2200 West Loop South

2200WestLoop1   2200WestLoop2

The challenge

Existing note holder to sell existing under performing note on a Class A 65% leased "Galleria" office building. Prior to the note purchase, the owner performed a full renovation including the construction of a structural parking garage. Enticing the note holder to sell and sell at a discount was difficult due to good relationship with owner and property being in good physical condition.

The strategy

Negotiating with existing note holder to sell at a discount then negotiate with "owner" to release Deed to insure clear title to the property. Transaction was accomplished and clear title was achieved, lease up to 90% occupancy was accomplished and property was subsequently sold.

The results

Off market note purchase that resulted in assignment of Deed & Ownership of asset.