What can you bring to the table?
I'll will be starting to publish "The Bottom Line's Round Table" to open a dialogue with all my contacts and whomever reads this post to help network all our opportunities.
The following represents available opportunities. They were presented to me...obviously to follow up with an ernest interest, agreements are necessary. If you find anything of interest...please contact me and we'll do what's needed to proceed to the next step. Let me know what you think!
Hello Michael,
I hope you find something you like. Please remember that on any of these properties the buyer needs to pay a 1% fee share on the sales price at closing.
OM-62: Resort Development, Garden Grove, CA, Price: $300M
Development Highlights - Project consists of approximately 6 acres - Project is CEQA approved, “shovel” ready. Break ground in 4-6 mos. - Located .75 miles from Anaheim Convention Center - Development will consist of one (1) hotel and casitas, 500 keys, one (1) limited service (to be branded) hotel 170 keys, one (1) 15,000 SF cafĂ©, one (1) 10,000 SF live venue, one (1) 10,000 SF Universal Studios branded restaurant/store. - Included is 35,000 SF of meeting / ballroom space. - Development cost estimated at $298 million. - Developer to contribute land at appraisal. - City incentives include 60% of Hotel Bed Tax (14.5%) over 20 years on Hard Rock - Hotel and Casitas, 50% of hotel bed tax over 10 years on limited service (to be branded) hotel and 50% of City portion of sales tax revenues over 20 years for the entire project. Totaling approximately $100 million in City Incentives. - Included is an approximately 1,300 car parking structure. More information will be disclosed after signed NDA. OM-44: 440+ Keys Hotel, Newport Beach, CA, Asking Price: $185M
- Hotel is 440+ Rooms including 54 suites. 10 stories. 7.4 Acres. - Replacement Cost Hotel: $143,000,000 = $325,000 / room More information will be disclosed after signed NDA OM-64: Major 580+ Keys Hotel & Resort, CA, Asking Price: $600M
The 102-acre estate features 580+ guestrooms and suites, including spacious bungalows, casitas and villas. Luxurious amenities spotlight eight unique dining experiences, a full-service spa and fitness center, award-winning golf course, three swimming pools, kids' club, ecological enrichment programs and 135,000 square feet of indoor and outdoor wedding and event space. 350+-room hotel offers 300+ guest rooms and 34 suites that range from 450 square feet to the 1,800-square-foot Presidential Suite. Contemporary features include rich linens, stone baths and amenities such as flat-screen TVs, iPod docking stations and Wi-Fi access. For added space and privacy, guests can choose from 20 twobedroom bungalows, 50 three-bedroom ocean view casitas and 32 villas that range from 1,850 square feet to 2,800 square feet. Each offers spacious kitchens and living areas. Room lock-off capabilities offer added flexibility for groups of any size. More information will be disclosed after signed NDA. OM-73: Class “A” Trophy Office Building, Chicago, IL, CAP 4.5% Asking Price: $1.19B
Located in the heart of Chicago, the building has a square footage of 1, 2 Million. It is a 30+ story office building, with state-of-the-art infrastructure.
The NOI exceeds $50M, with over 96000 square feet available to lease. At a 6% CAP Rate this equates to a value of approximately $555M. In addition, the value of the vacant development parcel is estimated at $35 per buildable square foot or more than $38.5M for a total exit value of $593.5M. More information will be disclosed after signed NDA OM-75: 186 Keys Hotel, Modesto, CA, JV Investment Opportunity, Asking Price: $5M
- Seller has a 186-unit hotel in Modesto, California at a major intersection. - 7.2 acres with majority of the acres not being used. - Wealthy farm community. - Hotel is free and clear. - Has been leased out to Clarion for five years. - Seller can cancel lease with Clarion with 60 days notice. - Value is $12M-14M; no current appraisal - Cash flow is strong. - Seller is looking for investor to JV with to turn hotel into either an assisted living, or independent living facility, or both. - $4M-$5M investment needed to accomplish goal. - Strong city council relationship, so approval will be quick and efficient. - Currently, no business plan on the table. - Owner owns 60+ hotels free and clear - The hotel has spa and indoor pool. - This the right demographics for this conversion with the right partner. - Seller is looking for a JV partner at $4M-$5M investment. More information will be disclosed after signed NDA. OM-78: 200+ Keys Hotel, San Jose, CA, Asking Price: $54M
- 214 Rooms & Suites - Estate on 26 acres - Fee simple - 2 restaurants/lounge/club room - Pool, Fitness Center & Spa - 33,000 SF of functional space in 24 rooms - Golf - Parking - 4 Stars - Current Owner Invested $65M 5 years ago - Hotel management and employee is non-union - Asking price: $54M or $250K per room - Cap rate today (without a flag) is around 5% - Renovation required: $1M at arrivals point. - Current owner may consider investing for this added requirement. - Possible golf course to be part of the deal by the owner, less the operating costs and management which is on new investors account. - Possible added capital investment-subject to site review More information will be disclosed after signed NDA. OM-82: Commercial Marina Property, CA, Appraised Value: $34M
The marina’s primary business is to provide to its customers a full service marina, which includes boat launching and other access services (travel lift, etc.), required boat inspections, slip rental, seasonal indoor/outdoor boat & trailer storage, gas & other retail services, boat washes and maintenance repair/ seasonal services for boats. Currently the marina has 343 slips, inside storage to accommodate over 60 boats and outside storage with a capacity of 140 boats. Trailer storage capacity is 200. In addition, as of March, 2012, the CTC has approved an additional 400 dry dock slips for the parcel of land adjacent to existing storage. The marina was valued in excess of $34M with annual income exceeding $4,000,000. Seller pays commission. More information will be disclosed after signed NDA. OM-91: Medical Center, San Diego, CA, Asking Price: $8M
Quality two story glass medical office building, over two levels of covered and secure parking with elevator service. Built-out space available for immediate occupancy. State of art security system. SF: +/- 22,000, 75% Leased, NNN, Lot Size: +/-18,000 More information will be disclosed after signed NDA. OM-128: 21-Story Class “A” Office Building – San Diego, CA, Asking Price: $89M
21-Story Office Building located in downtown San Diego, CA on approximately 1.38 acres of land. Built in 1968. However, building has been upgraded in 1993-1994, 1998-1999 & 2001. Spent $40,000,000 over the last 6 years improving the building. - Building Size: 347,087 Total Rentable SF. - Two (2) subterranean parking levels consisting 97,400 SF / 238 Parking spaces – mostly tandem parking. - Building can be converted to mixed-use. Seller has architectural plans available
The building was previously occupied by a major corporation and served as its corporate headquarters. Tenant’s annual income is $5,300,000 per year. Tenant vacated in July 2015. Tenant is leaving personal property on the premises, i.e., televisions, security equipment, furniture, all fixtures, etc.
My client is seller-direct on this off-market property. Previous asking price was $100M. Seller may also consider a JV with the right partner and vision. Buyer must provide LOI, POF and Bio. Once I receive these documents, Buyer will be referred direct to owner.
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