ACQUISITION CRITERIA

The members of First National Realty Partners Investment Committee are currently seeking acquisition targets and vetting transactions with the following criteria:

RETAIL

  • Market Dominant Centers (#1 or #2) in their respective markets
  • Grocery Anchored, Value, Entertainment and Necessity Based Community Shopping Centers
  • Core, Core Plus and Light Value Add
  • National Credit Rated Tenants
  • Minimum Center size of 75,000 Square Feet
  • Minimum Average Household Incomes of $75,000 (3 Mile Radius)
  • Minimum Average Population Density of 70,000 Households (3 Mile Radius)
  • Strong Employment Growth within each Market
  • National Focus in both Core and Secondary Markets
  • Minimum Deal Size of $15,000,000

MULTI-FAMILY

  • Market Dominant Apartment Complexes (#1 or #2 within each sub market)
  • New(er) Construction – less than 10 years old
  • Focus on workforce housing and affordable luxury with amenity packages
  • Well located and proximate to major nodes of public transportation
  • Minimum Project Size of 100 apartment units
  • Strong Employment and Population Growth within each Sub Market
  • Minimum Average Household Income of $75,000 (3 Mile Radius)
  • Markets with Top Ranked Public School Systems
  • Lack of new supply and manageable forward development pipeline to limit competition

INDUSTRIAL

  • Single Tenant and Multi-Tenant Properties
  • Long Term in place leases with national credit tenants
  • Multiple Loading Docks to accommodate future tenants
  • Minimum Building Size of 150,000 square feet
  • Require Smaller Properties (less than 400K SF) to be within in 45 miles of major population centers to accommodate last mile delivery
  • Require Larger Properties (greater than 400K SF) to be proximate to major highway networks to support long haul distribution

Although we primarily look at deals within our own criteria, we are not adverse to looking at all types of deals.

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