O'Fallon, Missouri, USA

Client Objectives:

• The client, Lutheran Church Extension Fund, originally purchased the 43.39 acres of land with the intent of developing a future Lutheran church or school. However, the organization later decided to pursue a different direction and sought to sell the property.
• Timing was the seller's primary concern. Due to the need for additional due diligence, the property was temporarily taken off the market to allow for a thorough review.

Transaction Profile:

• There was no urgency to complete the sale, giving the seller the flexibility to be selective and remain focused on their key objectives: ensuring the property would be put to its best use and that the pricing reflected its true market value. These favorable conditions allowed time to identify the right buyer without compromising priorities.
• Mastercard, which already operates a neighboring facility across the pond from the site, was identified as a potential buyer through its broker. However, Foundry’s Mission Property Group was not informed that Mastercard was the buyer until a few weeks before closing.
  

SOLUTION:

• Due diligence was primarily handled by the broker representing Mastercard, including reviews of residential, commercial, and wetland considerations. Many of these concerns were easily addressed due to the nature of the energy-saving project.
• The property was purchased by Mastercard, which plans to build a solar array on the site to support the energy needs of its Global Technology and Operations Center, located on an adjacent property. The project is part of Mastercard’s global initiative to reduce carbon emissions to net zero by 2040.

PARTICIPANT & INFORMATION PROVIDED BY

• Matt Messier, SIOR