THE PRESERVE AT WINDWARD – The lender had halted building at this partially completed, 126 unit condominium project. A trustee was appointed to administer the estate in Chapter 11 and SC&H Capital was retained as the exclusive broker.
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. SC&H Capital conducted a very broad marketing campaign, generated significant interest in the property, and negotiated multiple offers. Due to our marketing process, the lender was able to successfully credit bid the property and the trustee and court were satisfied that the estate had no equity in the property.