I have a buyer that is looking to move 1031 money. We have presented several hotel deals to them that are under consideration and they are now looking specifically at shopping centers, malls and other retail purchases.
MUST BE INCOME PRODUCING INVESTMENT - NO LAND
There is about $300-$350 million in money left to invest. Each shopping center must be a minimum of $10 million so we cannot present deals less than $10 million. Again please don't contact us with deals less than $10 million. The actual cap rate that they want is minimum 9%. We are looking at deals anywhere in the state of Florida (primary and secondary markets). NO LAND LEASES.
They have also showed interest in marinas and retirement homes. .
Joint ventures may also be a possibility but only if the developer is committed to completion and presales are at or exceed 60-70%.
Yes, these people are real. The primary is a personal friend. There are hundreds of deals being presented to these people across the US but we have been screened and have moved to the second level as a trusted source so we can get your deal before the board.
Time is running out on their 45 days to identify so we need to present a nice package with financials soon. Confidentiality agreement no problem, of course.
Please email me or call my assistant RT at 850-233-5336 or his cell at 727-804-5642.
Replies
11
Beach Fanatic
I would absolutely love to see what winds up meeting this criteria, the 9%cap rate (which I too would consider the prudent minimum) appears to be twice the rate of what is given for advertised local properties. Admittedly the asking price on some these "investments" seems pie in the sky. Good for you that looks like it could be a big deal if there is product.
directionally challengedAuthor
Yeah you're right EB, whoever thought we couldn't find property expensive enough for our client in this market :rofl:
Beach Fanatic
I have a buyer that is looking to move 1031 money. We have presented several hotel deals to them that are under consideration and they are now looking specifically at shopping centers, malls and other retail purchases.
MUST BE INCOME PRODUCING INVESTMENT - NO LAND
There is about $300-$350 million in money left to invest. Each shopping center must be a minimum of $10 million so we cannot present deals less than $10 million. Again please don't contact us with deals less than $10 million. The actual cap rate that they want is minimum 9%. We are looking at deals anywhere in the state of Florida (primary and secondary markets). NO LAND LEASES.
They have also showed interest in marinas and retirement homes. .
Joint ventures may also be a possibility but only if the developer is committed to completion and presales are at or exceed 60-70%.
Yes, these people are real. The primary is a personal friend. There are hundreds of deals being presented to these people across the US but we have been screened and have moved to the second level as a trusted source so we can get your deal before the board.
Time is running out on their 45 days to identify so we need to present a nice package with financials soon. Confidentiality agreement no problem, of course.
Please email me or call my assistant RT at 850-233-5336 or his cell at 727-804-5642.
Cork,
I sent RT info on the sporting centers. Did he talk with you about these?
directionally challengedAuthor
Cork,
I sent RT info on the sporting centers. Did he talk with you about these?
Bobby, I know he met with your guy today. I think CAP was low but keep looking cause they haven't closed out the selections yet. We've got 3 possibles but there's so many deals before them and so much cash that I'd like to have about 10 deals in front of them.
They're CAP is up to 9% and they are specifically seeking shopping centers. They're trying to get something closed in Las Vegas but there's plenty more money if we could just find the properties. Email me if you hear of anything.
Beach Fanatic
Amazing how hard it is to find a good cap rate! 
Beach Fanatic
can't imagine any center in the panhandle having a 9 rate...6.5 is the going rate in so fla where there is an actual population employed in jobs other than service and professional buyers involved...
Beach Fanatic
can't imagine any center in the panhandle having a 9 rate...6.5 is the going rate in so fla where there is an actual population employed in jobs other than service and professional buyers involved...
They seem to be finding it, just not here.
Keep trying! A motivated buyer and I can not find the right deal!!!! Ouch!Banned
sounds like the perfect developer for WALPAC
Walton County Performing Arts Center
rehearsal, performance, office, classroom and theater space for the arts.
ask about the plot of land north of the gas station at the westernmost 30a intersection of 98.
more mediocre shopping is not a good investment - unless you're building for a town of two-dimensional, morons. the area is drowning in it.
good luck.
Walton County Performing Arts Center
rehearsal, performance, office, classroom and theater space for the arts.
ask about the plot of land north of the gas station at the westernmost 30a intersection of 98.
more mediocre shopping is not a good investment - unless you're building for a town of two-dimensional, morons. the area is drowning in it.
good luck.
Edited
Beach Fanatic
sounds like the perfect developer for WALPACHelluva sales pitch you made there.
Walton County Performing Arts Center
rehearsal, performance, office, classroom and theater space for the arts.
ask about the plot of land north of the gas station at the westernmost 30a intersection of 98.
more mediocre shopping is not a good investment - unless you're building for a town of two-dimensional, morons. the area is drowning in it.
good luck.
Beach Fanatic
sounds like the perfect developer for WALPAC
Walton County Performing Arts Center
rehearsal, performance, office, classroom and theater space for the arts.
ask about the plot of land north of the gas station at the westernmost 30a intersection of 98.
more mediocre shopping is not a good investment - unless you're building for a town of two-dimensional, morons. the area is drowning in it.
good luck.
They are looking all over the country. If the WALPAC was built and had a cap rate of 9% plus this would be a good fit.
Beach Fanatic
Bobby, I know he met with your guy today. I think CAP was low but keep looking cause they haven't closed out the selections yet. We've got 3 possibles but there's so many deals before them and so much cash that I'd like to have about 10 deals in front of them.
They're CAP is up to 9% and they are specifically seeking shopping centers. They're trying to get something closed in Las Vegas but there's plenty more money if we could just find the properties. Email me if you hear of anything.
I hooked RT up with the guy in Tallahassee. Keep me posted. Thanks again.
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