Strategy 5 and Carl Walker Inc. were engaged by the City of Billings to conduct a feasibility and marketing study to determine the potential for privatizing one of the City-owned garages. The team worked with existing user groups including a major bank headquarters, office complex, and hospital to craft a strategy that paved the way for a successful sale.
A 10-year cash flow analysis was completed, along with capital cost estimates and operational forecasts under the proposed private ownership scenario. These materials provided invaluable information for key prospective buyers. The garage opportunity was packaged by Strategy 5 and processed through the City’s competitive bid system, utilizing a Request for Qualifications (RFQ) and Request for Proposal (RFP) framework. The garage was sold and the funds used a primary financing tool for a new City garage located closer to the heart of downtown Billings.
The Park 4 Garage in Billings serves the First Interstate Bank headquarters building, Tri-Western Office complex, and the Billings Medical Center. These tenants represent prospective partners in a privatization strategy prepared by the Strategy 5 / Carl Walker team