September 9, 2020
The Carlton Group has been exclusively retained to arrange approximately $22 million of Joint Venture Equity for the acquisition of a value-add suburban office portfolio in New Jersey.
· Over a 5-year investment period, the projected returns are a 12% average cash-on-cash return, a 19% IRR and a 2.32x Equity Multiple.
· Acquisition price below current owner’s basis.
· The suburban office portfolio is comprised of approximately 500,000 square feet and is 80% leased with exceptional tenant retention & investment grade tenant roster.
· The property is located in a premier and affluent suburban community with exceptional access to transportation, employees, and amenities
· Sponsor has a long and successful track record of acquiring and successfully managing similar real estate properties including two within 2 miles of the Portfolio.
For more information, please contact:
Michael J. Campbell | CEO
THE CARLTON GROUP
o.212.716.5611 | m.201.232.5244
360 Madison Avenue, New York, NY 10017Previous Next
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