Case Study

Rainbow Mini Storage

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Seller Profile

Private family owned business. Father was the original developer and second generation was operating the facility to benefit siblings and mother
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Buyer Profile

Large private equity backed national owner
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Property Profile

Non-climate units built in 1985

The Story

  • Number of bids: 12
  • Management company was attempting to buy the property.
  • Seller had a fiduciary obligation to get highest price and best terms for family trust and decided to engage SkyView to run our process.
  • SkyView created a performance based fee structure that aligned with the goals of the family.
  • During the call for offers process, the management company ultimately came in several hundred thousand dollars below the market.
  • During the highly competitive best and final stage, the buyer that was ultimately chosen put up a $150,000 non-refundable earnest money deposit day one with no contingencies to ensure they were awarded the deal.

Value Creation

The family netted an additional $400,000 above the original direct offer and felt secure that they upheld their father’s legacy.

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