Commercial strip center divesting the ownership
I recently closed on a commercial strip in Highly affluent part of the central jersey with my purchase price at 9 cap. Though, it doesn't have national tenants, it has mom-and-pop and it's at a traffic light intersection. Most of the tenants are 10yr+ leased and the reason why I got at high price because of the fact that it's not very good looking. I love this property and demographics and high traffic flow, however, I would like to see if I can divest the property at 7 cap and retain 51% of ownership and give away 49% ownership to other partners. Is this something doable? If so, what are the legal complications? I do have a mortgage of close to 70% of my original purchase price (around 2 million) I paid an year ago.