Case Studies / Lascelle
1900s vintage property sets record price per unit metric
- Record setting price per unit sale
- Buyer sourced before coming to market
The Seller had been entertaining the possibility of taking the property to market but was worried that the market was beginning to slow and wouldn’t be able to fetch the aggressive pricing metrics required. Additionally, with low inventory available, the Seller was concerned they wouldn’t be able to find another property to 1031 exchange into.
What we did
With deep knowledge of active market players in Eastern Washington, we contacted the owner of a neighboring property who was also seeking investment properties in the market. The opportunity to own neighboring properties outweighed the Seller’s aggressive pricing expectations and put in an offer.
By identifying a Buyer with significant interest before taking the property to market we achieved a record setting price per unit. The Seller identified an exchange property and was under contract before closing. With our proven track record in Eastern Washington, the Seller trusted we could not only sell their building at an aggressive price but also help find an exchange property.