Unlocking Value, Creating Leverage

Calgary Herald Building
  • Postmedia Network
Services Provided
  • 391,590 sq. ft.
Cresa Office
  • Media and Publishing

client objectives and results

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The Cresa team developed a highly strategic approach to six different target market groups, including Industrial REIT’s, Office REIT’s, Diversified REIT’s, Owner Users, Private Equity and Merchant Developers.

In the first 100 days of the listing, Cresa approached nearly 100 prospects from these groups with market data, market based evidence, and rationale tailored to their business models, demonstrating acquisition value, accretive future value, delivered in a manner consistent with the objectives of Postmedia. These objectives related to execution on value, timing and were measurable by interim milestones, including contacts, expressions of interest, offers, negotiation & closing. A timeline of 18 months was established to effect a sale by December 30, 2022.

Through a disciplined execution of Cresa’s dynamic and tailored process, numerous prospective purchasers were identified, five of which submitted accepted offers. The ultimate purchaser, an owner user, was identified, submitted their offer, removed conditions and closed within two weeks following the 18-month targeted timeline. Throughout the process, Cresa was in constant communication with Postmedia, and with the marketplace, and in many cases, procuring backup offers to provide Postmedia with security and leverage in all negotiations.

Cresa’s design and execution of a deliberate, tailored, strategic process resulted in the successful disposition of The Calgary Herald, unlocking, and delivering value to Postmedia, exceeding their corporate objectives with respect to timing and achieved price.