This property was being sold by a bank acting as a fiduciary for a trust who needed the property sold. The property had a payday loan business as a tenant and the tenant’s business model was about to undergo state wide re-regulation. With these challenges, the bank sought out the real estate investments knowledge of our team to sell the asset for them.
Our team began by fully researching the operator, and found that the tenant had locations in twelve states. They also had a plan on how they could change their business model once the regulation was changed. Using this knowledge, our team began advertising to an extensive network of investors and marketing the property through multiple outlets. We received multiple offers, and ultimately an investor who owned many other buildings with payday loan businesses in them stepped up.
Since our team properly researched the property and business, we were able to create an offering memorandum that addressed any concerns that a potential buyer may have had. In the end of the sale, our client was happy with the price they received and our buyer was so impressed with our team’s organization that they became a repeat client.
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