A privately held Chicago-based REIT, Inland came to PDSI and asked us to take ownership of a multi-faceted redevelopment project as the firm had recently acquired a portfolio of hotels, but did not have extensive experience in the hospitality market. The client’s goal was to invest in improvements and then sell properties at a premium. ROI was imperative. However, Inland did not have an internal team who could accomplish that goal.
PDSI became a trusted partner, able to jump in on multiple projects and to think strategically about how to create value for the portfolio as a whole. Equally, our team guided Inland and streamlined the entire development process, identifying smart expenditures that would yield improved hotel performance. We also found ways to tighten the budget on any given project so that Inland had surplus capital to deploy in purchasing more properties.
While Inland did not intend to give us all of their work at that time, we eventually did approximately 80 projects with the firm. The client came to have complete faith in PDSI, giving us a great deal of autonomy and essentially saying, “This is what we need done – go ahead and do it.” Inland valued our commitment, creativity, and straight talk, and it became second nature for us to share ideas frankly and freely. Mutual respect produced mutual benefit.