Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Reichel Realty’s $2.8 Million Cash Transaction Keeps “Lights On” in Building Supply StoreReichel Realty & Investments’ President Bill Reichel and Senior Associate Ken Duke moved quickly to broker the $2.8 million cash sale of their client’s properties, furniture and equipment.
By: Reichel Realty Investments When building supply company Lainhart & Potter faced a bankruptcy court order to auction its properties in West Palm Beach and Jupiter, Reichel Realty & Investments’ $2.8 million cash sale of their client’s properties, furniture and equipment. The court order included Reichel Realty’s role in preparing the properties. With all due diligence completed up front, Reichel and Duke quickly found a buyer looking to expand its Florida presence – Marjam Supply Company, a Brooklyn, N.Y.-based building supply company with locations in 12 states throughout the eastern U.S. Reichel’s team fast-tracked the sale within 30 days, enabling Marjam to open the 50,000-square- “Lainhart & Potter’s business in West Palm Beach dated back to 1893, and they were determined to see that all their creditors would be paid,” said Reichel. “Achieving a sale instead of auction maximized value, while bringing a major player in the building supply industry to the local market and preserving much-needed jobs in the areas they serve.” End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|