We are pleased to share the next investment opportunity from Broad Reach Retail Partners, LLC: a five shopping center portfolio. This portfolio offers investors a great combination of a stable income stream, high-performing grocery stores, and significant upside. Below is a brief overview of the portfolio.
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Basics: 5 Shopping Centers representing 603,920 SF; overall occupancy is 84% and anchors include Kroger (3), Shop-n-Save and Jewel-Osco
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Locations: Nashville, TN; Martinsburg, WV; Peoria, IL (2); and Chicago, IL
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Tenant Sales: Average 2016 grocery sales are $25.5 million with strong occupancy expense ratio 1.99%.
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Economics:
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Total Purchase Costs – $56,100,000 million or $92.90 psf, significantly below replacement costs
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Equity Requirement:
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Total $16.223 million
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Fund II will commit to $8.1 million or 50% of the current Equity requirement.
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Broad Reach is Raising $8.2 million in additional capital
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Returns Projections
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Average Cash on Cash Returns of 10.29%
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Projected IRR 17.05%
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Multiple 1.76x
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This is a superb opportunity to invest in a portfolio of necessity-oriented shopping centers that are both internet and recession-resistant, have stable cash flow and solid initial returns with upside potential.
If you have an interest in this opportunity, please reach out to Nate Tower, CEO, directly, and we will get you the full Equity Offering Package.