HILCO REAL ESTATE SALES CLOSES $27M BANKRUPTCY SALE OF TWENTYFOUR25 GALLERIA OFFICE IN HOUSTON, TEXAS

News provided by

Nov 01, 2024, 10:30 ET

NORTHBROOK, Ill., Nov. 1 2024 /PRNewswire/ -- Through a contentious bankruptcy process, Hilco Real Estate Sales (HRE) proudly announces the successful sale of an 11-story, 285,000± SF Class A office building for $27 million. HRE was engaged by Galleria 2425 Trustee, Jones Murray LLP, to manage the Chapter 11 Bankruptcy sale of this property located at 2425 West Loop South in Houston, Texas.

The HRE team served as advisors, establishing a comprehensive marketing and sale process that effectively maximized interest in the asset. During a focused one-month marketing period, HRE targeted the Southwest region and the local Houston area, generating nearly 31,000 views across its listing platforms. After a competitive virtual auction, the sale resulted in two offers with the final price significantly exceeding the court approved minimum bid by $7.25 million.

Ben Zaslav, director of business development at Hilco Real Estate Sales, stated, "Our team's deep understanding of the bankruptcy process and the nuances of real estate sales allow us to help clients achieve the best possible outcomes. By providing targeted, actionable solutions and driving speed-to-value, we consistently help our bankruptcy clients maximize the value of their commercial real estate assets. This is what sets HRE apart in a competitive market."

Steve Madura, senior vice president at Hilco Real Estate Sales, added, "Executing a successful sale within a tight 30-day window required rapid and strategic marketing efforts, along with efficient management of inquiries, showings and negotiations. This urgency often necessitates compromises, but in this case, we were able to maximize the property's value while closing the deal quickly."

The sale was completed within 30 days following the sale confirmation hearing, showcasing HRE's ability to deliver exceptional results under tight deadlines.

For more information about this transaction or to inquire about other opportunities, please visit our website HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.

SOURCE Hilco Real Estate