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Peoria, AZ | Senior Housing | Closed on RealINSIGHT Marketplace

  • Jan 09, 2020
  • Marketplace Closings

86-Unit Senior Living Community Generates National Exposure Attracting Qualified Bidders From Around The Country.

The Fountains at Lake Pleasant Sold On RealINSIGHT MarketplaceRealINSIGHT Marketplace and JLL are excited to announce the closing of The Fountains at Lake Pleasant, a recently renovated 84-unit independent living community in Peoria, Arizona.

The final purchase price for this property, which sold through an online auction hosted on CRE auction platform, RealINSIGHT Marketplace, was 121% above the reserve price.

Marketed in November 2019, Marketplace’s curated marketing campaign generated local and national interest, resulting in 100 signed Confidentiality Agreements. The auction itself incited lively and competitive bidding by five fully vetted and qualified bidders for a total of 26 bids.

“By using RealINSIGHT Marketplace we were able to market an asset in a tertiary market to a national audience, resulting in a price well over the reserve. Our client was very happy with the ease of use, communication, and delivery in such a short timeframe”.  - Sean Ryan of JLL

The advertising and marketing strategy implemented by RealINSIGHT Marketplace utilized its vast and growing national, local, and regional investor databases. This was accomplished by tactically utilizing targeted lead generation, custom digital and web outreach, and direct print outreach. Ultimately, the marketing drew significant interest from regional and national players and resulted in spirited bidding and final pricing that exceeded all expectations.

The Property had been traditionally marketed in 2018 to mixed results and did not produce an offer on price or terms that were acceptable to the Seller.  JLL and the Marketplace team designed a solid marketing strategy that centered around highlighting the value-add upside potential of the property including the potential conversion to a traditional multi-family asset, following renovations to the amenity base and resident units.

Learn more about this auction property by visiting the asset page: The Fountains At Lake Pleasant or contact us for more details at 800.915.7015.