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Southfield Properties, LLC is aggressively looking to acquire multifamily and office properties. Our acquisition criteria are as follows: General Criteria - Potential High Yield Income Streams.
- Cap Rates – Trading at or above market cap rates based on actual profit and loss numbers.
- Price range - generally $1,500,000 - $10,000,000.
- Cash Equity - "All Cash" or "Cash to Existing Debt".
- Value Add Opportunities sought: low rents, high expenses, sub-metering, etc.
Property Criteria - Class "B" and "C".
- Multi-family, office, small retail, and mixed-use properties.
- Minimum Apartment size – 50+ unit Apartment Complexes.
- Age - open.
- Utilities – prefer individually metered but not mandatory.
- Roofs – prefer pitched roofs but not mandatory.
- Minimum Occupancy - 70%. Must be trading at or above market cap rates based on actual profit and loss numbers; not proforma-based numbers based on 90% occupancy.
- Deferred Maintenance – Open to some deferred maintenance as part of value-add component. Typically not looking for complete renovation project unless the deal is off the charts.
If you have a property you would like us to consider, please click here to complete the following form.
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