Located 45 miles West of Minneapolis, this property was impacted by the tech slowdown of 2001. Facing uncertainty, this owner/operator contacted Colliers for expertise. Eventually the owner decided to place the property on the market prior to foreclosure proceedings.  Our assignment was to procure a willing and able purchaser while preserving the owner’s position as a seller during these proceedings.

 

Colliers cultivated a pool of interested buyers resulting in several offers. Within this pool of buyers Colliers managed the urgency required of this situation. This resulted in a selection of offers that could complete the deal on terms that met all of the Seller’s goals. The final disposition of the project satisfied all of the Seller’s requirements to the lenders prior to the end of the foreclosure period.