Accomplish the Impossible
Featured Hilco Real Estate Sales Clients
Family Dollar
Following the merger of Family Dollar and Dollar Tree, the company identified numerous competing store locations situated in proximity across the US. The decision was made to divest company-owned properties, and Hilco Real Estate Sales (HRE) was subsequently engaged to facilitate the sale of 27 assets spanning 16 states.
During the three-month marketing campaign for these properties, HRE garnered significant interest, receiving over 1,000 inquiries from prospective buyers. This robust response generated multiple offers for each asset. As a result of the carefully executed sales process, 24 properties were successfully sold, while the remaining three were donated to local municipalities.
The resounding success of the initial tranche of asset sales has led to an ongoing partnership between Family Dollar and HRE. Currently, HRE is marketing two additional properties on behalf of the company. Moreover, our lease advisory team is providing strategic support in restructuring lease terms for all leased properties within Family Dollar’s expansive US portfolio.
Fifth Third Bank
Hilco Real Estate Sales (HRE) was engaged by the owner and appointed by the bankruptcy court to serve as the sales agent in a §363 bankruptcy sale. The real estate included a 6,000 SF free-standing building with convenience store, liquor store with drive-through, and fuel station on a 7-acre site. HRE’s auction team facilitated an open-outcry auction with a regional marketing program, targeting truck-stop and service station players in the market. In response to HRE’s efforts, over 650 inquiries were received and the property sale price achieved was more than double the secured lender’s credit bid amount.
Hostess Brands
When Hostess Brands announced it was shutting down its business and selling all assets, Hilco Real Estate Sales (HRE) was appointed exclusive real estate advisor early, initially valuing all 260 owned locations. After 120 were sold as part of a bulk brand/asset purchase, HRE handled the sale of 140 diverse remaining real estate assets across 34 states. Implementing a highly innovative and effective marketing campaign, 6,000+ prospective buyers were generated within 90 days, which led to 400+ offers. Ultimately, the portfolio (real estate, machinery and equipment as well as 10,000+ trucks) was sold in a bulk transaction at auction to the stalking horse bidder, which yielded $62+ million in proceeds to the estate.
O’Charley’s Restaurant & Bar
Restaurant Growth Services, LLC, the parent company of O’Charley’s Restaurants, partnered with Hilco Real Estate Sales (HRE) to execute the divestiture of 10 company-owned, non-operating restaurant sites spanning eight states. HRE developed a strategic, nationwide marketing campaign targeting qualified operators, developers and investors, focusing on those best suited to maximize the potential of each property.
Through an aggressive and targeted approach, HRE’s marketing efforts generated over one hundred offers, providing Restaurant Growth Services with an extensive and expedited liquidity solution. To date, HRE has successfully sold or secured contracts for nine of the 10 locations, demonstrating their expertise in facilitating complex, multi-state transactions in the restaurant industry.
Ruby Tuesday
Ruby Tuesday engaged Hilco Real Estate Sales (HRE) to facilitate the sale of 20 owned, non-core locations, both restaurants and development sites across 11 states. The team implemented an aggressive national campaign to identify logical buyers, operators, developers and investors throughout the country, culminating in a bid deadline for offers. Response to HRE’s marketing efforts was overwhelming, generating over a million views and several offers on each site. HRE was successful in liquidating the entire portfolio on Ruby Tuesday’s behalf.
Service King
Beginning 40+ years ago in a single body shop in West Dallas, Texas, through acquisition and expansion, Service King has steadily grown into the premier collision repair provider of choice in the U.S., with over 330 locations across 24 states. The company sought to explore a sale-leaseback opportunity, and HRE was retained to perform an assessment of the company’s 37 owned properties. Based on HRE’s portfolio analysis, 21 of the owned properties were marketed to a targeted, qualified group of investors. In less than 60 days, HRE coordinated full due diligence on each site, marketed the portfolio, generated offers from six groups, conducted a best and final round, and closed on the portfolio with a major institutional buyer for proceeds in excess of $66M. The results far exceeded the Seller and Sponsor’s expectations, supporting Service King’s financial objectives and ongoing business operations.