Commodore Realty, is always looking
to acquire new properties throughout the State of
Florida. We are planning to add approximately $30
Million worth of properties annually, over the next five
years.
Preferred Property Types
- Stabilized and value-add neighborhood and community retail shopping centers with national or regional credit anchors or junior anchors
- Demographic profiles that meet or exceed the MSA averages
- Properties with the opportunity to enhance cash flow through expansion, re-tenanting, or redevelopment are highly preferred. High vacancy properties will be considered
- Properties should have high barriers to entry
- Office, Multi-Family, Entire Condo Projects and Land will also be considered if property is in a distressed situation and Seller is looking to make an immediate exit from the property at a discount. Property should have strong fundamentals including location with steady historical appreciation. Intent with Condo’s is to convert to rentals therefore only Condo projects with all units unsold will be considered
Size
- Retail shopping centers over 80,000 sq/ft of GLA with transaction sizes between $5 - $50 million
- Office properties with minimum of 50,000 sq/ft GLA
- Multi-Family or Failed Condo Projects with 50 to 400 units
Location
- MSA’s in Florida with populations exceeding 100,000 people within a 5-mile radius
- Properties should be Main and Main locations
Key Buying Characteristics
- Solid Financial Backing – we can often close in 45 days
- Experienced, in house due diligence with over 30 years in business
- Straightforward Hassle Free Negotiation – “Real” price negotiated upfront
- Able to assume existing debt
Requested Information for Consideration
- Purchase Price
- Physical Description of Property & Photos
- Detailed Current Rent Roll & Lease Abstracts
- Site Plan / Leasing Plan
- Tenant Sales History (if available)
- Brief Market Description (including market rent and competition in the area)
- Operating Statements for the last two fiscal years including detailed accounting of expenses and recoveries
- Terms of existing debt (if applicable)
- Property history (age, date of last renovation, etc.)
- Disclosure of any known environmental issues
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