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Oceancrest provided property valuation and market analysis on multiple assets located throughout the country as a precursor to the eventual acquisition of another company. Because the confidential nature of this assignment due to the ongoing negotiations between the two operations, significant emphasis was placed on these valuations for determining the overall acquisition price of the company. The company acquiring these assets is a large industrial user, who had selected Oceancrest to facilitate the sale of those real estate holdings.
A number of these asssets were located in areas where there were limited asset level comparables. A number of third-party market research reports and valuation tools were utilized. These reports entail pertinent overall market and submarket data that was crucial in completing this assignment in such a short timeframe.
Oceancrest performed an onsite reconnaissance of each asset and submarket in multiple states. Local brokers and appraisers were contacted to provide real time data and trends for specific submarkets.
The property valuation report enabled the client to have a thorough understanding of the entire real estate portfolio and resulting overlap, including their values and marketablity, the ability to identify any potential imparments in the portfolio, as well as opportunities to sell in the market.
The cliet retained Oceancrest to coordinate the sale, including the selection and supervision of local brokers, of those real eastate holdings that overlapped in their respective markets.