Day 111 of posting a deal a day until I get a new role in CRE / Investments / Value Add

Today's deal is a non performing loan in Texas. I would foreclose and lease up this industrial space 1 mile from the airport. The bank wants this off their book. Most people think it's worth nothing but I see upside.
1) key deal info

- non-performing loan of an industrial asset in Corpus Christi, Texas.

- through the note I would acquire the underlying real estate at a significant discount to its replacement cost.

- The loan is in default, and a Summary Judgment was granted in September 2025. The borrower is in liquidation, creating a clear path to ownership.

Day 79 of posting a deal a day until I get a new role in the investments / CRE space.🧵

Today's "deal" is about portfolio optimization and accretive capital allocation. I want to show you how you decide what assets to sell when you need to pay down debt and which assets to never sell. Situation
- let's assume you own 5 properties worth around $160k but you have $100k in corporate level debt (not property level)
- interest rates have just risen to 5% and your Debt/NOI is at 11x and your NOI to interest is 1.8x
- you need to pay down debt to get to 8x Debt/NOI to maintain lender relationships and reduce risk

As promised @CaseyMericle , here is my day 6 Deal Analysis of doing a deal every day until I land a new job in Real Estate.

Today I break down this deal, stress test scenarios, and explain the RE option strategy Casey references. This is how you turn a -1.4% deal into a 52% deal 🧵 Snapshot:
Vacant 6,912 SF freestanding retail box in North Phoenix, built 2017. Priced like it is already leased, not like a vacant asset that still has to earn its way to stabilization.

Basically, they can't lease it up because they don't want to spend money on leasing costs (free rent, leasing commissions, Tenant Fit Out etc)

(Had to use Casey's images because no longer on market)

Where I see the most value in Commercial Real Estate: Top Industrial markets with overblown vacancy risk with Value Add upside. Let's look at a deal to see why. This will be the most comprehensive analysis you see today🧵 Let's look at Camp Creek in Atlanta Georgia.

Here are the quick facts:
- New, Class A, 220k SF, leased to a top healthcare tenant
- Value add = 70k sf bay of vacancy, and an unutilized IOS Site(@rohde88 😉)
- The current tenant is a credit worthy healthcare tenant with 10 year lease increasing 3.5% a year