Acquisition Criteria

Our focus is on internet-resistant, daily-needs retail in dynamic sub-markets of the major metropolitan areas we cover (San Diego, Denver, Portland, Seattle, Salt Lake City and Los Angeles).

PRICE:  $5m - $25m
SIZE:    20,000 sf or more

PREFERRED LOCATIONS:

  • CA (San Diego, Los Angeles,
    Bay Area)
  • CO (Denver MSA)
  • OR (Portland)
  • WA (Seattle)
  • UT (Salt Lake City)

Sub-markets exhibiting a high concentration of medical and government service uses are of

 

PROPERTY TYPES

  • Neighborhood and community anchored centers
  • Strip centers (un-anchored)
  • Urban and mixed-use properties
  • Retail boxes with value creation potential
  • Creative office
  • Portfolios and individual assets.
  • Established locations with strong incomes and population growth.
  • Markets with barriers to entry.
  • Average household income in the upper percentile for the market.
  • Necessity-based retail properties.
  • Stabilized properties or properties in need of re-positioning, value enhancement or expansion.
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Value-Add

Core-Plus

IRR Target: 12% (leveraged)

Hold: 5-7 year

Our Core-Plus strategy seeks currently cash-flowing assets that have a component that allows us to create value, though at a lesser degree than our Value-Add assets. Examples of such components are below market rents, acquiring the asset off-market at some discount.

 

 

     

       

       

      IRR Target: 15% (leveraged)

      Hold: 3-5 year

      Value-Added opportunities offering potential near-term revenue enhancements that could result from re-positioning the tenant mix, leasing vacancies, building expansion space for existing or new tenants and building out pads.