Receivership of Vacant Big Box Retail Center
Asset Disposition
Served as Federal Court Receiver of big box retail center in Los Angeles that had been vacant for over 5 years. Key actions leading to successful sale of property above appraised value included:
- Maximized sale price by finding buyer whose re-use of property generated the highest residual purchase price for the building.
- Negotiated conditional use permit with the City of Los Angeles and neighboring tenants to gain approval for the buyer’s re-use, which ultimately increased the property’s value by over $1 million.