Our Approach

After touring the asset and conducting a full analysis of the cash flows and market value, we met with the family to understand their goals and discuss our findings. During the meeting it was clear the family was motivated to sell their asset with the goal of closing before the 2020 presidential election, which was only just a few months away.

Given the tight timeline, our team quickly got to work partnering with the Seller’s management company to compile the books and records for the property. In addition, a photographer and inspector were engaged in order to professionally capture the property and better understand the condition of the building prior to listing. Once all records were compiled, a full marketing package was completed to highlight the significant benefits of the property to appeal across a broad range of buyers to create a competitive landscape.

The Outcome

By creating a defined marketing strategy, including a rooftop calling campaign to neighboring owners, the team was able to find an all cash buyer that could deliver on closing the transaction prior to the 2020 presidential election to meet the Seller’s objectives. The purchase agreement was strategically negotiated to include a short feasibility period with no other contingencies in order to provide certainty to the Seller. In the end, the Lee & Associates | Northwest multifamily team executed on the Seller’s goals by closing the transaction prior to the election in only 38 days from mutual acceptance.