Wild Ride on Wrightwood

Interra Realty was exclusively engaged to market 3821-23 W. Wrightwood Avenue in late 2019. After receiving very strong showing and offer interest, a buyer was selected. The deal fell apart early into the COVID-19 pandemic due to uncertainty. We kept the buyer engaged in the deal and their interest became strong as the market and property continued to perform well. 

The prospective buyer decided to sell a small building to unlock some equity to redeploy into Wrightwood. We brought that deal to a residential agent who represented a local condominium developer. After that deal closed, we reinstated the Wrightwood deal. The buyer’s typical lender was conservative on acquisitions, so we introduced them to one of our lending relationships. The deal closed smoothly at the pre-COVID price and terms.