New York, NY, January 7, 2019 – Keen-Summit Capital Partners LLC is pleased to announce the sale of the former Saint Catharine College campus in Springfield, KY. The property, which prior to Keen’s engagement, had been on the market for over one year, sold at auction. With five weeks to market the property, Keen generated 50 prospects and 10 qualified bidders. At the November 20, 2018 auction, the 90+ acre campus sold after spirited bidding for $2,400,000, one million dollars above the reserve price.
Keen represented LS Associates, LLC, as Federal Receiver for the assets of Saint Catharine College, Inc. in the matter of The Huntington National Bank, as Trustee, v. Saint Catharine College, Inc., et.al., U.S. Dist Ct, W.D. KY Civil Action No. 3:16-cv-00465-DJH.
“We are very pleased with the results of the auction process” said Robert Leasure, Jr., of LS Associates, LLC. “Keen did an excellent job generating interest and offers on the property in a highly expedited timeframe.”
“Our time-tested marketing approach targeted users, investors, developers and brokers both locally and nationally, and we had interest from prospective buyers from all over the country,“ said Matthew Bordwin, Co-Principal and Managing Director of Keen, the auctioneer. “We too are very happy with the results of the auction and are glad to have played a role in its successful outcome”.
The sale of the property is scheduled to close by year end. Keen- worked locally with David Hardy and Bryan Flaherty from CBRE in Louisville.
Since 1982 – for 36 years – Keen’s professionals have been successfully executing real estate and corporate finance transactions for financially challenged businesses and their creditors. With more than 175 years of combined experience (covering more than 3 billion square feet of real estate, constituting over $3 billion in transactions and encompassing more than 27,000 properties), the professionals at Keen offer their clients best-in-class lease restructuring services, real estate disposition, M&A and capital markets solutions. For more information about Keen-Summit Capital Partners LLC, call 646.381.9222 or visit www.keen-summit.com.
Founded in 2002, Summit Investment Management LLC is a private investment company headquartered in Denver, Colorado. Since its inception, Summit has invested more than $1.5 billion in distressed debt acquisitions, balance sheet restructures of operating companies, special situation capital, bridge loans and joint ventures. For more information about Summit Investment Management LLC, call 720.221.3200 or visit www.summit-investment.com.
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.
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