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Real Estate

In recent times, owners have been holding back from selling hoping that prices will improve to previous levels seen in 2006 and 2007.  However, it is apparent that no such improvement is going to happen in the near future.  Thus, if capital is strongly required by the owners, real estate sales will take place today at a 20% to 30% discount from previous highs. 

Most institutional property owners—especially colleges and universities, hospitals and town and county governments—are seeing sources of income decline significantly in the current market.

If capital is required for construction or renovation while fundraising and tax and income revenue streams are declining—while at the same time institutional lending has dropped significantly—there’s little hope for addressing the immediate needs of the organization.

Greenfire and its international private equity investors structure purchase and sale-leaseback deals on properties in the following classes: commercial; office; medical; higher education; town and county government; mixed-use; and, industrial.

Greenfire’s private equity investors and international real estate investment trust partners are discovering opportunities for long-term investment appreciation in markets across the U.S. and world. These are long-term investors who seek to purchase commercial, governmental, educational and professional properties at or near current appraised values.

The sale-leaseback option including the option of sale-leasebacks, our client wishes to evaluate qualifying properties and, in the case of those properties that meet its criteria, to finalize offers within 15 days in most cases.

Acquisition Criteria

Credit Rating: AAA through Unrated

Transaction Types:

Sale-leaseback; acquisition from third parties or build-to-suit; development funding for investment-grade tenants; forward commitments to purchase at completion for non-investment-grade tenants.

Lease Structure:

Double-net, triple-net, or bondable lease.

Term:

10 years minimum remaining term (prefer 15 years or longer).

Rents:

Initial rents at or below local real estate market; stepped with periodic fixed increases; renewal rents fixed up-front in some cases.

Transaction Size:

$10 million minimum; $1 billion maximum.

 

As the economic requirement allows, new buildings will be built or expanded. With many of the government tax and subsidy benefits in green building, we have formed a joint venture with a building material company—Build Better Green—that supplies a natural indoor/outdoor wall panel with features geared to maximize green, safety, insulation, wind resistance and fireproofing standards.