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ICI Paints

Industrial | Carrollton, TX | ????

TRANSACTION DETAILS

months on the market

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OFFERS

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TIME ON MARKET

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LOIs

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SOLD

THE PROPERTY

260,000 square foot sale lease back of industrial facility of questionable environmental past and future due to its tenant’s use.

THE PROPERTY

Disposition, Sale Lease Back Structuring, Financing

TRANSACTION DETAILS

Discussions were held with the tenant/ownership prior to marketing the property to cover the regional market and the impact of appraisal/financing on the transaction, thereby allowing the tenant to have a thorough  understanding of the process prior to marketing.  Environmental concerns were addressed prior to marketing, with the team and tenant/ownership having a thorough understanding of the environmental implications on insurance, lending, and buyer cross sections.  Due to its size and characteristics, the property was marketed nationally, attracting buyers from both coasts seeking passive returns and good credit.  Seven bids were received within two weeks of marketing, and the asset closed escrow within sixty days from execution of LOI.

DEAL STORY 7: Pelham & Wellesley

Multifamily | Los Angeles, CA | 2017

SUMMARY

After the sudden and unexpected passing of their father, two brothers immediately started receiving unsolicited offers, and calls from local apartment brokers active in the markets surrounding their family’s properties. They were surprised and even amazed at the values being proposed as they were much higher than anything they or their father had ever thought the properties were worth. Once they had a conversation going and had submitted the offers, the various local brokers attempted to gain control of the process through a false sense of urgency, and with little regard for their personal situation.   

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