March 9, 2017
We are the exclusive advisor to a highly successful property owner/operator who is interested in you providing $185 million of preferred equity (80% LTV) to recapitalize a heavily cash flowing 5 million sf office, industrial and retail portfolio located in prime locations throughout the Northeast and Southeast United States.
This investment opportunity benefits from the following:
· 20 institutional quality office, retail and industrial properties located in prime locations across the Northeast and Southeast U.S.
· 93% occupancy providing desirable in-place cash flow.
· In-Place NOI of approximately $51 million.
· Your last dollar is at an attractive basis of $124 psf.
· There is significant upside as below market rents roll to market; portfolio-wide, in-place rents are 10% – 15% below today’s market rents.
· Diverse tenant mix minimizing exposure to any single firm or industry.
· 9% Debt Yield and 1.5x DSCR over the 5 year hold period.
The Sponsor is a highly experienced owner/operator delivering attractive risk-adjusted and tax efficient returns for their investors. Following an initial focus on opportunities in the Northeast, the firm expanded its reach into the Southeast, with the opening of a Nashville office, and subsequent acquisitions in Tennessee, Georgia, North Carolina, and South Carolina.
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