Hi Don and Hugh. This opportunity was presented to me through a selling agent that I am presenting for your consideration in regards to the $200 million 1031 exchange request. Let me know if this is of further interest and I will set up a call asap. We can get OMs for all the projects once the set paperwork is adhered to. Let me know if there is interest.
1.) Class A property located in SW Florida. New Property.
Building: Class A - Built after 2010 - 300 plus units - Occupancy: 90% NOI:
$3.5 million - Asking Price: $69 million
2.) Class A property located in Palm Beach County, Florida. New Property
Building: Class A - Built after 2010 - 300 plus units - Occupancy: 95%
Asking price $62 million at sub 5% cap, cap depends on final price.
Seller not desperate to sell, is accepting offers with LOI, BIO and POF.
3.) Class A property located in Palm Beach County, Florida. Brand New Property.
Building: Class A - New Property - 200 plus units - Available Sept 2017 now
over 98% complete. Take it now with low to no occupancy and a concession
on price, or take it rented by the developer. Asking price: $52 million
$230k a key, 6 stories – structured parking.
4.) Class A property located in Palm Beach County, Florida. Building: Class A -
Built after 2004 - Units: 125 - Occupancy over 90%, updated and stabilized,
Two parking spaces per unit. 40k to 50k upside potential. PRIME Class A
location and buildings. Asking price: $21 million, trading at market area rate of 5% cap.
Please advise buyer these types of transactions are clearly put forward in a fashion in which buyer agrees to pay a final purchase price for an asset provided plus what is known as a "buyer's premium",or buyer paid fee additional to and calculated by the final purchase price. Buyer's premium rate of
3% on assets up to $30MM, 2% on assets from $30MM to 100MM, negotiable on higher end assets.
This is what is asked from the seller agent
For more property info, we will need to qualify buyer as follows;
To engage the Seller and/or Seller's delegate for full property details
including financial records and/or to set up property inspection/walk-through,
we will need buyer's non-binding LOI, fully executed NCND/FA, and POF
for vetting and verification of Buyers capability of closing this deal.
1.) Non-binding Letter of Interest (LOI) on asset(s) of interest.
2.) Upon receipt of LOI, Asset specific NCND/FA for buyer and brokers/consultants to fill out and sign will be drafted and sent for execution.
3.) return fully executed asset specific NCND/FA with buyer's POF*, or have it readily available
*BUYER CAN CHOOSE TO PROVIDE POF DIRCTLY TO OWNERSHIP (AND/OR DELEGATE) BUT FIRST MUST PROVIDE
THEIR LOI & RETURN FULLY EXECUTED NON-CIRCUMVENT NON-DISCLOSURE / FEE AGREEMENT - (NCND/FA)
We have a LOI format and a Bank Letter format available for buyer's convenience and use, Buyer can edit or have edited either format, I will send with asset specific NCND/FA upon interested buyer's request.
1.) Class A property located in SW Florida. New Property.
Building: Class A - Built after 2010 - 300 plus units - Occupancy: 90% NOI:
$3.5 million - Asking Price: $69 million
2.) Class A property located in Palm Beach County, Florida. New Property
Building: Class A - Built after 2010 - 300 plus units - Occupancy: 95%
Asking price $62 million at sub 5% cap, cap depends on final price.
Seller not desperate to sell, is accepting offers with LOI, BIO and POF.
3.) Class A property located in Palm Beach County, Florida. Brand New Property.
Building: Class A - New Property - 200 plus units - Available Sept 2017 now
over 98% complete. Take it now with low to no occupancy and a concession
on price, or take it rented by the developer. Asking price: $52 million
$230k a key, 6 stories – structured parking.
4.) Class A property located in Palm Beach County, Florida. Building: Class A -
Built after 2004 - Units: 125 - Occupancy over 90%, updated and stabilized,
Two parking spaces per unit. 40k to 50k upside potential. PRIME Class A
location and buildings. Asking price: $21 million, trading at market area rate of 5% cap.
Please advise buyer these types of transactions are clearly put forward in a fashion in which buyer agrees to pay a final purchase price for an asset provided plus what is known as a "buyer's premium",or buyer paid fee additional to and calculated by the final purchase price. Buyer's premium rate of
3% on assets up to $30MM, 2% on assets from $30MM to 100MM, negotiable on higher end assets.
This is what is asked from the seller agent
For more property info, we will need to qualify buyer as follows;
To engage the Seller and/or Seller's delegate for full property details
including financial records and/or to set up property inspection/walk-through,
we will need buyer's non-binding LOI, fully executed NCND/FA, and POF
for vetting and verification of Buyers capability of closing this deal.
1.) Non-binding Letter of Interest (LOI) on asset(s) of interest.
2.) Upon receipt of LOI, Asset specific NCND/FA for buyer and brokers/consultants to fill out and sign will be drafted and sent for execution.
3.) return fully executed asset specific NCND/FA with buyer's POF*, or have it readily available
*BUYER CAN CHOOSE TO PROVIDE POF DIRCTLY TO OWNERSHIP (AND/OR DELEGATE) BUT FIRST MUST PROVIDE
THEIR LOI & RETURN FULLY EXECUTED NON-CIRCUMVENT NON-DISCLOSURE / FEE AGREEMENT - (NCND/FA)
We have a LOI format and a Bank Letter format available for buyer's convenience and use, Buyer can edit or have edited either format, I will send with asset specific NCND/FA upon interested buyer's request.
