Class-A multi-story asset with a physical occupancy of 45 percent at the time of closing. The asset was managed by a third-party REIT and offered ample upside for the new owner.
The institutional asset had eight competitive bids
The sellers received a direct offer from the REIT / management company
The sellers were concerned about the potential conflict of interest of selling directly to their management company
Owners also wanted to maximize the value of their investment and believed that going to market and gauging a full response was the only way to ensure this
Sellers had previously sold through another major brokerage firm and were not impressed with the results or the process, so they reached out to their network and were referred to SkyView
Buyers were concerned about new supply/oversupply in the area
All major San Antonio owners looked at the deal and valued it several million dollars below final sale price
Once the property was on the market and went through the Call for Offers process, the REIT / management company increased their offer by $1.3 million
Ultimately, regional and national private buyers led the pack on pricing
The sellers were absolutely thrilled with the final results based on the maximum value achieved through the SkyView deal process. Our experts were able to put an additional $2,300,000 in the sellers pocket.
100% of our firm’s time, effort, and energy are devoted to you and your goals as a seller. We guarantee that we will generate the highest price and best terms for your property that the market will bear at that moment in time.