Clinton was hired to market and sell this trophy multifamily asset by a family who had owned the property since the early 80’s. Each of the respective owners needed to complete a 1031 exchange as part of the sale. We spent over a year advising the family on how to best position the asset and where to spend capital improvement funds in order to maximize the sale proceeds. The family remodelled a number of units, painted the building, updated some of the electrical systems as a result and the proeprty garnered 8 offers. Originally priced at $8,800,000, the property sold after a short marketing period, for $400,000 over the asking price in a contingenct free (day one) sale as a result of all of the improvements that were made. This one-of-a-kind trophy asset was located just steps from downtown Mill Valley and we positioned the marketing to focus onthe upside in the rents and the tremendous location in Souther Marin.

Trustee Sale of two
challenged properties

We were hired by a professional fiduciary trustee to market and sell two different multifamily assets.  The due diligence documentation for these properties was quite limited, with many missing leases, estoppels and historical financials.  The 24 unit property in Pacific Heights was also past due for the significant soft story retrofit which resulted in a notice of violation from the City.  The 4 unit property in the Richmond District had a very low annual income that barely broke even with expenses.  Navigating these numerous challenges could only be attained with seasoned and experienced representation.  We generated multiple offers for each property with additional hold harmless provisions for the seller.

Multifamily Portfolio in
Alamo Square and the Mission

We were hired by a group of siblings who had recently inherited three multifamily properties from their father.  As our goal was to generate the highest price for the family, we knew these assets would likely appeal to 3 different buyer types that we identified prior to marketing.  Working in stages, we were able to market and sell each of the assets with differing strategies for each property.  For the 12-unit property in Alamo Square, we generated multiple offers at the offer date resulting in the selling for $750,000 over the recent appraisal.

Trophy Marina Building

We were hired by a family of 4 siblings who had inherited this trophy asset from their parents.  We helped advise the family over a two year period as they took over management of the property, completed the soft story work, painted it and prepared it for sale.  The only challenge with this beautiful property was the limited income that made the cap rate and gross rent multiplier look very expensive compared to the recent sales in the market.   We were unwavering in our message that the long term value here outweighed the short term cash flow and financing challenges.  We generated multiple offers and sold the property at over our asking price.

Estate Sale of 2 Properties

We were hired by the Trust and Assets department of a Texas bank to sell two properties for a shared client who had recently passed away without a will.  We needed to ensure that the bank, the Texas court and the family beneficiaries were confident that the marketing process and negotiations were transparent and well documented.  Our vast marketing plan brought about multiple offers and our experience ensured both properties closed escrow.  During the escrow period for one of the properties we had to handle squatters who broke into a vacant unit and a non-compliant and challenging buyer.  The team led by Clinton navigated these issues and protected the sellers interests every step of the way.

Seller Financed Portfolio

We were hired by an owner of 7 multifamily properties in San Francisco to market and sell his portfolio as he wanted to retire from the day to day management of the assets.  He wanted to blunt the sizable capital gains tax that he would owe through a traditional sale.  He was not interested in a 1031 exchange, so he asked us to structure each transaction as an installment sale where he would “carry” the mortgage.  He was offering excellent leverage so it was paramount that we find buyers with excellent operating abilities and a significantnet worth. Over 18 months we completed each sale with tremendous exposure that resulted in record sale prices for the assets.