HILCO REAL ESTATE SALES CLOSES $27M BANKRUPTCY SALE OF TWENTYFOUR25 GALLERIA OFFICE IN HOUSTON, TEXAS
Txylo.com/10291985

NORTHBROOK, Ill., Nov. 1 2024 ~ Houston, Texas - In a recent press release, Hilco Real Estate Sales (HRE) announced the successful sale of an 11-story, 285,000± SF Class A office building for $27 million. The property, located at 2425 West Loop South in Houston, was sold through a contentious bankruptcy process with HRE serving as the advisor.

The sale was made possible through the engagement of Galleria 2425 Trustee, Jones Murray LLP. HRE was tasked with managing the Chapter 11 Bankruptcy sale and established a comprehensive marketing and sale process to maximize interest in the asset. This resulted in nearly 31,000 views across various listing platforms during a focused one-month marketing period.

After a competitive virtual auction, the sale received two offers with the final price exceeding the court approved minimum bid by $7.25 million. Ben Zaslav, director of business development at HRE, expressed his team's expertise in navigating bankruptcy processes and real estate sales to achieve the best outcomes for clients.

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"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," said Zaslav. "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 HRE, also highlighted the strategic efforts that were necessary to complete the sale within a tight 30-day window.

"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," said Madura. "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, interested parties can visit the HRE website or call (855) 755-2300.

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