Performing Work For a Trustee
Property Type: Office
A trustee was managing the affairs of a family that owned two multi-tenant industrial assets in El Monte. Both properties were older assets with deferred maintenance and other tenant related issues.
LAA was hired to help the trustee provide an opinion of value on both properties. LAA and the trustee determined that the best course of action given the age of the properties and lack of cash flow on the assets was to liquidate and reinvest the proceeds into investment vehicles that would yield better overall returns for the beneficiaries. LAA hired a brokerage team at Colliers that was an expert in the industrial market in El Monte to sell the assets on behalf of the trustee.
LAA and the brokerage team at Colliers developed a proactive marketing campaign to local owner/users and developers and ultimately sold the assets to two owner/user buyers thus freeing up liquidity for the family to reinvest the proceeds into investments with better returns.