Situation
A state agency wanted to purchase a data center it had been leasing, but the proposed deal presented several challenges. Securing the state’s authorization of funds further complicated the deal. Our experienced team skillfully navigated the complex state processes and rules governing this type of transaction. Approvals were secured and we negotiated a mutually acceptable purchase price—closing the sale within a month.
Result
The $22.5 million deal provides our client with additional capital to invest in new projects and provides the state with a valuable state-owned asset for storing and managing sensitive government data.