Tenant Representation

CRESCO Real Estate represented Regency Hospital Company in their search for a second area location. This project grew from the demographics and site search of the initial Regency assignment. It was an unusual redevelopment of a former family center to a long term care facility.

Approach

• Transaction involved a multiple offer situation making the process more complicated.
• Worked directly with public officials to expedite a zoning variance to meet the closing time lines of other potential Buyers.
• Through extensive communication between CRESCO and the selling agent, it was determined an offer above the asking price along with an expedited close would be necessary to guarantee the property would become Regency Hospital Company’s west side location.

Results

• Created an “outside the box” redevelopment of a family center into a residential long-term acute care treatment center.
• Knowledge of the marketplace along with a complete understanding of the Client’s business saved the Client and estimated 30% of its gross investment and cut the delivery time in half.