HOME » ABOUT » SUCCESS STORIES » FAMILY CENTER AT TAYLORSVILLE
Family Center at Taylorsville
Salt Lake City, UT
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.
Key Colliers Services
- Colliers Institutional Services
- Colliers Private Capital Services
- Colliers Single Tenant & Portfolio Disposition Services
- Colliers Retail Leasing Services
- Colliers Property Management Services
- Colliers Debt & Equity Services
- Colliers Valuation & Appraisal Services
- Colliers Marketing & Client Services
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