Property Acquisitions
We seek to acquire existing properties and potential development projects in select markets. Preferred property types include multi- and single-tenant office and retail properties. Our core market area includes the New River Valley and Roanoke Valley. For select properties we may expand the market area to a 150-200 mile radius of Blacksburg, excluding WV.
We specialize in creating transaction structures to minimize tax effects to sellers. We are experienced in utilizing IRC Sec. 1031 tax-deferred exchanges; structured sales; corporate spin-offs and sale/leasebacks. Our expert tax advisors are available for referral when the situation warrants direct counsel.
We are happy to deal directly with owners, principals and/or designated intermediaries. We value and protect all brokerage relationships and commission agreements.
Our Acquisition Team: Fast, Direct and Discreet
As buyers we bring over 25 years of experience to the table, a strong balance sheet, and the capacity to write contracts with no finance contingencies. We typically require a due diligence period of 45-60 days, with closing 30-45 days after acceptance of the due diligence.
We work directly with you or your designated representatives to complete due diligence. We use a systematic approach to analyze properties, with written checklists to guide the seller in collecting the information we require for evaluation.
As property owners and operators we understand the need for discretion during on-site inspections. If necessary we will schedule site visits during off-hours whenever possible. Our objective is to perform adequate inspections with a minimum of disruption to operations.
Acquisition Process
We typically can determine initial interest with very basic information, e.g. location, property type, price, cap rate at indicated price and general profile of current operations. We will respond to marketing flyers for a quick response to send a full offering package. Phone calls are welcome.
Assuming interest we will issue a written term sheet (or letter of intent if preferred) indicating the general parameters and terms of our interest, subject to satisfactory due diligence and underwriting. We fully expect the term sheet to be negotiated. In our experience we have never done two identical deals, and fleshing out the unique factors is part of the initial evaluation.
We will draft the contract by utilizing the final terms in the term sheet or LOI, with usual provisions found in commercial contracts. Our general due diligence requirements are detailed on the Property Criteria pages.
Property Acquisition Criteria
Our current acquisition criteria is available by category via the links below. These are general guides to our interests, but please keep in mind we are dealmakers. That means we are always open to opportunities disguised as problems. If your property does not exactly fit the criteria, an “outside-the-box” configuration or situation, please do not hesitate to contact us to discuss the particulars.
