Loren Data's SAM Daily™

SAMDAILY.US - ISSUE OF MARCH 08, 2024 SAM #8137
SPECIAL NOTICE

R -- SSJ -Direct Real Estate Management - Whitestar Advisors

Notice Date

3/6/2024 10:12:43 AM
 

Notice Type

Justification
 

NAICS

531390 — Other Activities Related to Real Estate
 

Contracting Office

PENSION BENEFIT GUARANTY CORP WASHINGTON DC 20005 USA
 

ZIP Code

20005
 

Solicitation Number

WhiteStar21C0003
 

Archive Date

03/21/2024
 

Point of Contact

Marius Morgan, Phone: 2027930321, Mandy Matthews
 

E-Mail Address

morgan.marius@pbgc.gov, matthews.mandy@pbgc.gov
(morgan.marius@pbgc.gov, matthews.mandy@pbgc.gov)
 

Award Number

16PBGC21C0023
 

Award Date

03/01/2024
 

Description

Pension Benefit Guaranty Corporation (PBGC) Contract 16PBGC-21-C-0023, WhiteStar Advisors, LLC (WhiteStar) expires on February 29, 2024. The subject contract is a sole source contract to manage and liquidate the remaining direct real estate properties received from a terminated and trusted plan.� As of the date of this docuemnt, there is one property left on the contract and the vendor is actively looking for buyer. As of February 14, 2024, there is one remaining property that has not been sold and one LLC not dissolved.� Therefore, CID has a current need to add two option periods for this contract.� Without these option periods, this property will risk a break in services provided by our vendor including the oversight and day-to-day management of the property.� The unsold property was previously owned by Gulf Publishing Company, however since the bankruptcy in April 2020, the property has been vacant and been on the market for approximately 3 years.�� In June 2023, Whitestar listed the property on an auction site but received no bidder. After the auction, the listing agent continues to market the property for sale.� Despite continued efforts to engage the three previously interested parties from the auction, none have expressed serious intentions to move forward. �However, in January 2024, the broker received several inquiries, with one notable interest coming from a hotel and restaurant supply group.� They are scheduling a tour of the property in the upcoming weeks. In addition, WhiteStar also approached the City of Gulfport to see if they were interested in the property and was told not at this time due to budgetary constraints. Overall, the following are the main reasons why the property is still unsold: (1) The property was built for a specific use and has an atypical layout which can only attract certain buyers. (2) Inside the building still has a lot of heavy printing press machines which require additional clean-up cost for the potential buyers and (3) current market high interest rate.
 

Web Link

SAM.gov Permalink
(https://sam.gov/opp/2f3f0a4bd30a4bd1a1083c255646578a/view)
 

Place of Performance

Address: Boca Raton, FL 33487, USA

Zip Code: 33487

Country: USA
 

Record

SN06987291-F 20240308/240306230045 (samdaily.us)
 

Source

SAM.gov Link to This Notice
(may not be valid after Archive Date)

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