The Bottom Line:
As Interim Management, optimized the value of a bank-owned dairy farm operating as a feed lot and sold it in a competitive process. We maximized the bank’s recovery by negotiating a new lease with the current tenant prior to selling the property.
Our key actions resulting in the successful recovery for the bank included:
- Took possession of the property.
- Negotiated a new lease with the current operator to establish payment terms and move out timing to maximize value.
- Listed the property for sale and ran a competitive marketing process.
- Negotiated the sale contract and coordinated escrow and other closing requirements.
- Monitored on-site activity throughout the process, including all permits, property-level accounting, environmental monitoring (soil, well, air) and operator’s waste management protocols.