The Preserves At Windward
Partially completed, 126 unit condominium project in Cape Haze, Florida.
The lender had halted building of the project and a bankruptcy trustee was appointed to administer the estate while in Chapter 11. The lender wished to credit bid and take possession of the property, but the trustee wanted to confirm that there was no equity in the property.
Equity Partners was retained as the exclusive broker and conducted a very broad marketing campaign, generated significant interest in the property, and negotiated multiple offers.
Based in the results of the Equity Partners marketing process, the lender was able to successfully credit bid the property and satisfy the trustee and the court that the estate had no equity in the property.