1. No less than 50% occupancy (if existing building)
2. High population density and well located
3. Buildings structurally sound
4. Motivated Seller
5. Retail, office, industrial or multi-tenant for rent, urban infill land
6. Class B or better
7. Some national tenants
8. Some value-add component such as re-tenanting, expansion, excess land for expansion, lease-up, below market rents, mis-management, above market vacancy, or redevelopment opportunity.
The following is a list of minimum information required to evaluate a property offering:
1. Current Rent Roll
a. Lease commencement and rent start date
b. Initial lease term maturity date
c. All options
d. Rental rate PSF
e. Escalations (how much and when)
f. Tenant Name
g. Lease Guarantor (if applicable)
h. Lease type (net, gross, or modified gross)
2. Year to date property profit and loss statement (P&L)
3. Last year Profit and Loss Statement
4. Property Owner and reason for sale (lender forced, etc.??)
5. Declaration or Easement Agreements which materially affect the property
6. Site Plan
7. Address
8. Demographics
This information will allow us to completely underwrite the opportunity and provide quick feedback and provide an offer to purchase (if it meets our underwriting standards). However, more information will be required during due diligence including but not limited to title, survey, leases, environmental and engineering reports, etc.
