points
  • Provide a sustainable solutions that worked for all property owners (1,900)
  • Develop a real estate marketing plan designed to restore liquidity to re-sales which had  become stagnant for 2 consecutive years due to uncertainty surrounding the developer controversy
  • Develop and distribute all members communications during the process
  • Design and present "the deal" to the Club membership

Results

  • Over 80% positive member vote to acquire the Club facilities
  • Secured membership fees and loans which totaled $14.4 million
  • Top-shelf management team in place on Day 1
  • Detailed operating budget in place for the real estate and Club 
  • Board and Committees roles and responsibilities defined
  • 3-Year strategic plan in place on Day 1