CCIM Networking, Education, Technology Yields $39.7 Million Apartment Deal
Three Certified Commercial Investment Members (CCIM) demonstrated the value of CCIM Networking, Education and Technology with the late June closing of a multifamily apartment complex in Baton Rouge, Louisiana that sold for $39,750,000.
Here’s how it worked.
Networking: Karl Landreneau, CCIM, of NAI/Latter and Blum in Baton Rouge, met Edward Nwokedi, CCIM of Cushman & Wakefield in Houston, at a CCIM networking event in 2005. Both also participated in the CCIM Institute’s Jay W. Levine Leadership Development Academy program. In 2007, Landreneau met Dimitri Stefanou, CCIM, a broker with C. Stefanou Realtors, LLC of Rochester, New York, at a Partners event in Charlotte, NC. Landreneau, Stefanou, & Nwokedi then met at the CCIM Partners Event in Indianapolis where conversations began from a marketing session.
Education: All three CCIM designees have passed the four required graduate-level CCIM Core Courses needed to earn the designation, and brought this insight to the assignment. These courses address Financial Analysis, Market Analysis, User Decision Analysis and Investment Analysis – the cornerstones of sound commercial real estate investment.
Technology: Nwokedi got the assignment to sell the property and co-listed it with Landreneau Who then contacted Stefanou. Stefanou identified a potential purchaser and used the Institute’s Site To Do Business, an online suite of analytical and mapping tools, to evaluate the property.
Result: The Millennium Towne Center, 6810 Jefferson Hwy, Baton Rouge, was sold. The luxury complex, built in 2007, has 276 apartments.
Contact Information: Edward M. Bury, APR, CCIM Institute Senior Director of Public Relations, 312-321-4481, pr@ccim.com
source : www.pitchengine.com
