"We have been specifically targeting all-cash buyers as a resultof the current mortgage market," says Squires, noting that this wasin fact an all-cash deal. "The new owner will apply for financingonly after completion of the sale. The trend allows us to expeditecompleted transactions without any major issues."
This particular offers separate utilities and under-marketrents, according to Squires. "The new owner will continue to investin improvements benefiting the tenants and adding future value tothe income-producing property."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
