Mount Zion Baptist Church: Keystone Ave Property Sale Success
CHALLENGE:
Mount Zion Baptist Church, located at the strategic intersection of I65 and Keystone Ave for over 70 years, faced the significant decision of selling their facility due to its size not meeting the church’s needs.
ACTION:
To address the complex challenge of the land being more valuable than the structure and the need for a speedy transaction, a unique strategy was employed. Knowing the extended due diligence required by developers, a land banker was introduced into the transaction, facilitating a quick sale with cash and allowing for a subsequent deal with the intended developer.
RESULTS:
The sale to a land banker, who plans to sell the site to a developer for heavy commercial use within 12 months, underscores the strategic facilitation of this complex transaction.
The property was successfully listed in May 2023 and closed by March 2024 under all-cash terms with a 30-day closing timeframe.
TESTIMONIAL:
“As the Lead Pastor of Mount Zion Baptist Church, the decision to sell our beloved church was made with heavy hearts but clear minds, understanding our congregation’s evolving needs. The professional guidance and strategic approach of JDM Partners were instrumental in navigating through the complexities of our unique situation. Their innovative solutions, particularly introducing a land banker to expedite the sale, not only met our needs for a swift transaction but also respected the legacy and value of our property. We are grateful for their expertise, commitment, and respectful handling of this pivotal moment in our church’s history.”
-Mike Stephens, Lead Pastor
