NAI Horizon Negotiates Two Chapter 11 Industrial Deals For $4.897M

 

Via azbigmedia.com

NAI Horizon Senior Vice President John Filli, SIOR, represented the seller, a debtor in a Chapter 11 proceeding, in a pair of Southeast Valley industrial deals totaling $4.897 million.

Filli represented 4K Properties LTD and Arizona Steel Finishing LLC, both Arizona limited partnerships from Queen Creek, in the $3.17 million sale of three industrial/manufacturing buildings totaling +/-65,779 SF on 9.82 acres at 5136 S. Desert View Dr., and 5051 S. Warner Dr., in Apache Junction, Arizona.

The U.S. Bankruptcy Court-related transaction involved Milling Machinery Inc. as a “stalking horse” bidder – an attempt by a bankrupt debtor to test the market for the debtor’s assets in advance of an auction of them – and was subject to the highest and best offer.

 

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