Real Estate Transaction Portfolio > Land
97th/Lawnfield
A bank repossessed this site after a previous developer did not meet the loan obligations. As the bank did not want to own the site, they hired John to find a buyer at a price that would allow them to sell according to the bank’s gain/loss regulations. The site had significant slope and no sewer access. John found a buyer that was willing to hold the site without immediate development and pay the price our client needed. The buyer with strong personal finances negotiated with the bank to make a new loan to fund the purchase. Our client happily turned a non performing loan into a performing loan which in the regulated bank world is an extremely favorable transition.
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Pacific Real Estate Investments, LLC
15280 NW Central Drive, Suite 216 Portland, OR 97229
503.439.8924 phone 503.217.6072 fax
kennedy@pacificinv.com
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