Property Acquisition Criteria

VALUE-ADD PROPERTY ACQUISITION CRITERIA

Given our expertise in real estate, we feel confident in our ability to understand current market values and demand requirements, pricing, construction costs and associated strategies for value-add properties.

Our general acquisition criteria include value-add deals that may incorporate the following:

– Lease-up of vacant space.

– Increase of rental rates in recovering markets.

– Re-tenanting, repurpose or conversion of use.

– Renegotiation of existing leases with distressed tenants.

– Reengineering the capital structure.

OPPORTUNISTIC PROPERTY ACQUISITION CRITERIA

Due to our team’s unique and varied skill set, we seek and excel in acquiring opportunistic investments.

Our general acquisition criteria include opportunistic deals that may incorporate the following:

– Acquisition of raw land or projects in various stages of development.

– Investment in specialized property sectors.

– Acquisitions from non-traditional sources, such as assets in bankruptcy or liquidation.

– A deal size of $20 million or less.

 

DISTRESSED PROPERTY ACQUISITION CRITERIA

The investment team at Great Pond has vast experience encompassing all aspects of real estate investment, development, and management, including acquisition, financing, disposition, leasing and construction management.  The hands-on real estate expertise of our team gives us a strong position in the distressed real estate investment space.

Our general acquisition criteria includes all real estate or real estate backed assets in distress, including:

– Bank notes, mezzanine debt, generally with mid to senior positions in the capital structure.

– Partial or participation interests of syndicated mortgage facilities, as well as other investment pools.

– Properties in need of repositioning and/or renovation.

– Distressed assets due to capital market constraints.

– Distressed assets due to overleveraging or covenant defaults.

– A deal size of $20 million or less.

 

CORE-PLUS PROPERTY ACQUISITION CRITERIA

We have experience as developers, investors and academics, and specifically extensive knowledge of single-tenant properties subject to medium to long-term leases. Our focus in the core-plus space is on the purchasing of properties with net leases from high quality credit tenants, which typically require the tenant to pay all or most of the property operating expenses.

Our general acquisition criteria include:

– Single tenant, net-lease properties: double net, triple net, and bond leases.

– Lessee or guarantor rated or implied rated at least BB- by S&P and/or Ba3 by Moody’s.

– All types of credit tenants. This includes but is not limited to: corporate (domestic and foreign), retail, government (GSA, municipal), healthcare, and education tenants.

– A deal size of $20 million or less.