Signal Hill Building Sold

I am pleased to announce that on Friday, April 30^th, 2021, the sale was completed.  The sale culminates a multi-year effort initiated in 2019.  Over the past several months, we were very engaged in a back and forth negotiation process to include assisting the buyer’s bank and the title company with their due diligence processes.

There are many people to thank for getting us to this point to include, of course, the CTCI Officers, Directors and contributors for their effort in the original 1997 purchase, to past and current CTCI Boards for their divestiture initiative.  I also want to thank Dean Haney, our CBRE Real Estate Agent for his guidance.  The sale price was $1M, less commission and other fees.  Further refinement of that number will be provided by our CTCI Treasurer, John Kledis, CPA.  Finally, the Board has formed an investment committee, of CTCI members, and developed an investment policy/plan to ensure we prudently invest proceeds from the sale.