Acquisition Criteria
Strategy: Acquire retail properties with value added potential through development, renovation, expansion, and re-tenanting.
Typical Value Added Components Normally Considered:
- Distressed/ poorly managed/ poorly leased/ undercapitalized assets
- Environmental distress
- Below replacement cost
- Short term lease rollover exposure
- Ability to reset below market rents
- Motivated Sellers
- Portfolio Sales
Type of Property: Grocery Anchored Neighborhood Strip Centers, Community Centers and Mixed-use Properties.
Minimum Size: 50,000 square feet
Geographic Area: East Coast of United States
Investment Structure: Depending on the nature of the deal Charter will acquire: all cash; above mortgage; joint ventures with existing owner; or tax deferred type transactions involving master leases/ground leases or other creative solutions.
Submission Should Include:
- Location and Physical Address
- Physical Description
- Map and Description of Area
- Traffic Count Information
- Site Plan/Survey
- Detailed Rent Roll
- Historical and Current Operation Statements
- Photographs (including aerials if available)
- Tenant Sales History
- Current Demographic Report
- Environmental Reports
Contact:
- Paul Brandes - Principal
- Charter Realty & Development Corp.
- 800 Westchester Avenue, Suite S-632
- Rye Brook, NY 10573
- Phone: (914) 701-4002; Fax: (914) 701-4003
- Email: psb@chartweb.com