Market to Close in Six Weeks
In September 2014, Kennedy Wilson presented a value analysis of Seabridge Marina Center, a 64,000 square-foot, waterfront retail property located in Oxnard, California. Anticipating an REO transaction, the lender engaged Kennedy Wilson to dispose of the asset. Kennedy Wilson prepared all marketing and due diligence materials in advance of the foreclosure and executed a successful go-to-market strategy. The property was sold to a qualified buyer who released hard money upon signing a purchase and sale agreement and closed within two weeks, all cash, at $19 million – a price that exceeded the seller’s initial valuation.