HILCO REAL ESTATE’S EXPERTISE SPANS NATIONALLY ACROSS EVERY ASSET TYPE & APPROACH
Hilco Real Estate (HRE) is well practiced at maximizing the value of assets in virtually every asset class across the U.S. With decades of experience working with clients and properties in unique scenarios, HRE strategically addresses complexities by developing a customizable technique to provide more options and better solutions to bring speed to value for clients.
HRE was retained to conduct the court-supervised auction of 45 multifamily properties, with 535 units total, located on Chicago’s South Side, formally known as Better Housing Foundation Portfolio B. (In re: BHF Chicago Housing Group B LLC. 1:20-bk-12453).
After developing and implementing a comprehensive, nationwide plan to reach interested buyers, HRE generated numerous offers, guiding the final closing price upward to $18,625,000, an overwhelming 10+ million increase from the original stalking horse bid.
As part of its continuing series of successful auctions, HRE facilitated the sale of 140 structures and development lots on behalf of the New Orleans Redevelopment Authority (NORA).
The two-day process resulted in 4,795 bids, 100% of the properties to be sold, and over $5.39 million in sales. HRE has closed 1,400 properties and secured $48 million for the New Orleans Redevelopment Authority alone.
MANAGED QUALIFYING OFFER SALE
HRE was engaged to sell a vacant California Walgreens. The tenant’s lease expired in 2019, leaving the property owner with limited options and no inbound income. Running a managed qualifying offer program, HRE created significant interest in the market and presented multiple offers to the seller.
A final offer of $3,300,000 was accepted, and the property was under contract and closed in less than 6 months.
MAJOR RETAIL CORPORATE CLIENT SALE
In recent years, HRE has been hired by some of the largest corporations. One particular client is a very healthy retailer who sought to sell a sizeable number of their closed stores and excess land sites throughout the U.S.
Over the last two years, HRE has sold eight owned buildings totaling $25,000,000 in sales and nine excess land sites totaling $18,000,000 in sales.
HRE has developed a strong and multi-faceted partnership with First Midwest Bank (“FMB”) over the last five years that includes the strategic disposition of both excess bank branches and real estate owned (OREO) assets across the Chicago metropolitan area.
Utilizing a combination of traditional brokerage, managed bid and auction platforms, HRE’s creative and targeted marketing techniques have generated hundreds of interested parties and competitive bidding environments, resulting in the sale of more than 90 properties, many times at values in excess of advertised asking prices.
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Hilco Real Estate (HRE)
assist clients monetize their assets, selling more than 200 million square feet of retail, industrial and office properties. With over 35 years of combined experience working alongside both lenders and investors in the sale and acquisition of every type of asset, our advisory team is an industry leader. We maximize property values in tight timeframes via auctions, note/loan sales, brokerage or potential repurposing solutions.
Passive liquidation management can lead to missed opportunities for substantial recoveries, especially during rocky economic circumstances. Don’t allow real estate assets to become liabilities – we can expedite transactions offering stable footing in this environment and ensuring unparalleled recovery opportunities.