Property Types:
Core real estate assets including office, multi-family, nursing homes, anchored retail and industrial
Geographic Focus:
Mid-western markets with a focus on Chicago, Cleveland, Columbus and Pittsburgh, and their surrounding areas
Transaction Size:
$5.0 million to $50.0 million (can execute on larger portfolio transactions)
Transaction Types:
Income producing, multi-tenant, commercial properties with valuations based on in-place net operating income. Will consider stabilized properties as well as value-add (operational, occupancy, physical or financial issues) opportunities
Target Leverage:
65% Loan-to-Value (willing to assume existing, non-recourse debt)
Return Expectations:
Average a 9 % current cash-on-cash return (pre-tax). All-in return requirements determined on a case-by-case basis
Transaction Structure:
Prefer 100% direct equity ownership but will consider joint-ventures, co-sponsorship and other financial structures
Due Diligence/Closing:
Able to complete studies and underwriting as well as close transactions within standard industry timeframes