Preferred Locations
So CA and No CA, Silicon Valley, Metro Phoenix and will consider other CA markets, Metro Denver, WA and OR on a case by case basis.
Property Type
Office properties that are fundamentally sound in terms of basic ‘bones”. We look for “fixable problems” through which sound judgment and fresh capital can enhance market appeal and achieve leasing success that optimizes value.
Examples of Target Opportunities
- Properties with vacancies or rollover risk
- Properties with low rent to market rent.
- Properties that can be re-renovated/repositioned to achieve higher rents and or uses.
- Creative Office conversion opportunities
- Hi-Tech, Back Office, Heavily Parked office markets like SE Valley Phoenix
- Data Center Conversion or Data Center aspects
- Properties with deferred maintenance.
Price and Terms
- $5 to $100 million, can be smaller or larger given deal dynamics
- No financing contingencies
- May invest all cash; cash above mortgage; or joint venture with existing ownership
Submission Information
- Detailed Rent Roll
- Site plan and floor plans if multi-story
- Historic Operating Income & Expense Statements if available
- Aerial Photos
- Property Photographs
Preferred Locations
So CA and Metro Phoenix and will consider other CA markets, Metro Denver, WA and OR on a case by case basis.
Property Type
Retail properties that are fundamentally sound in terms of path of travel, access, population density and income. Design characteristics such as good view corridors, building depths, pleasing functional aesthetics with good signage opportunities should be manifested in existing conditions or constitute sufficiently “good bones” that cost effective solutions might achieve a reasonable measure of changes that will satisfy desirable tenants.
Examples of Target Opportunities
- Established areas with dense populations and steady growth potential
- Markets with barriers to entry and some measure of opportunity to satisfy some unmet demand
- Median household incomes over $60,000 per year
- Necessity-based, convenience and quick service retail properties
- Low Contract Rent to Market Rent, Low site coverage ratios, second-generation discount tenants in a market with rising incomes and consumer demand or other opportunistic changes in customer base
Investment Strategy
- Identify properties that have potential to upgrade tenant mix, functionality or architectural appeal, or simply constitute solid design and location with modest rent structure that ensures sustainable rents with room for room for incremental rate growth.
- Value-Added opportunities offering potential near-term revenue improvement that can predictably result from re-positioning the tenant mix, thoughtful solutions to existing vacancies, building expansion space for existing or new tenants, building out pads or updating/upscaling architectural materials and features, improved signage/visibility.
- Leverage investigative skill sets that diminish unqualified risks, clarify tenant solutions, quantify costs and facilitate quick close with debt and equity capital whose concerns have been mitigated by thorough and exacting due diligence efforts that are as manifestly transparent and objectively verifiable as possible.
Size Criteria
Deal size depends upon the potential for incremental value. Stabilized deals likely require greater than 20,000 sf unless redevelopment or ground-up development is to be undertaken.
Price and Terms
- $5 to $100 million, can be smaller or larger given deal dynamics
- No financing contingencies
- May invest all cash; cash above mortgage; or joint venture with existing owner
Submission Information
- Detailed Rent Roll
- Site Plan / Survey of Center
- Tenant Sales History (3-years preferred) if reported
- Historic Operating Income & Expense Statements
- Area Demographics for 1-2-3 mi radius or other appropriate stats
- Aerial Photos of subject and immediate trade area with competitive inventory noted
- Mortgage Terms for debt to be assumed (if any)
- Real property tax bills (2 years preferred)
- All CC&R’s affecting the property
- Photographs of the Center
- ARGUS
Preferred Locations
So CA and Metro Phoenix and will consider other CA markets, Metro Denver, WA and OR on a case by case basis.
Property Type
Industrial properties that are fundamentally sound in terms of basic ‘bones”. We look for “fixable problems” through which sound judgment and fresh capital can enhance market appeal and achieve leasing success that optimizes value.
Examples of Target Opportunities
- Properties with vacancies or rollover risk
- Properties with low rent to market rent.
- Properties that can be re renovated/repositioned to achieve higher rents and or uses.
- Properties with deferred maintenance.
Price and Terms
- $5 to $100 million, can be smaller or larger given deal dynamics
- No financing contingencies
- May invest all cash; cash above mortgage; or joint venture with existing ownership
Submission Information
- Detailed Rent Roll
- Site plan
- Historic Operating Income & Expense Statements if available
- Aerial Photos
- Property Photographs