Result

Ultimately, the team identified the perfect buyer profile. A sophisticated syndicator familiar with operating in highly regulated, out of state markets who was winding down their partnership to focus on building a personal portfolio. The buyer had longer term hold requirements and was motivated to perform on exchange deadlines. Through the team's extensive documentation and communication, the Multifamily Team was able to get the buyer comfortable with asset and the substantial future upside, resulting in the buyer writing a non-contingent offer, sight unseen. After a very smooth escrow period, during the final hours leading up to closing, complications arose over the buyer’s insurance coverage. Due to confusion on electrical standards, closing delays were imminent and tensions rose. Once again, the team nimbly pivoted to approach the issue from multiple angles, working both with prior insurance providers, the buyer’s property management company, and even looped in a respected electrician to find a solution. Their multifaceted approached provided the seasoned buyer with enough information to make an educated decision that was acceptable to all parties and allowed the deal to close on-time and without delay.