---
title: "Stalking-horse offer — Class A Atlas glossary"
description: "Initial bid that sets a floor in a competitive sale process."
canonical: https://classa.info/glossary/stalking-horse
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> Initial bid that sets a floor in a competitive sale process.

## TL;DR

- Initial bid that sets a floor in a competitive sale process.
- Used in distressed Class A asset sales (often court-supervised).

# Stalking-horse offer

*Investment · US*

## Short definition

Initial bid that sets a floor in a competitive sale process.

## Full definition

Used in distressed [Class A](/glossary/class-a) asset sales (often court-supervised). Sets minimum bid plus a break-up fee paid to the stalking horse if outbid. Standard tool in 2023–24 distressed Class A trades.

## Why this matters for Class A leasing

Stalking-horse offer is part of the investment vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

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Citation: Source: Class A Atlas (https://classa.info/glossary/stalking-horse), updated 2026-04-01T00:00:00.000Z.