Together, these three properties are comprised of a 122,000 s/f Walmart SuperCenter in Saukville,WI, and a combined total of 204 units across two multifamily properties in Lowell, MA. and Spartanburg, S.C.
“As a new firm, we have already closed three deals totaling $44 million and have another $40million under hard contract,” said Finkler, vice president of investment sales. “This success largelystems from our data analysis tools, which ensure maximum exposure for each deal within a shorttime period, fostering a competitive bidding environment and the highest resulting price possible.For each of these three deals, our process proved superior over the competition and maximizedthe value of our client’s hard-earned assets.”
For the Walmart SuperCenter deal, TrueRate was hired exclusively to market this property at a 5%going in cap rate with only five years remaining on the initial lease term. The team was able toproduce multiple offers in writing for the seller in only a matter of weeks, resulting in a sale priceequaling the asking price. The team was also able to negotiate a contract on behalf of the sellersthat contained zero contingencies and ensured the deal was not re-traded from contract to close.
“For my Super Walmart store in suburban Milwaukee, the Sam Finkler/Audley Clarke TrueRateteam brought me two offers at full asking price and we succeeded in transacting smoothly withone of those buyers, a highly credible party of longstanding repute,” said Zell K, principal ofMorning Sky Capital.
For the 72-unit Upstate Coliving deal in Spartanburg, S.C., TrueRate’s system of identifying buyerswith the highest likelihood of transacting on each deal yielded a buyer that was higher in price andbetter in terms than the competition. TrueRate negotiated a sales price that was $200,000 higherthan the initial asking price; this marked a price record for Spartanburg on a price per unit basis.
For the 132-unit Oak Residences in Lowell, MA., the sellers owned the property for just 12 monthsbefore TrueRate utilized a data-driven approach and notified the sellers that their property hadappreciated by 23% over just a 12-month holding period. TrueRate brought a reputable buyer thatclosed in 30 days and the property was sold for a going-in cap rate of 4.25%.
This combination of multifamily and retail properties exemplifies the team’s ability to close on allasset types nationwide, positioning them as an expert on investment sales in various markets.
TrueRate focuses on incorporating data, technology, predictive valuation and underwritinganalytics into every transaction, leading to a quicker close and transparent deal process. The teamrepresents CRE owner-operators of all asset types nationwide, emphasizing client relationshipsand building a competitive bidding process around each listing. Their unrivaled leading-edgetechnology aids generate the highest number of qualified buyers and precise estimates of theproperty’s current market value, giving them an extensive competitive edge over other industryplayers.
