I have a Multifamily Buyer, are you ready to sell?
I’ve to talked to property owners, brokers, title companies…but nobody seems to know of any properties for sale that fully meet the needs of one of my clients. He has no 1031 or 1033 Exchange deadlines to worry about…but he does have cash sufficient to purchase 60 to 80 quality units in the Portland area. Wilsonville doesn’t hit his sweet spot…nor does Gresham or much East of I-205. Vancouver is possible…West and Southwest PDX would be winners.
He’s willing to pay a fair price for quality.
He takes real pride in ownership: fixer-uppers are not his thing. This is a knowledgeable investor who puts little stock into overly optimistic proformas. The challenge for me is to deliver value to him he can’t find elsewhere by himself. Off-market deals, pocket listings are more likely to get consideration than something on Loop-Net or Craigslist.
I appreciate all offers
…including the six folks that have suggested that their client’s now dark single tenant NNN store would be a good opportunity. This investor is focused exclusively on multifamily opportunities.
I closed a small apartment complex earlier this month, and I’m working on two new multifamily listings…a retail space lease and offers on two houses. With your kind help finding an owner willing to part with a 60 to 80 unit complex, June will finish out a heck of a month. If you have any ideas good or bad…please call Rick M. Bean at Rose City Commercial Real Estate: 503.577.1034, or e-mail me at: rick@rosecitycre.com.
Tags: apartments, commerical real estate, investment, mulitfamily
