8% Current Pay/12% Coupon Office Portfolio Acquisition

October 24, 2016

Being Acquired at near a 7% Cap Rate with Below Market Rents

We exclusively represent a Dallas, Texas based owner/operator who is seeking a $45 million Preferred Equity investor to capitalize the acquisition of a 1.3 million square foot office portfolio located in Dallas, Texas.

The proposed capital stack includes a $198 million First Mortgage, $45 million of Preferred Equity and $27 million of Sponsor equity.

The Sponsor is a full service real estate development and management firm headquartered in Dallas, Texas. The principals possess real estate ownership, operational, and development experience. The Sponsor possesses the unique management combination of hands on real estate entrepreneurial expertise combined with a long standing institutional pedigree and fiduciary responsibilities.

• The Sponsor has a relationship with the seller making this a truly outstanding “Off-Market” opportunity. Sponsor is also a tenant in one of the buildings.
• 96% occupied, 3 institutional quality office properties totaling 1.3 million square feet.
• Portfolio cost is approximately 55% below replacement cost.
• Being acquired at near a 7% Cap Rate.
• In-place rents estimated to be 12-15% below market rents.
• No tenant represents more than 8% of the aggregate portfolio square footage, minimizing exposure to a single firm or industry.

If you would like to receive additional information on this opportunity, please call me at (212) 716-5611.

Michael J. Campbell | Partner
212.716.5611 Office
mjc@carltongroup.local

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