Expertise Ensures a Success
 A highly-motivated seller placed Praireview Center up for sale in an effort to close out a co-mingled investment fund. |
Challenge
While many buyers wanted to make offers on the property, several underlying issues stood in the way of a timely and successful transaction. Both the grocer-anchor and a primary retailer recognized significant downturns in sales as their leases came up for renewal and the site itself was aging and in need of renovation. These factors caused the potential buyers to discount their bids to account for the undefined risk.
Strategy
United Properties employed its thorough due-diligence and forecasting techniques to ascertain the true market potential for a grocer-anchored center at this site and also completed a comprehensive site/building review to identify the needs improvement needs and associated costs. We then worked to mitigate the risk of losing either major tenant by establishing a host of viable alternatives through its long-standing grocer relationships. Using this information as its business plan, United Properties convinced a major mainstream lender to provide financing for the purchase of the site.
Results
United Properties purchased the property, allowing the seller to achieve his goals. Through its substantial up-front investment and analytical research process, United Properties easily secured long-term commitments from both the grocer-anchor and the primary retailer and is now marketing the site to additional supporting retailers.
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