Location:
2206 Sherman Road
Jackson, WI
Buyer:
Net Lease Holdings, LLC
Seller:
Reliant Equities, LLC
Date of Sale:
08/22/07
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TRANSACTION SUMMARY:
Reliant Equities, a Chicago based private equity firm, hired Converse Capital to facilitate a sale/leaseback transaction on the real estate owned by Craft Cast. Reliant was under contract to buy Craft Cast and planned to utilize sale proceeds from the sale of the real estate as equity for the acquisition of Craft Cast. The property was located approximately twenty miles northwest of Milwaukee. Many investors had concerns about the high price per square foot due to the quality of the real estate, location and strength of Craft Cast.
Converse generated multiple offers from five capable buyers and created a competition bidding environment for Reliant, resulting in a successfully closing of the real estate and providing additional equity for Reliant.
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