The buyers who participated in the first sale process were convinced to look into the project once again in order to maximize the number of offers. Then, it was decided to let several interested parties into the DD process in order to
ensure deal certainty and void last minute price negotiations. Arranging a quality sale and DD process was the key in keeping all interested parties motivated.
Despite the challenges and non-typical case, Newsec managed to find a decent pool of investors interested into conversion/reconstruction cases and convince potential buyers to take a closer look into the property for the second time, create a fair competition and sell the property for a good price.
Despite the unusual challenges and skepticism of the potential buyers due to repeated process of sale, transaction was executed successfully and sold for a two times higher price than the one which has been offered by most of the developers to Estiko.