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| DESIRED PROFILE: |
- Our investment goal is Value Creation which we seek to achieve either through value-added investments or ground-up development.
- Value-added investment opportunities involving repositioning, rehabilitation, redevelopment, leasing risk, or below-market contract rents are attractive.
- Urban infill opportunities which allow for redevelopment of commercial, residential, or mixed-use property types.
- Multi-tenant assets are preferred; single tenant assets will be considered.
- Commercial condominium conversion opportunities will be considered on a case by case basis.
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| PROPERTY TYPES: |
Existing Office, Industrial, Retail, Self Storage, or Mixed-Use Properties, or Land for development of these Property Types.
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| OFFICE PROPERTIES: |
- 20,000 SF or more (no upper limit).
- Office buildings, office/flex, R&D, and corporate campus properties.
- Multi-tenant assets are preferred; single tenant assets will be considered.
- “C” market placement or better – lower end properties if rehabilitation can result in “B” or better market placement.
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| INDUSTRIAL PROPERTIES: |
- 30,000 SF or more (no upper limit).
- “C” market placement or better – lower end properties will be considered if rehabilitation can result in “B” or better market placement.
- Multi-tenant assets are preferred; single tenant assets will be considered.
- Repositioning opportunities (e.g. subdividing single-tenant buildings into multi-tenant spaces, converting industrial space to showroom/retail space, converting industrial space to self storage spaces, etc.) are attractive.
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| RETAIL PROPERTIES: |
- 20,000 SF or more (no upper limit).
- “C” market placement or better infill locations are preferred – lower end properties will be considered if rehabilitation can result in “B” or better placement.
- Anchored, unanchored, local or regional tenant base.
- Projects with “dark” anchors are attractive.
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| YIELDS: |
Yields for ground-up development and value-added rehabilitation, repositioning, renovation, lease-up or turnaround deals will be considered on a case by case basis with a focus on future value and high IRR expectations.
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| MARKETS: |
Southwestern United States, with emphasis on Southern California (San Diego, Orange & Los Angeles Counties and the Inland Empire), Las Vegas, and Arizona.
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| MINIMUM DEAL SIZE: |
- $2 Million – San Diego
- $5 Million – Southern California
- $10 Million – Southwestern United States
- Deals ranging from $5 – $100 Million are preferred; there is no upper limit.
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| OCCUPANCY: |
0% to 100%
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| REPLACEMENT COSTS: |
Properties priced below Replacement Cost are attractive.
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| FINANCING: |
AMERICAN PROPERTY ENTERPRISES will close all cash or consider assuming seller’s debt.
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| DUE DILIGENCE/CLOSING: |
Able to complete due diligence and close quickly.
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| DEAL STRUCTURE: |
Acquisition in fee, or joint venture with seller or other entities.
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| UNSOLICITED OFFERS: |
Can be made if sufficient information is available. We prefer meeting with the seller to better understand seller’s objectives.
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NOTE PURCHASES: |
Note purchases from lenders will be considered. |
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| BROKER RECOGNITION: |
AMERICAN PROPERTY ENTERPRISES acts as a principal and places a high value on its broker relationships. Outside brokers are generally contracted for leasing and/or future re-sale if qualified.
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| SUBMISSION PROCESS: |
Please submit all investment offerings to all of the following:
Mike Mulvehill, Sr. Vice President, Commercial Acquisitions
858-546-7474, xt. 104
E-mail: mmulvehill@propertyenterprises.com
Tim McCain, Senior Financial Analyst
858-546-7474, xt. 102
E-mail: tmccain@propertyenterprises.com
Steve Quinn, President/Chief Executive Officer
858-546-7474, xt. 106
E-mail: squinn@propertyenterprises.com
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| MAIL TO: |
AMERICAN PROPERTY ENTERPRISES
5465 Morehouse Drive, Suite 200
San Diego, CA 92121
Phone: 858-546-7474
Fax: 858-546-7472
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