Case Study

Pak It In

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Seller Profile

Private, family owned and operated.
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Buyer Profile

National owner/operator
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Property Profile

2 property portfolio built in 1988 and expanded in 2001. Climate and non-climate and drive-up units

The Story

  • Number of bids: 12
  • Seller’s CMBS loan was maturing and was preparing for retirement. They did not want the day-to-day operational responsibility and oversight.
  • After interviewing multiple brokers, the sellers chose to hire SkyView because of our 252-point process.
  • SkyView created a fee structure that aligned our interests with our sellers and incentivised our team to achieve maximum value.
  • The ultimate buyer that was awarded the deal had a presence in the Atlanta market and was looking to actively grow their footprint.
  • During due diligence, the buyer discovered some unexpected items and requested a $500,000 price reduction.
  • Due to the competitive nature of the deal, there were a significant number of backup buyers. SkyView was able to negotiate with the buyer and ultimately agree on a $50,000 price reduction.

Value Creation

The seller was able to comfortably retire from the storage business and travel the world with his wife.

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