I am a 30 year veteran in the R.E. Business needing funding for a 56000sf Office building $3M, with great credit tenant.
by Randy P. Hinkle
(Cullman, Al. United States)
I have a short term cash problem and need a honest private investor or JV partner to fund the following deal. I will put a small amount in the deal to show how serious I am about closing this deal.
56,000sf Office building would be class A if not for the 68 model. It has been remodeled extensively by the current long term credit tenant in the form of over $1M in the past 3 years. The tenant is 2nd nationally in financial stability in their class. The are backed by a very well known company and have 25 locations.
The property is distressed and worth $4.5M based on a conservative 10% Cap for this type property with this type tenant. It has no envireonmental issues. The purchase price has been negotiated to a range of $2.7-$3M if cash it will be closer to $2.7M which is a 17% Cap, the NOI is $451K now, $517K in June 2015, over $600K in 2020 and so forth. I am looking to hold the property long term.
But I can take out the investor within 36 months with conventional financing. this property will not last and I need help on it quick I have a BIO, Experience letter, etc., with complete property details. I also have another 4 properties almost as good as this one that could be added at $1.5M firstname.lastname@example.org, 256-338-5583. Randy Hinkle
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