Acquisition Criteria
Warner Pacific Properties' company strategy is to acquire land and real estate assets with value-enhancement opportunities throughout the United States. Please review the following criteria that we use when evaluating opportunities:
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Property Types
- Multi-family residential, Office, Industrial and Retail;
- Single Asset or Portfolios;
- Single-Tenant or Multi-Tenant Properties; and/or
- Vacant Land.
Investment Size
- $3 million and larger (there are value exceptions for vacant land and/or development sites).
Markets and Market Locations
- National (with a Midwest and West Coast emphasis);
- MSA with populations greater than 250,000;
- Smaller markets (less than 250,000 population) with high growth projections; and/or
- Suburban and In-fill.
Investment Profile
- A motivated or distressed seller;
- Mismanaged assets that can be repositioned;
- Deferred maintenance and curable functional obsolescence;
- High and/or above-average vacancy level;
- High percentage of rollover during the next 12 to 24 months;
- Properties with excess land; and/or
- Condo map potential (multi-family, office, industrial, etc.)
Replacement Cost
- Properties below 75% of Replacement Cost are preferred.
Acquisition Type
- Fee Purchase; and/or
- All cash or with in-place financing.
Financing and Timing
- All Cash; and
- Immediate, Subject to 3rd-Party Reports.
Broker Recognition
- Warner Pacific Properties will pay the brokerage commissions (2% to 4% of the purchase price) if necessary; and
- Brokerage professionals who submit investments will be engaged to lease the subject property if their firm has a qualified leasing team.
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Market Criteria
- Secondary Markets 25,000 to 150,000
- Diversified Economy
- Strong Economic Forecast/Economic Drivers
- Low Unemployment
- Good Labor Force
- Need for Affordable/Workforce Housing
- Strong Population Growth
- Household Income Growth
- Pro Development - Political Climate is Pro Growth
- Ability to Fast Track Development
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Site Criteria
| General Location: |
near an interstate; preferably with interstate visibility |
| Specific Location: |
preferably a corner location, proximate to an off-ramp or major intersection |
| Land Size: |
minimum 20 developable acres; 50 developable acres plus; depends on the market and the location |
| Utilities: |
Availability of City Water and Sanitary and Storm Sewer |
| Land Price: |
$20,000 to $50,000 per acre; depends on market |
| Egress and Ingress: |
Easy access into the property |
| Visibility: |
the property is easily seen from all directions |
| Zoning: |
Can accommodate a combination of commercial and residential uses; can be annexed into the city if currently in the county |
| Site Orientation: |
The Primary frontage is along the busiest road |
| Shape: |
The ideal shape would be mostly rectangular. Each property is reviewed on its own merit |
| Topography: |
The property will have less than a 30 percent slope |
| No Environmental Issues: |
Clean property ready for development |
Financing and Timing
Broker Recognition
- Warner Pacific Properties will pay the brokerage commissions if required
- Brokerage professionals who submit investments will be engaged to lease the subject property if their firm has a qualified leasing team
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