CHALLENGE
The congregation and leadership at Goler Memorial AME Zion Church reached out to Linville Team Partners to help put together a real estate strategy. They owned their original fellowship hall (80+ years old) as well as a more recent 2007-built enrichment center that, over years of development, found itself located right in the heart of the Innovation Quarter in downtown Winston-Salem.
ACTION
Because of all the public and private development in the downtown Winston-Salem area it made sense for the congregation to evaluate its real estate holdings and determine if a sale would help it leverage its assets in order to buy a newer, larger, and more well-maintained fellowship hall. With the help of LTP, they were able to get construction bids for the renovation of the existing facility, construction bids for the proposed build of a new facility, as well as a broker opinion of value on their existing sanctuary and fellowship hall. Over the course of two years, the assets were marketed for sale and ultimately a buyer was procured for the enrichment center at a price that was very favorable.
RESULT
With the proceeds of the sale of the enrichment center, the congregation was able to identify a new facility which LTP also assisted them find, negotiate, inspect, and purchase. This new facility was substantially larger, better maintained, and was purchased directly from the lender, resulting in a heavily discounted price. The team continues to help Goler Memorial AME Zion Church with the real estate needs: an excellent example of how Linville Team Partners acts as partners in each relationship, putting emphasis and priority on trusting, long-lasting relationships over short-term transactional outcomes.