200 Unit MF – Investment Sale
Property: Frances Way Villas
Client: BNC Real Estate
Project: BNC Equities, LLC hired Jerad Rector of Worldwide Commercial, PLLC to market and sell their 200 Unit Multi-Family property located east of US-75 near Beltline in Richardson, TX. Prior to hiring Worldwide Commercial, BNC has received a couple of unsolicited offers and
Broker Opinions of Value on the property.
Process: Through in-depth research we developed an understanding of the project that showed a much higher value. We undertook a very hands-on, high-touch marketing approach which included developing a strong offering memorandum with a compelling Pro-Forma model to illustrate the value add story. Worldwide Commercial generated substantial activity and within 1 month of initiating the marketing, we qualified dozens of potential investors, scheduled double digit property tours and generated several Letters of Intent which were all well above the previous value stated BOV’s from competing brokerage firms.
Result: Worldwide Commercial secured a qualified investor and a net disposition price
$1,700,000 more than the initial value the seller was told to expect from competing