7 Deals, $220 MM, Moving from Broker to Lead Sponsor, Finding Partners and Deals - with Dan Salonis | TLS243

The Lead Sponsor - Real Estate Investing Through Syndications and Funds

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1+ y ago 44:52

MP3•Źródło odcinka

Dan oversees all aspects of the Progress Realty Partners’ Based out of New Jersey, operations, including investment strategy, asset management and tenant negotiations. June 2019, 7 Properties, 220MM Total 70 Lead sponsor.

Show Highlights:

Business Overview
- Yield Driven Private Equity Firm
  - Industrial, Retail Centers, Multiamily
- East Coast, Demographic In
  - Return Focused.
- Two main Principals
  - 22 Employees
    - Debt Brokerage
Journey
- Small Retail Firm
  - Took it from 15 MM to 400MM
  - 2016-2017
- 2019 -
  - Needed a partner with a
    - balance sheet
    - Over vision
    - 70% of capital stack is debt
  - Kathy Anderson
    - Debt Brokerage
- Ideal Opportunity
  - 90% occupied retail
    - Stabilized
    - 10-20
Case Study - 143 Units - Winston Salem.
- April, C- class, 3 property portfolio,
- Marcus and Millichap
  - Off Market
- 3.4% Interest 2 years I/o
- 17-
- 11 Million - Refinance and Hold.
Final Few
- How do you make the deal sourcing process more efficiently?

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