We know you have choices. At Borror Properties, commercial real estate is about developing a strategy to deliver the results you expect.
Jeff Baur’s broad base of experience in commercial real estate has been key to his success at Borror Properties. Here is an example of how Jeff used his expertise to successfully negotiate, manage and close a deal.
Subject Property: 21 Two-Bedroom Townhome Apartment Units
Location: Merion Village, Columbus OH
The Challenge
This three building apartment complex consisted of 21 two-bedroom townhome units. There was deferred maintenance on the building, most notably was the need for new roofs. Borror Properties managed the apartment complex and was able to “stabilize” the current vacancy, but had little resources from the creditors to renovate and rent units. The property was in receivership with three different banks. Each bank had a different opinion of the actual value of the property in order to sell.
The banks agreed to combine their cases to maximize the value of the property.
After many we facilitated multiple negotiations, we obtained several offers and were able to secure a large, well known owner to pay the highest CASH price possible, in lieu of obtaining a new loan on the property which would have proven to be very difficult.
Jeff’s tenacity to help consider a unique financing situation for this client helped to close the transaction. Click here to see our current multi-family commercial real estate listings.