Eli Hanacek has over 20 years of experience in the multifamily industry. Since joining CBRE Capital Markets in Seattle, he has been involved in over $12.5 billion in transaction volume, comprised of 215 properties and over 50,000 units.

In 2020, despite ongoing market stress from the pandemic, Hanacek was able to execute one of the most significant transactions of his career. The Western U.S. Core Plus Portfolio consisted of 11 multifamily assets in two states with a blend of primary and secondary market locations, asset quality and value-add upside. To accomplish a successful transaction, Hanacek and his team engaged in a broad marketing effort, offering the properties as one portfolio, sub pools and individual assets.

Due to the complexity of the portfolio and transaction structure optionality, it required a unique approach to organizing the market asset-by-asset to unlock value on each. Additional complexity was navigated as the impacts of COVID-19 varied drastically by property.

Investors were engaged early in the process to match their specific strategy with assets and markets. Hanacek and his team set a formal call-for-offer date and organized offers by asset, portfolio and sub pools, ranking investors based on surety of close, pricing and terms. They received over four dozen offers in aggregate and ran two final and best offers to finalize the right match between buyer and assets.

In the end, Hanacek and his team closed with four separate escrows on 11 assets in two states. The transactions were a success for the seller and buyers alike. Note that four of the 11 properties closed in January 2021. They are not included in Hanacek's 2020 deal volume.