Assignment
Pacific Real Estate Partners’ Investment Team was selected by Prudential Real Estate Investors to sell this Class A office 144,399 SF building located in Bothell, Washington. This “best of class” building featured quality interior finishes and sweeping territorial views and was 100% leased at time of sale.
Objective
Timed to match the requirements of the Seller’s 1031 exchange, the goal was to optimize pricing and minimize any timing issues. A buyer with a proven track record was essential.
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Challenges
In addition to the timing window, the property also had a loan that had to be assumed.
Results
The loan assumption limited the buyer pool but the Pacific Real Estate Partners’ Investment Team still managed a very competitive bid process. The selected buyer performed as promised and closing occurred within the time limit. We met the challenges without enduring a negative impact on the pricing.
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