Located in Dallas, TX, Matthews™ was presented the challenge to sell five separate value-add properties in the Bishop Arts and Oak Cliff submarkets. Many challenges arose at each of the properties such as roof, HVAS, structure, pluming, and city violations.
Utilizing the Matthews™ proprietary database, the team brought many offers to the table and advised the seller who to move forward with to achieve the best price and ensure a smooth closing. Sourcing three separate buyers for the five properties, the Matthews™ team was faced with a complex deal that included many moving parts. Each of the three buyers had a small window to close, which took a tremendous amount of due diligence. The buyers were all local and were motivated to buy their respective properties to add to their existing portfolios in the submarkets.
The buyers saw multiple avenues to infuse capital into the assets to improve and increase rent. Additionally, the future development in the immediate areas of the select properties within the portfolio should bolster the long-term strength of these investments. Matthews™ also achieved a great price for the seller.