The Team focused on exposing the property to sophisticated buyers who not only had the capacity to purchase the asset, but who could capitalize on the value-add opportunities inherit in the complex.
• Personally contacted their key relationships and used their extensive database to target Class A core location buyers.
• Explained that shortly after closing and with limited effort, rents could be increased and NOI could be pushed to the extent of making an excellent buy into an outstanding acquisition.
• Focused on those value-add buyers who would take an active role in improving amenities, renovating interiors and driving income upward rather than a more passive
The Colliers Las Vegas Multifamily Team executed their strategy and engaged multiple qualified buyers. Their relationship with Security Properties in Seattle helped establish credibility with the owner that Security Properties would do whatever they had to do to close the transaction. The Las Vegas Team sold the asset for $48,200,000 or $162,837 per unit which was 105% of the recommended list price from the team’s broker price opinion.
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