Koll Savi Ranch is a 48,895 square foot Class B, multitenant office building. The property was put into receivership in 2019 after the anchor tenant (who was also the borrower) went bankrupt and vacated the property.
Objective & Challenges
The objective was to work with the receiver and outside leasing brokers to backfill the vacancy then position the asset for disposition. The assignment presented numerous challenges including a bankrupt sponsor, deferred maintenance, high vacancy, near term rollover, a 1031 exchange, and financing difficulties in addition to having a receiver, special servicer and numerous attorneys involved. The project required Kidder Mathews to quarterback all the different players involved and understand their disparate interests, all the while maximizing value for the client.