I was really impressed by the "can-do" and professional approach of the entire team from the start. The property occupancy was at 63% when we spoke to you, down from 97% the previous academic year, due to the Covid-19 pandemic. We had a deal lined up to sell the property in March 2019 which fell through as the buyers raise money to close the transaction. Though financing was tough for most student housing owners, you were confident of being able to find a buyer close to our pre-pandemic value.
You emphasized the importance of marketing and targeting the property to the right type of buyer. This was illustrated to me in the early stages of your team marketing the property and within the first month, we received a substantial amount of interest with multiple offers from well-qualified interested parties. Ultimately, your team performed as promised and convinced the buyer to come in with a non-refundable deposit and the property achieved the listing price. The price was slightly above the pre-covid stabilized pricing and I am very pleased that you managed to get the buyer to see the potential in the property.