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Case Studies / Muir
sold
Muir
Sourced Institutional Buyer and Set Benchmark Pricing in Up-and-Coming Neighborhood
- Crafted compelling marketing story, building large buyer pool in an emerging market
- Sourced multiple offers and intensified pricing through multiple rounds of bidding
- Attracted a foreign-based, institutional buyer, closed sale in record timing
Case Study
CHALLENGE:
In early 2022, we faced the challenge of marketing a newly constructed property in an emerging urban neighborhood of Seattle during a period of rapidly rising interest rates. With many developers waiting for peak pricing, we identified early signs of a market downturn and acted swiftly to capitalize on the overheated market.
WHAT WE DID:
We executed an expedited marketing campaign, bringing the property to market immediately upon stabilization and leveraged the property’s future potential. Our broad marketing campaign generated massive buyer interest, enabling us to successfully build a marketplace of buyers around an otherwise unknown property in a truly emerging market.
RESULT:
We attracted a foreign institutional buyer that out-bid multiple other buyers, resulting in a market-setting sales price. We closed the sale on a 50-day timeline, beating out a declining market. This sale showcased our ability to successfully sell future market dynamics and source institutional buyers for local developer clients.
Site Details
"I’ve sold 3 apartment buildings with the Simon Anderson Team, totaling nearly $125M in sales. In each sale they’ve impressed with me with a high degree of expertise, clear and consistent communication, and fantastic results. I know that when I work with them, I am working with professionals that are the best in the business – I highly recommend them.”
- Jim D.
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