Extremely attractive Acquisition of a US Parking Portfolio
Extremely attractive Acquisition - 10% cap rate - of a US Parking Portfolio. 4 different facilities provide a balanced portfolio in extremely good locations including one of the US’s busiest airport. Portfolio at 35% below appraisal value currently generating high yield with potential for additional huge upside.
- Huge upside- through increased occupancy, adding storage, lease extensions, development options, implementing new technologies
- Strong nationwide parking operator with over 2,000 parking facilities
- IRR net up to 19%, MOIC net up to 2.6x
- Equity Required circa USD $20m
- General Partner is a seasoned Real Estate investor with $5B in past transactions
- Positions such as Executive Chairman of public RE companies, board and committee member
- Founder of a Real Estate investment and development company with a current focus on parking
- Co ownership and JVs with several hardware and software companies with on and off street successful solutions