Our Approach

Market dynamics shifted during the sales process, with virtually all SEDU developers holding off on acquiring new development sites. We pivoted and focused more of our discussions on townhome developers, as we believed the scale would work well for a boutique project in the affluent neighborhood, which was going to benefit further from the Safeway redevelopment across the street. We went under contract with a townhome developer that needed two closing extensions to secure financing and ensure a lot boundary adjustment was final. In exchange for these extensions, we were able to get additional daily earnest money payments that were not applicable to the purchase price. The sale closed at $401K/  Townhome Unit and the buyer is now under construction.