Rhenium conducted an intensive marketing campaign, targeting both local and regional investors, funds which provide hard money lending programs, national hotel brokerage firms and owner operators who intended on running the business post-foreclosure.
The marketing period was a 4 week indicative event, with an additional week for buyers to submit best and final bids. Rhenium invited the top regional and national bidders back to participate in the best & final round, and a local investor who bid significantly less than the top offer. The non-local bidders utilized the additional week of marketing to inspect the property and firm up their pricing.
