How $22M Deal by Cushman & Wakefield Brokers Successfully Closed In SC
Recently a new deal of $22M was closed in SC by Cushman & Wakefield Brokers, where a property with 352 units in 22 buildings was sold to a land trust that is led by Yaniv Nakash. This is the same Nakash Family land trust that closed over 1509 units in the Carolina in the last 90 days. The asset from current deal is located at the corridor of I-85.
How was it done?
The key people in this deal were from Cushman & Wakefield, who arranged this sale of the Southern Pines which is a community of 352 units; situated in Spartanburg of SC. Bancorp and Eastern Union backed the Land Trust who made this deal in association with Mendel Fischer.
As per the date of Yardi Matric, this asset was previously traded in the year 2017, when the ‘current’ vendor bought this 22 building property for nearly $16.4M. Thus this deal made the seller rich by $5.9M. Nonetheless, both parties are in profit, the previous owner being happy of getting a good profit from his investment while the new owner is anticipating profits in near future.
How real estate knowledge helps?
The people who did the brokerage of this deal were professional real estate dealers. They have a thorough knowledge about the prospective benefits a property could bring in to its new buyer. They also know how to verify the assets owner’s title without disturbing the privacy of the same. At the same time, they are well versed with local and state land laws that helps them draft a perfect sale deed which gives both parties an equal opportunity to benefit from the deal.
Why seek help of Multi Housing News?
Seeking the service of a professional broker to buy or sell a property is definitely expensive. However, learning how to get things done in the simplest yet profound manner, without spending a lot of cash is something that can be learnt from Multi Housing News. With variety of information on the website about the real estate and its nitty-gritty, all one has to do is read and comprehend. Then it is a simple task to segregate what is to be done and what is to be avoided, so to get the best deal with less expenses.
Also, following the news about the real estate rates and suggestions on which property to invest in; makes a big difference to the investor’s money. Hence, treading carefully in such a sensitive area is best advised, with verified knowledge.