Ellensburg,WA

Diligence in the listing process pays dividends at closing

In September 2021, the ownership group of Irving Place wanted to close by the end of the year, so they hired Multifamily Mason to expose the asset to the most qualified Inland Northwest multifamily investors. As the local market expert, Mason invited his exclusive buyers network to tour the property ahead of a public launch. During tours, Mason’s team discovered a major CapEx requirement not previously budgeted for, brought in a local contractor, and identified a solution at ⅓ the cost of the current owner’s solution. As a result, all exclusive buyers submitted offers above pricing guidance, we negotiated non-refundable deposits, and went from listing-to-close in 99 days, setting a market best in-place cap rate.

One-on-one dedicated outreach finds the buyer

The owner of brand new construction in Pendleton, Oregon had previously listed his property for sale with a commercial broker who could not procure a single offer for six months. Our team met with the owner who needed the capital for a 1031 exchange purchase, and identified the current listing issues, namely, incorrectly priced, lacking broad exposure, and leaving buyer questions unanswered. We completed a thorough property analysis, identifying keep deal story points, sourced debt and property management quotes, and re-launched to our engaged buyers network as well as the public market across the Western US. Mason made 145 direct phone calls to buyers specific to this deal, and ultimately sourced multiple offers, providing a smooth closing process and successful 1031 exchange for the Seller in a changing and challenging market in late 2022.

Creative sales strategies helped us achieve client’s long-term investing goals

The owner of two development sites across Spokane had owned the land for multiple generations. Their plans were to transition equity from vacant sites into cash flowing assets. The Multifamily Mason team met with the owners and identified an opportunity to maximize the sale value of their sites with broad-based marketing and deal storytelling, the opposite of how most sites are sold in Spokane. We targeted and reached out directly to hundreds of regional and local developers with multifamily-specific development data, renders, and proforma inputs. In addition, during our negotiations with buyers, we devised a creative seller financing strategy that both maximized the sale price and immediately converted the owners equity into cash flow - meeting all the Sellers goals. Ultimately, the Spokane Valley site closed at $22,727 per buildable unit, far above market value.