Family Center at Taylorsville

Challenge

• Significant shop square to anchor ratio creating leasing challenges.
• Located in a secondary market and thoroughfare within the market.
• Had to find operators and pair with equity to a heavy value add project.
• Create a viable and supportable value add business plan.

Strategy

• Target high probability operators that had a track record of redeveloping the property into a mixed-use development.
• Put together a separate analysis to attract JV Equity and non-recourse debt.
• Create a business plan with the appropriate yields to attract the perfect capital stack.
• Create competition on all levels of the stack.

Results

• Closed the asset off market for $75M all cash.
• Sold the asset for a large institutional investor within a 60-day period.
• No pricing adjustments or timing extensions during escrow.
• Largest transaction for Colliers in 2015.