41,000 Square Foot Building
173,000 Square Feet of Land
Assumption of Existing Seller Debt
The Seller was a multi-transaction client of ours who in the past had specialized in apartment investing, but purchased this shopping center to test the retail waters. After it was determined they preferred the multi-residential side of the business, Paley Commercial Real Estate was engaged to locate a qualified Buyer who could successfully assume the existing financing. The property was sold, allowing the Seller to do a 1031 Exchange and invest the proceeds into several other apartment holdings just before that market exploded.