Acheiving Liquidity on a Certain Date:
One of our tenets is we strive to make high quality real estate liquid. If we can achieve that goal, this asset class would be close to perfection. While nothing is perfect, we have developed a very good program that has achieved many of our clients' liquidity goals with very little compromise in price. In 2008, we created a sealed bid auction system that combined the strength of our traditional markets with the urgency and set date of an auction. Our program has now been copied by many. We tailored this through Plantation Auction Group, LLC which has now been absorbed into the Kohler & Associates Auction divison.
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Below are some examples of auctions we have performed, with the results of each.
Very successful auction, closed after the auction to one of the bidders. The seller had very high opportunity costs and essentially the plantation sold at a discount to what it would take in a normal market absorption. The plantation had a very strict conservation easement which typically increases the absorption period; however, the sealed bid auction had the property closed within two and one half months and the seller was extremely happy.
Lake Sugar Plum
Very successful auction. Sellers were investors who needed to sell a rare and unique property for the highest price in the quickest amount of time. The process brought $6,338 per acre.
"Unlike traditional auction companies that rely on seller desperation and cater to the same following of "bottom feeders" over and over we needed an advocate who could negotiate a sale on a level between retail and wholesale. The results speak for themselves. Kohler brought us $6,300 per acre at an auction in a "post bubble" market!"
Jim Ellis and Tom Wilkinson,
Old Agency Reserve/aka River Bluff
Brought a record high of $4,333/acre. We found a buyer from North Carolina who later placed a conservation easement on the property with our help.