In order to maximize recovery value and exposure, we ran a standard five week bidding period and marketing campaign targeting business and environmental buyers. Indicative bids were placed at the conclusion of week four, and best and final bids were received at the end of week five.
Some of the interested note investors visited the site to confirm operation and assess the location during the best and final period. The highest bids for the asset were received from business investors and environmental contamination specialists. The note was purchased by an out-of-state business investor looking to arrange a DPO.