Real Estate Case Study–Closed Manufacturing Plant
A client was going through major changes to their business model and closed their manufacturing plant in December 2015; the last piece of their major restructure which was supposed to be completed by December 31, 2016. The client actively marketed their property for two years with no interested buyers despite reducing their asking price from $14.9MM to $9MM.
The client signed a contract allowing Sherwood to purchase the plant in October 2016 for a price of $9MM cash. Sherwood took title to the property on March 1, 2017.
The client completed its restructuring by year end while receiving significant above market value for their plant. In turn, Sherwood purchased $54MM cable TV spend on behalf of the client, which was planned and priced by their media agency.