Boca Raton, FL, February 1, 2016: QuickLiquidity today announced it has agreed to acquire a real estate minority interest position on the secondary market through the Chapter 7 Bankruptcy Court. The 12.756% minority interest position is in a 28,000-square-foot retail strip mall built in 2005 and appraised in 2015 for $4 million. The strip mall is located in Virginia and its current and past tenants include Cici's Pizza, Citi Financial, The Giambanco’s Italian Grill, and other retailers. The strip mall’s adjacent neighbors are Lowe's, Kroger, American Family Fitness, WaWa, and other national credit tenants.
A. Yoni Miller, Principal of QuickLiquidity, said: “We work hand and hand with bankruptcy trustees to act as the Stalking Horse to acquire real estate partnership interests on the secondary market. We’re continuously diversifying our holdings in a wide variety of property types and geographical locations with experienced managing members and general partners with a proven track record of success. We’re excited to partake in the Chapter 7 bankruptcy process to acquire this minority interest position and ultimately provide an exit strategy and liquidity to the estate.”
The founders of QuickLiquidity purchased their first minority interest position in a commercial real estate partnership on the secondary market in 2009 and continue to provide a reliable exit strategy to limited partners looking to sell their illiquid real estate partnership interest.
