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Acquistion Criteria

[ ACQUISITION CRITERIA ]

Our Selection Advantage

Property Types:

Office or Flex Industrial

Deal Size:

$5- to $20-million total acquisition cost. 50,000 to 200,000 rentable square feet

Building Quality:

A Minus to B Minus

Occupancy:

70% to 100%

Yield:

8% to 11% current yield (cap rate) based on current occupancy, perceived risk, quality and durability of rent roll and income stream.

Replacement Cost:

The property’s purchase price must be at or below current replacement cost.

TRPslashC150
Tenants:

No tenant occupies greater than 25% of the net leasable space. Lease terms of 3 to 5 years with no more than 25% of leases renewing in any given year.

Debt:

Financed at 70% to 80% loan-to-value with either short-term variable-rate or long-term fixed-rate mortgage loan financing.

Management:

Properties will be managed and leased by the highest quality third-party management and leasing agents in a market.

Markets:

Properties throughout the Midwest and South located in the suburbs of major metropolitan areas and thriving smaller central business district markets. We prefer Class B properties in Class A locations where vacant land for additional development is scarce.

[ Our Core Market ]

Office or Flex Industrial

Our basic philosophy is to acquire and own office, flex, and industrial properties that generate stable cash flow with the potential for appreciation. We prefer Class B properties in Class A locations where vacant land for additional development is scarce.

Our current and sold properties are located in Alabama, Tennessee, Illinois, and the Carolinas in the suburbs of major metropolitan areas and thriving smaller central business district markets. We continue to seek opportunities throughout the broader Midwest and South.

Alabama: 670,000 sf
Tennessee: 670,000 SF
Illinois: 215,000 SF
Carolinas: 135,000 SF