E3 Advisors Closes On $131.5 Million Sale Of Legends Outlets – Kansas City

 

Problem resolution expert E3 Advisors (E3) closes on the sale of Legends Outlets – Kansas City, a premiere destination outlet center located in Kansas City, Kansas.

On June 5, 2012, E3 was appointed receiver of Legends Outlets Kansas City by the United States District Court for the District of Kansas. On November 21, 2012, the Court entered an Order approving the receivership sale process as proposed by E3 through its counsel, Bryan Cave LLP. E3, with the assistance of  Bryan Cave and CBRE, went on to direct a receivership sale and auction process which combined pre-auction financial due diligence, a public auction and limited post-auction due diligence that was the first of its kind in this federal jurisdiction.

The process proved effective. On January 25, 2013, E3 conducted an auction of the property at the Robert J. Dole Federal Courthouse, whereby KKR Legends L.L.C., the acquisition company of Kohlberg Kravis Roberts & Co. L.P. and its partner, RED Legacy, placed the successful bid of $131.5 million. On February 27, 2013, the Court approved the sale that was successfully closed on March 14, 2013.

For more information please contact Krista Freitag at (213) 943-1374 or kfreitag@ethreeadvisors.com