Denver Church Property Sells to Learning Center
Tom listed this property for sale in June 2022. The owner had recently received a deed in lieu of foreclosure. After an extended period of time in the bankruptcy court, ownership’s motivation was to sell as quickly as possible. We initially contracted with a preferred developer for a national childcare chain with the goal of a year-end closing. However, due to a longer than expected permitting process, the buyer asked to extend the closing into 2023. While under contract with the developer, Tom had been contacted by an immediate cash buyer for a Jewish community. We were able to quickly pivot and contract with the new buyer. We closed with Jewish Learning Center of Denver Inc. on December 23, 2022 for $2,100,000. Ownership was pleased we were able to achieve their goal of a year-end close.