$5MM & Up Commercial Property Wanted

[Stevecsd]

I work with a CCIM in California. Here is what we are looking for:

Looking for Off Market/Unlisted Deals Nationwide
Have Cash Buyers for Off Market (Unlisted) Deals Nationwide. $5M minimum price with no upper limit. Office, Industrial, Retail or Apartments. 7% Cap (return on investment) or better. Prefer properties built after 1985. Pocket listings are ideal. Brokers will be protected. Buyer will pay brokerage fees if Seller won't. Buyer can be somewhat creative in structuring deals. Please contact me for more information.

If anyone has such properties or leads to them I would appreciate it.

And yes, he is serious. Here is some background on him:

Major sales since 1998 include the following: The Telecom Business Center in San Diego, which I sold for $15,400,000; IBM's Michigan headquarters building, which I sold for $14,950,000; the Columbia Universal Life Building, in Austin, Texas, which I sold for $10,000,000; the Weyerhaeuser Campus in Federal Way, Washington, which I sold for $16,000000; the Encino Medical Plaza in Encino, CA, which I sold for $11,775,000.

He holds the CCIM (Certified Commercial and Investment Member) designation from the National Association of Realtors as well as the ABR (Accredited Buyer's Representative) designation and the GRI (Graduate Realtor's Institute).

You can Email me (Steven Currie) at steven@mywaytofreedom.com

[SPIVALAW]

http://www.srei-inc.com/listings/

[Commercial Lenders LLC]

Here is a situation though not 5 million ....could be gone. I'll have to check

I've been presented with another investment opportunity. There is a recording studio in Los Angeles with considerable history that is having some financial difficulties. The present owners of the studio would like to sell the studio to one of the recording artists that uses the studio, but there is currently an issue with the timing of the sale as well as the pricing of the studio.



The real estate agent that is working on the deal has presented me with an opportunity to find an investor who could purchase the property for one year at a price far below its appraised value, given an option to sell it to the recording artist one year later. Here are the details:



1. The property and studio appraised for $3.8M last December (9,750 sq ft recording/media production studio located in Hollywood, CA on a 10,125 sq ft lot). The financial statements show that this is a conservative estimate.



2. The proposal is for an investor to purchase the property and studio for $2.5M subject to the following conditions:



A. The $2.5M will be used to pay off the underlying first and second mortgages at closing so that the investor will own the property and studio free of any liens.



B. The agreement includes an option for the recording artist to purchase the property and studio from the investor for $2.8M after one year.



C. The recording artist will lease the property and studio during this year for $9200/month, paid to the investor.



D. If the recording artist does not purchase the property and studio after one year then the investor will own the property and studio without having to put up any more funding.





The history of the studio is quite rich and eclectic, including recordings from Elvis Presley, Frank Sinatra, Louis Armstrong, Michael Jackson, Beach Boys, Johnny Cash, Bing Crosby, Doris Day, Duke Ellington, Ella Fitzgerald, Billie Holiday, Charlie Parker, and Stevie Wonder. They also included Jessica Simpson on this list, believe it or not, as well as the Mr. Magoo and The Rocky And Bullwinkle animation productions --



For this investment seeking just one or two investors so that we can do a tenants in common agreement or an ownership in severalty. This way we won't need to create an LLC to do the purchase. This investment is 1031 eligible, but not required, and we are hoping to close the transaction in July. If the option is exercised after one year then the investor will make $2.8M - $2.5M plus $9200/month for 12 months, which is a profit of $300K + $9200*12 = $410,400. Thus represents a 16.4% yield for the year. If the option is not exercised then the yield should be much greater if the property and studio are sold for anywhere close to the appraised value.



If you care or anyone else, send me an e-mail