Capital Pacific Home
For those with higher expectations™
9.25.2008
Capital Pacific Closes West Park Plaza Twice in Two Years
For the second time in two years Capital Pacific has closed West Park Plaza, a 200,000 sq.ft. valued added enclosed mall located in Billings, Montana. The Property is anchored by Hastings, CVS Drugstore, OZ Fitness and shadow anchored by Sears.

Through a focused marketing program, this asset was presented to the most qualified buyers nationwide producing numerous qualified offers from a wide array of investors. Capital Pacific’s ability to provide comprehensive due diligence materials upfront allowed investors to submit educated offers, reduce timeframes, with the eventual buyer coming from Washington.

All parties worked closely to overcome multiple obstacles during the transaction, including the following:
  • A large existing tenant was in the process of negotiating a lease renewal. Ultimately, after difficult discussions, a lease favorable to all parties was executed and necessary for the lender to fund.

  • Sears held the first option to purchase a portion of the center. A waiver of their first right was necessary to close and was obtained within the timeframes.

  • The buyer planned to reposition the asset and had to work diligently with the city on plans and permits, all of which were done in short order.

  • The lender repeatedly reduced the buyer’s funds requiring Capital Pacific to conceive a creative structure involving Seller financing.


Capital Pacific’s extensive track record facilitated a valuable transaction for both parties even with multiple obstacles.

posted by Capital Pacific  # 1:38 PM
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