In addition to managing property, Premier also acquires real estate assets for its own portfolio. Premier has a long history of protecting and appropriately compensating those who bring us valuable transactions.
While every rule will have its exceptions, the following acquisition criteria should be considered as strong guidelines:
- We are not passive investors. We do not invest in projects where we do not have management and significant control.
- We are interested in multi-tenanted properties.
- We look for opportunities to create value over a 3–10 year horizon.
- We are hands on operators, and we are not afraid of deals with significant vacancy, environmental problems, deferred maintenance, or requiring repositioning, as long as these factors are priced into the transaction.
- We care a lot about cash flow and cash on cash returns. Our focus is often on in-place income and trailing 12 month financials in valuing an asset.
- We are interested in all asset categories, including office, flex, medical, retail, multifamily, and condos. Essentially we will consider any real estate asset that meets the other criteria on this page.
- We will look at development projects on a selective basis.
- Our minimum deal size is approximately 30,000 sf. A practical upper limit to our capability in most markets is probably about 150,000 sf, although these are not strict criteria.
- We usually buy projects at a discount to replacement cost.
- We do not re-trade and we only want to work with serious, committed sellers who share our values.
If you are aware of a property that may meet our objectives, please do give Jonathan Cutler a call at 888-597-8700 x33.