Houston Independent School District

Challenge

The Houston Independent School District (HISD), in an effort to cut costs, wanted to dispose of surplus school facilities.

Solution

HISD, with the assistance of ARVO Realty Advisors, decided to sell the properties by using the Sealed Bid Auction approach in order to attain the highest sale price possible.

1) Strategic planning:

  • Assembled the appropriate team of professionals and consultants
  • Analyzed and evaluated property
  • Developed a sealed bid auction strategy
  • Developed a marketing strategy

 

2) Marketing the property:

  • Developed marketing material that focused on the property’s unique qualities
  • Solicited buyers deemed most likely and capable to consummate the transaction
  • Conducted property tours

 

Benefit

Solicited several qualified, competitive offers from developers and users in a challenging market, resulting in best value of assets achieved for HISD.