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Orange County, CA

Marywood Center

Posted In — Success Stories |
20%
over appraised value
$19,500,000
sale

Project Outline

  • The Roman Catholic Diocese of Orange County wanted to replace Marywood Center as the properties improvements were not functional for their use
  • Highest and best use was as a redevelopment opportunity. However, the site had some significant issues, ranging from hillside slippage; geotechnical and historical,
    which needed to be overcome to maximize the value
  • Assurance of close was critical given the acquisition of the Crystal Cathedral in Garden Grove, CA

Approach

  • Through the Kidder Mathews team’s efforts and contacts, we generated over two dozen offers, ultimately obtaining a value that was approximately 20% over appraised value, ($19,500,000)
  • Negotiated significant non-refundable/released deposits, occurring over the duration of the 18 month Escrow period with the New Home Company, a large publicly held residential developer

Results

  • Escrow closed on schedule
  • Developer obtained their Tentative Tract Map

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