Hinge Closes Real Estate Sale in Colorado Springs
Hinge is pleased to help a client in the disposition of a dark child care center in Colorado Springs, Colorado. This property was the home of a national child care operator for over 30 years, but in recent years fell on hard times as demographics changed and eventually the operator closed the school at the termination of the lease. Failing to find another operator on their own, and failing to identify an investor to buy the school, the owner turned to Hinge to help them with this disposition. Hinge worked with the constraints of the seller and the asset itself-last asset in a pool, no seller financing available, no appetite for extended escrow while a new license was obtained, limited parking, and deferred maintenance as a result of tenant woes-and identified types of buyers who might make a play for the asset. These included local independent child care operators, church and faith based groups, and medical users. In the end, Hinge procured an independent medical facility operator who intends to convert the asset into a residential medical care facility.
While Hinge is the early childhood education expert, think of us also as a resource when an aging childcare facility needs to be reinvented for its next life!