COMMERCIAL REAL ESTATE
Distressed Asset Disposition
Services Provided
Seller Representation | Consultation in Commercial Foreclosure and Loan Workout
Statistics
± 30,185 SF & ± 2.497 AC
(6) Buildings in Total
(6) Buildings in Total
Client
Roland Retirement Club
Client
Case Study
6038 W. 25th St.
Indianapolis, IN 46224
Background
Mitch was engaged to sell a senior living community that had been vacated in it’s entirety, fallen in to disrepair, and been involved in active foreclosure proceedings. Roland Retirement Club, Inc. (“Roland”) and their Attorney engaged Mitch to liquidate a multi-family facility that had previously been operated as a senior living community. Once the business closed, the facility had quickly become dilapidated, vandalized, and was a source of worry for the Town of Speedway. Mitch was charged with finding a capable and willing party to purchase the property for rehabilitation or redevelopment purposes in a timeframe that was agreeable to the Seller and their Attorney as well as the Lender foreclosing on the loan and their Attorney.
Strategy
After conducting dozens of on-site inspections/previews with interested parties, (8) offers to purchase were procured over an 83-day span. Once a contract was accepted by the Seller, Mitch worked closely with them, their Attorneys, the Purchaser and their Attorney, the local municipality, as well as the Attorney for the first-position lienholder to ensure a smooth closing and transfer of ownership. At closing, all claims to the property were satisfied in full and any pending suits were dismissed. The subject property was purchased by one of the area’s largest multi-family developers and they intend to rehabilitate the site as a multi-family complex.
Results
Julie from Roland Retirement Club shared her testimonial about the experience working with Bradley Company, stating:
“[We were] incredibly pleased to see Mitch come on board and take [care of] our property. He was the one that finally showed the initiative to move the project along. Mitch was consistently professional. He has expert knowledge and experience as well as sound advice. He was enthusiastic about marketing and finding a buyer–he was honest and well-presented at all times. His commitment did not go unnoticed.”– Julie R. President, Roland Retirement Club, Inc.
STRATEGY
RESULTS
Julie from Roland Retirement Club shared her testimonial about the experience working with Bradley Company, stating:
“[We were] incredibly pleased to see Mitch come on board and take [care of] our property. He was the one that finally showed the initiative to move the project along. Mitch was consistently professional. He has expert knowledge and experience as well as sound advice. He was enthusiastic about marketing and finding a buyer--he was honest and well-presented at all times. His commitment did not go unnoticed.”- Julie R. President, Roland Retirement Club, Inc.
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