November 17, 2010
The Silver Group Brokers Three Social Security Buildings

Northern California based, The Silver Group proudly announces the recent sale of 3 office buildings, 100% leased to the United States of America for use as regional Social Security Administration facilities. The properties were developed in 2008 and 2009 and were located in Beaumont, San Antonio and Waco, Texas.  Each building was developed with steel and block construction and efficient HVAC systems. The buyer put together a portfolio of 15 government buildings and hoped to raise equity via a bond offering. Following a comprehensive due diligence period, the buyer was unable to raise the required funds on Wall Street and ended up assigning their contracts to a large REIT. After a 30 day extension and increased non refundable deposits, the transactions closed.  Barry Silver was the only broker in the sale.

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