48 Unit Multifamily – Investment Sale
Property: Veranda Court
Client: Five Star of Ridgmar, Inc
Project: Five Star of Ridgmar, Inc. hired Jerad Rector and John McGregor of Worldwide Commercial, PLLC in 2016 to market and sell their 48 Unit Multi-Family property located in Fort Worth, TX. Prior to hiring Worldwide Commercial, Five Star of Ridgmar had the property listed with a national firm. The project was listed for less money and it did not sell.
Process: Through in-depth research we developed an understanding of the project that showed a much higher value than it was previously listed. 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 upon 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 listing price.
Result: Worldwide Commercial secured a qualified investor and a full price disposition
price 20% higher, or $400,000 more than they previously had it listed with a national
Value Add – $400,000