Looking for real estate investors in New Brunswick
- Thread starter Pabs
- Start date
- Joined
- Mar 30, 2012
- Messages
- 4
Hi,
I am an investor from Toronto investing in Moncton, NB. Great place to invest right now. I am here in Moncton right now if you wanted to meet up and discuss. Feel free to drop me a line at 416-546-3733.
What type of investment are you looking into--single family? multiplexes? commercial?
If you are interested at all in commercial, I have a larger office building in Moncton under contract right now at a 10% cap rate. It's a private sale. I am looking for investment partners. If you or someone you know may be interested, below are some quick details:
ABOUT THE PROPERTY
I am an investor from Toronto investing in Moncton, NB. Great place to invest right now. I am here in Moncton right now if you wanted to meet up and discuss. Feel free to drop me a line at 416-546-3733.
What type of investment are you looking into--single family? multiplexes? commercial?
If you are interested at all in commercial, I have a larger office building in Moncton under contract right now at a 10% cap rate. It's a private sale. I am looking for investment partners. If you or someone you know may be interested, below are some quick details:
ABOUT THE PROPERTY
- 26,000 sq. ft. commercial office building. Class B Asset
- 29 office suites + 2 meeting rooms + 1 boardroom
- Fully-occupied except for space occupied by owners (1 office suite and 1 basement suite)
- Accepted offer at $1.3 million
- Appraised by Altus Insite in July 2012 at $1.47 million
INVESTMENT BENEFITS
- $170,000 instant equity based on current appraisal
- Upside of $500,000 in building value may be realized within 2 years
- $1.3 million value determined at 10% cap rate
- Turn-key, stabilized building
- Approximately 50% of occupancy represented by long-term anchor tenants (25 years+)
Strong market demand for this class of office space
STRATEGY
Refinance in 2 years after realizing upside.
New building value:
At 10% cap: $1.53 million
At 9% cap: $1.7 million
At 8% cap: $1.91 million
At $1.8 million refinance, entire capital invested may be extracted
Hold for principal paydown and market upswing
THE NUMBERS
Purchase Price: $1.3 million
Investment Required: 35% downpayment plus acquisition costs. Estimated $500,000
Minimum $100,000 investment
Current NOI (Net Operating Income): $131,403
Estimated NOI after 2 years: $153,139