CRE Bid X Program
At the heart of the Bid X program is a premier Buyer centric trading platform that combines the time urgency of an auction, coupled with the time honored personal service provided by professional sales consultants. This unique off-market trading platform privately matches the specifics of a commercial real estate asset to the purchasing criteria of thousands of pre-vetted equity buyers.
Today, some auction firms are selling more commercial assets than many of the nations traditional commercial brokerage firms. Yet, many serious equity investors have an strong aversion to auction platforms. Our Bid X program blends some of the benefits of modern day auctions, with the benefits and services of traditional commercial brokerage firms. The result is a system that provides financial institutions and servicers with a secure trading platform that privately matches commercial assets with pre-approved equity investors to assure a rapid sales transaction.
The process flow of the Bid X program is shown in the diagram at the right. As assets are made available for sale, the Bid X computerized system privately combs through multiple databases of pre-vetted equity investors whose purchasing criteria has been pre-established. When matches are found, the Bid X sales desk contacts those “Matched” equity buyers to inform them of a commercial Asset(s) that meet their requirements. If the equity buyer expresses interest in moving forward, the prospective buyer is required to execute a NDA, and establish Proof of Funds (POF). Once completed, the Offering Memorandum (OM) is delivered to the interested buyers via a secured online vault. After review of the OM, the buyers are encouraged to tender a Letter of Intent (LOI). LOI’s are then presented to the property seller as they are received for consideration and negotiations. Once the price and terms have been agreed upon, a formal PSA/LSA is generated and executed, along with a deposit, and escrow is opened. Due Diligence documents are then delivered to the Buyer via the secured online vault, for the agreed upon buyer investigation period, with a targeted closing date of 14 to 21 days.
The Bid X program is best suited for the offering of commercial real estate and notes in the price range of $5 Million or more. All commercial asset types can be offered utilizing this program, such as: Office, Apartments, Retail, Industrial, and Mixed-Use on a nationwide scale. To inquire and/or register as a Property Seller for the Bid X program, please contact us at: (949) 334-2902, or email at: [email protected].