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Delta Quail Apartments - Stockton, CA

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86 units

For many years, the Delta Quail Apartments had been owned by a holding group that consisted of approximately forty (40), silent owners. Many of these silent owners had never even seen the property. One of these silent owners, admittedly knew very little about the property, approached our team to inquire on the site’s current market value. After our team provided a thorough valuation, this silent owner indicated that he, and many other silent owners, had interest in selling the site but had little control over that decision. Knowing the difficulties in getting a majority of the owners to agree to a sale, we knew we may have only one chance to produce an offer enticing enough to accept. We researched our extensive database of potential contenders and discussed the project/opportunity with a selected few. The winning buyer came in with an aggressive, all-cash, quick close offer. However, even though the offer was outstanding, we still had to convince the majority of the ownership; a group of people that we didn’t have access to. Our offer came in the form of a campaign that consisted of the offer itself, a bio of the buyer, a valuation of the property, a list of recent sale comparables, market data, etc. Even with all of this, we still had to get the managing member (whom we had never met nor spoken to) in our favor and in the favor of selling. After all, he was the only one that had knowledge and access to all the other silent owners. It was a long process, but our team was successful in making both the sellers and the buyers happy.

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