TSCG was engaged in January 2020 to market the property and received over 130 confidentiality agreements. The call for offers initially set for March 2020 but ultimately suspended due to the COVID shutdown.

During the COVID pause, TSCG kept a regular check on tenant status as well as communicated regularly with highly interested investors. During this period one of the anchors filed for bankruptcy and closed all locations thus providing an additional “value add” component to the investment.

In September 2020, the financials were updated and TSCG re-engaged the market to underwrite the opportunity.

The buyer was selected in November 2020 and we worked through a variety of COVID related logistical obstacles including coordinating site visits with west coast-based principals.