HILCO REAL ESTATE SALES SUCCESSFULLY FACILITATES BANKRUPTCY SALE OF 23,500± SF FORMER SCHOOL IN HOUSTON, TEXAS

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Nov 08, 2024, 10:10 ET

NORTHBROOK, Ill., Nov. 8, 2024 /PRNewswire/ -- Hilco Real Estate Sales (HRE) is pleased to announce the successful sale of the former Holy Trinity Episcopal School, located in the northeast area of greater Houston, Texas at 11810 Lockwood Rd. The sale process, which was completed in an expedited timeframe, highlights HRE's ability to overcome key challenges and generate strong interest among prospective buyers.

One of the critical challenges addressed by HRE was the need to reactivate the water and wastewater supply at the property. By proactively gathering detailed information on the costs, timeline and key contacts needed to restart these services, HRE was able to educate potential buyers, streamlining their decision-making process.

Additionally, HRE provided full transparency regarding the shared MUD (Municipal Utility District) agreement tied to the property. The company worked with legal experts to clarify the agreement and ensured all prospective buyers understood the associated responsibilities, costs and documentation. This clear approach helped ease concerns and created a smoother path to a successful sale.

HRE's marketing strategy emphasized the versatility of the former school building, showcasing its potential for multiple uses. Buyers were drawn to the property's possibilities, from transforming it into a community center or residential development to repurposing it for industrial or specialized facilities like medical centers or tech hubs. The building's continued use as an educational facility also remained a strong option.

To further accelerate the sale, HRE implemented a robust marketing campaign, leveraging digital platforms, real estate websites, social media and local, regional and national advertising. HRE hosted three official on-site inspections, providing prospective buyers an opportunity to tour the property, assess competition and engage directly with HRE representatives. These touchpoints played a crucial role in increasing interest and driving competition, leading to the successful and timely sale of the property to the Sheldon Independent School District.

"This sale was a testament to the power of a targeted and transparent approach," said Steve Madura, senior vice president of Hilco Real Estate Sales. "By addressing the property's complexities upfront and highlighting its immense versatility, we were able to generate significant interest from a variety of users in a compressed timeframe. We're proud to have delivered a solution that benefited both the seller and the future end users of this unique property...which are the children within this district."

"Our extensive experience in bankruptcy sales enabled us to move swiftly and navigate the complexities of this transaction," added Ben Zaslav, director of business development at Hilco Real Estate Sales. "By leveraging our knowledge and market insight, we created a competitive environment and secured a successful outcome for all parties involved."

Sarah Martin, board president with Holy Trinity Episcopal School Inc., said, "I am thrilled. We love that Sheldon Independent School District is the buyer. Chris Murray, Iain Kennedy, Steve Madura and Michael Kneifel have been great to work with. I couldn't have asked for a better team to make this happen. They're doing good in the world!"

The sale was completed within seven days of the sale confirmation hearing, highlighting HRE's ability to deftly maneuver around tight deadlines to provide exceptional results.

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