CHALLENGE

The asset consisted of a ±779,439 SF portion of the ±851,439 SF Family Center At Taylorsville – a community shopping center anchored by Shopko, Harmon’s (NAP), FYE, Sports Authority, Jo-Ann Fabrics, 24 Hour Fitness, Bed Bath & Beyond, Ross Dress For Less, PetSmart, and Guitar Center. Family Center at Taylorsville was one of three assets sold in a $223Million portfolio from DDR to Excel. The buyer of the three property portfolio, Excel Trust, wanted two of the three assets and only the stabilized property.

SERVICES

Through an in-depth financial analysis of several scenarios, our team put a tangible structure to the future returns of the asset. Our team also provided a realistic and creative approach to solving the transaction’s debt dilemma by utilizing both the Colliers’ Capital Markets platform and outside relationships. Not only were we tasked with creating the asset’s story, we had to raise the equity.

RESULTS

Our specialized team was able to deliver Excel Trust the exit they needed to acquire the entire portfolio. We represented the buyer and raised the $75M of equity needed to close the asset all cash within a 60 day period. With $232M and three large institutional relationships on the line, our team delivered and sold the Family Center at Taylorsville in a dual escrow from DDR, to Excel to Trigate. This transaction was a notable victory as it became the 2014 Retail Deal of the Year for the Western region.