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 Overview LMS-Patson Portfolio The Nokia Buildings Union Bank Plaza Vornado - Patson JV Entity The Metropolis Edgewater at Ocean Galleria Corporate Centre |
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Retained by JEMB Realty Corporation to explore opportunities to recapitalize or sell a 538,346 square foot office and retail center located in the heart of Downtown Scottsdale, Arizona. |
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Marketing challenges included gaining investor focus to understand the complexity of the deal which included an office component, a retail component, a portion of the property being located on the subterranean level, a potential on-site development and the overall challenging history of the project. |
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Zietsman Realty Partners conducted a full marketing of the Property to explore the optimal structure for JEMB going forward. |
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An initial round of bidding was conducted and numerous offers were received and considered by JEMB based on offer price and the potential ownership structure. |
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At the conclusion of the initial round of bidding, JEMB agreed to buy Lehman’s debt and to recapitalize the asset. |
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