John Andreini Profile picture
Apr 5 5 tweets 1 min read Twitter logo Read on Twitter
Just Closed!!

Price: $3,000,000
Cap Rate: 5%

#cre #retwit
1031 exchange buyer took this down, got debt from a life insurance company, and was a local buyer.
Rent was only $2/ft. annually, price per foot entry point was only $46 - outstanding intrinsic value.
Probably $6M in upside if tenant ever leaves, but the user has a long lease and multiple options.
The mythical 5 cap is still alive and well.

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More from @jandreini1

Apr 4
Below is an incredible story thread about a great deal gone wrong.

In what used to be one of the best locations in the world.

And what it took to save the deal from disaster.

Goes a little something like this:

#retwit #cre
The year is 2017 and the subject project is a leasehold interest shopping center with a strong tenant line up that includes Starbuck’s, Chase, Burger King, Subway, and other nationals backed by franchisees.
It is one of the most well known locations in America on Michigan Avenue in Chicago centered above Millennium Park, home of “The Bean” sculpture.
Read 14 tweets

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