Success Story: Canyon Park

  • Jul 12, 2018
  • Marketplace Success Stories

SALE PRICE: $60,100,000
RealINSIGHT Marketplace’s sale of this non-performing commercial loan secured by a 14-building office park in Orem, UT proves that our Custom Sale Events are advantageous for loan sales too. This offering faced multiple challenges – significant near term tenant rollover in the park that presented cash flow risk, local development increasing competitive office supply, and a sizable ‘destination’ business park with limited freeway access. RealINSIGHT Marketplace and a national investment sales team targeted both institutional investment groups as well as regional and local investor/operators early in the marketing process and supplemented these efforts with input from experienced on the ground market participants. As the marketing and due diligence process unfolded and the value-add opportunity through lease-up and development of excess land in the offering became more fully apparent, investor interest increased through the indicative offer round and peaked in the final bid round, resulting in maximum pricing for the seller and an efficient and successful closing.