All Forum Posts by: Account Closed

I would suggest working towards getting an acquisition analyst role into a regional Private Equity that buys multiple asset class. 

No you shouldn't. I would make a rare exception for a really nice finished office space. If you end of paying for the mezz SF for some reason, make sure the deal works even with excluding that SF at the exit. A lot of buyer will not pay for that. 

You use local brokers who specialize in your asset class. 

@Jared Haxton, have you actually underwritten this deal yet? 

Chris, send me a dm. I will send you an example investment offering deck we use. 

Geoff, that is all I have been doing for last 15 months - Sourcing, underwriting, acquiring, and operating flex industrial assets. Happy to share what I know or answer any specific questions you have.

When you are a partner in or buy an interest in the LLC that holds the asset, you get shares of the voting and distribution rights; the %s of these two rights can be different from the ownership or equity contribution %s. However, structing it on a pro rata basis of the equity contributions of each partner is the easiest way for a deal with 4 partners who are putting 25% equity each.  

Usually, co-GPs will need to sign on non-recourse loans. 

@Dan V., congrats and good luck. Smaller flex units are easier to rent and gets you higher rents but may see higher turnover. Multi tenancy will force you to structure your leases as Full Service vs NNN, so they are more management intensive than a bigger space with one tenant.

@Chris Seveney, when an acquisition is underwritten, cost of 3rd party vendors, such as management, recordkeeping, taxes, and other required services need to be included. If deals work with all those costs, all one need to do is reach out to a few good providers of the needed services and pay for them. One do not necessarily need to have these abilities inhouse. 

I have seen a sponsor who has done dozen plus deals not been able to raise money for a deal as well. A good deal raises money; experiences definitely makes it easy.