General Questions 1
What is wrong with this sourcing section?
https://transactioncomps.greenstreetapps.com/cre-acquisition/details/source/219716
Researcher Compiled should not be Confidential!
What is a Park portfolio?
- All properties are next to each other / in the same vicinity
- All properties are (usually) same sector
"Blackrock has sold the first eight floors of the office building at 782 E Madison Ave. This is the first time the property has sold in over 5 years."
What should the Property Name be?
You are processing a deal.
You see that the deal already exists in TICI.
The year built in TICI is 1987.
The year built from your source is 2000.
What is your next step?
Try to confirm which year built is accurate by:
1. Ensure associate who inputted Year Built did it correctly by opening up their source from Deal Database Sources
2. Looking on CoreLogic
3. Finding an article about the sale
4. Asking a TL or Manager for help
What is wrong with this sourcing section?
https://transactioncomps.greenstreetapps.com/cre-acquisition/details/source/219717
Researcher Compiled should be CLOSED!
TRUE or FALSE
You should use normal Portfolio Name formatting for a Park Portfolio
FALSE
Use the name of the Park or combination of addresses as the Portfolio Name
"Green Street has sold a 30-story office tower in NYC. The property is at 125 Green Ave in Manhattan. It has an alternate address of 47 Lexington St."
What should the Property Name be?
125 Green Avenue, 47 Lexington Street
What is the:
(1) Property Name?
(2) Sector & Subsector?
(3) Sale Price?
https://rebusinessonline.com/cbre-brokers-95-7m-sale-of-bella-encanta-btr-community-in-mesa-arizona/
(1) Bella Encanta
(2) Single Family Rental > Build to Rent
(3) $95.7 million
What is missing from this deal?
https://transactioncomps.greenstreetapps.com/cre-acquisition/details/transaction/219717
Building Size
TRUE or FALSE
A Strip Center can be a Park Portfolio
FALSE
We can only do Park Portfolios for Office, Industrial, Cold Storage, Medical Office, and Life Science
What should the Property Name be?
Yankee Industrial Park, Buildings 2&3
TRUE OR FALSE
You are processing a deal from the Deal Hopper workflow.
The deal is already in TICI.
TICI's Seller is Green Street Advisors
Your article says the Seller is Blackstone Group Inc.
You should add Blackstone Group Inc. as Seller #2.
FALSE.
You should confirm who the true seller is and NOT just add another seller.
Maybe it's Green Street Advisors, maybe it's Blackstone, maybe it's both... but you need to confirm using another article!
Which price should be in Researcher Compiled?
https://transactioncomps.greenstreetapps.com/cre-acquisition/details/transaction/219718
The most exact one!
What should the Property Name be?
14-25 Golden View Parkway
Which article has the correct Square Feet?
Real Estate Alert - 439,000-sf
What is the Stake and the Sale Price?
https://www.commercialsearch.com/news/paramount-sells-stake-in-nyc-tower/
Stake: 45%
Price: $94.5M
What should the Portfolio Name be?
https://www.nationallanddevelopers.com/5-property-652k-sf-industrial-portfolio-trades-in-charlotte-raleigh-durham/#:~:text=LM%20Real%20Estate%20Partners,represented%20LM%20in%20the%20transaction.
"Views at Sunset has sold for significantly more than it did this time 2 years ago. Rosewood Realty Group brokered the sale of the property last week for $45M, which is $30M more than the last time the property at 1587 Fremont Boulevard sold."
What should the Property Name be?
Views at Sunset
If we have these 2 data points, they can help us calculate Cap Rate.
What are the 2 data points?
1. Price
2. NOI (Net Operating Income)