20 Apr 2018
Aurora, CO—Matthews Real Estate Investment Services™ announces the sale of Abilene Market Phase IV, a 55,925 square foot neighborhood shopping center in Aurora, CO for $9.9 million. The asset was purchased by a group of foreign investors who were looking to purchase properties in Aurora, CO with a strong cash flow. Matthews™ represented the seller, Bluesky Management Corp.
Matthews™ achieved strong results by successfully navigating potential financing hurdles associated with all four phases of Abilene Market. Bluesky Management Corp. had previously tried to sell the property twice before with two other brokerages before listing it with Matthews™. To hit the total blended return the seller was looking for, Matthews™ advised they refinance in order to sell the four phases individually. Bluesky Management Corp. has now sold two of the four phases as a result of this recommended strategy.
The new creative route Matthews™ took to sell the asset cast a wide net that generated interest from buyers in both California and Colorado. By reframing the property’s story, Matthews™ revived interest in the deal and generated multiple offers that created competition for the asset. Although it is never easy to take over a listing when a property has been on the market with several other brokers for several months, the reset and new creative strategy were critical in getting this asset sold.
About Matthews Real Estate Investment Services:
Matthews Real Estate Investment Services™ is recognized as an industry leader in shopping center, STNL, leasing, multifamily, management, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.