Bakken Oil Region Employee Housing Facility

$8,890,000 - Watford City, ND

Other

Challenge
Best Approach to Maximize Value - Asking Price vs. Competitive Bidding

Solution
Based on the amount of investment dollars flowing into the Bakken oil region, Sheldon Good & Company recommended the use of a live auction to maximize price through competitive bidding. An international marketing plan was implemented with advertising in The Wall Street Journal, New York Times and Financial Times

Results

  • Prospective buyers included New York-based private equity firms and Middle East Sovereign Wealth Funds.
  • Sold for $8,890,000

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