Park Church

Project Outline

As is the situation with many congregations, Park Church had a beautiful 5.8-acre campus with older, functional obsolete improvements
Identifying a new location
Accessing the churches equity to purchase a new site before vacating current location

After exposing the site unpriced to our database of developers as a redevelopment opportunity, the Kidder Mathews team of Eric Knowles & Robert Fletcher received fourteen very competitive proposals
Subsequent, with the development value established, we identified a church willing to purchase the site as if redeveloped, very close to the development value, which was approximately 24% more than the value as if sold as a church
Ultimately, sold the site for $6,500,000; with a 90-day escrow, to the Preface Group, a Southern California home builder
Negotiated a 24-month lease back or until completion of the Tentative Tract Map
Identified and acquired for $2,250,000 an existing church site of 1.27 acres

Park Church obtained top of the market value for their existing site, and a protracted lease back period that afforded the time to find a new home
With the use of their capital from their buildings equity, the church was successful in locating and acquiring a site to meet their future needs