- Joined
- May 10, 2008
- Messages
- 146
Hello everyone,
This is not a solicitation of my services. My main objective for the next little while is to aquire real real estate for my own portfolio.
However saying that I am an accounting professional by trade. I have a client of mind that is seeking an equity partner. I hope this is the right forum to post this. Please see info below:
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Hi Michael,
Here is the information regarding the property:
- 4 story, 63,000 + sq. ft., 19 units (room for conversion) office building in Michigan, currently 35% vacant
- very close to waterfront
- The purchase price of the building is $1.9M the property has been recently appraised for $2.5M by CBRE Ellis
- The deal is pursuant to the buyer being able to assume mortgage @ 70% of the purchase price may increase to 75% depending on partner
Huge upside potential:
- income rental increases; cure vacancies and increase rental rates
- redevelopment of property, big tax incentives with city programs
- # of storage area available to rent
GOI: $597,000 approx.
NOI: $193,000+
Price per unit: $30.24
Price per sq. ft.: $100,000
What I am looking for:
Looking for an equity partner that can move quickly. Further financial and deal structure information can be provided for serious inquiries.
I look forward to discussing this further with you.
Regards,
Donnette Fletcher
Commercial RE Investor
Fletcher Investments
(416) 936-3664
This is not a solicitation of my services. My main objective for the next little while is to aquire real real estate for my own portfolio.
However saying that I am an accounting professional by trade. I have a client of mind that is seeking an equity partner. I hope this is the right forum to post this. Please see info below:
=================================
Hi Michael,
Here is the information regarding the property:
- 4 story, 63,000 + sq. ft., 19 units (room for conversion) office building in Michigan, currently 35% vacant
- very close to waterfront
- The purchase price of the building is $1.9M the property has been recently appraised for $2.5M by CBRE Ellis
- The deal is pursuant to the buyer being able to assume mortgage @ 70% of the purchase price may increase to 75% depending on partner
Huge upside potential:
- income rental increases; cure vacancies and increase rental rates
- redevelopment of property, big tax incentives with city programs
- # of storage area available to rent
GOI: $597,000 approx.
NOI: $193,000+
Price per unit: $30.24
Price per sq. ft.: $100,000
What I am looking for:
Looking for an equity partner that can move quickly. Further financial and deal structure information can be provided for serious inquiries.
I look forward to discussing this further with you.
Regards,
Donnette Fletcher
Commercial RE Investor
Fletcher Investments
(416) 936-3664