Max Mantey’s Post

One of the biggest deals we closed recently.. Smithwest Plaza sold for $2,137,000. This one was a challenge.. But we knew the potential was there. Here’s why the seller was struggling: 1. Only 3 out of 7 tenants had current leases. - This led to rent instability. 2. A limited buyer pool emerged. - The uncertainty in the rent roll caused many investors to overlook the property’s potential. 3. Restricted financing options. - Due to month-to-month tenants, some banks were hesitant to lend. We knew we needed to take a different approach to get this deal done. Here's what we did: 1. Targeted qualified 1031 exchange buyers 2. Focused on cash buyers with flexibility. 3. Crafted tailored marketing for the property. 4. Engaged investors through strategic outreach efforts. And it paid off.. With no bank involvement needed and cash buyers at the ready, we focused on marketing to investors who could handle the property’s rent roll instability. We successfully secured a 1031 exchange buyer. The property closed for $2,137,000. That is, $205 per square foot. With a 6.47% cap rate based on actual income. Another great deal done right. Because we understood: - The market. - The buyer’s needs. - And how to structure a solution. Super proud of our team!

Headed to Vegas this weekend for ICSC, so let’s talk predictions: 1. I think we are going to see a wide gap in retail leasing and sales volume/velocity. It feels like operator tendencies are towards leasing because of the barrier that interest rates are creating. I tell the team everyday, “it’s good to be in retail leasing right now.” It’s where most of our market activity seems to be right now. 2. I predict (and hope) that tenants are going to be foaming at the mouth for spaces. In a market like Austin, retail vacancy is low because new construction product isn’t currently abundant — starts are down. Our team is showing up with a lot of available product to lease and hope we can capitalize on our market share in Austin. 3. We are coming to the show with some really cool projects in the pipeline. Lots of creative developers out there with great plans for great real estate. I think we will see a lot of this, but the question we will continue to hear a lot of will be “When will dirt ultimately start turning for these projects?” 4. Because of the economic hit on brokerages, I unfortunately predict that we may see less people and companies in attendance. HOPEFULLY I’m totally wrong on this, but if companies are cutting expenses this year, they’re probably cutting the conference. 5. And if I had to put my money on it, I predict the Boston Bruins will take it all the way. For my guy Connor Silva. Will report back.

What's a good way to catch a falling knife? Move your feet and let it hit the ground? Have oven mits on? Don't drop it in the first place?! No, but seriously, owner/users, landlord leasing teams, acquisitions officers, and tenants are all struggling with what to do with today's industrial property values and lease rates as we muddle around the bottom of the industrial leasing market. The risk is that you strike a deal today, and tomorrow it's cheaper, and you've done yourself a disservice. For owner/users, they are wondering if property values will get cheaper having already gone down significantly from peak but not below the mean. How do today's values correspond with tomorrow's expectations of interest rates? For landlord leasing teams, can they get out ahead of lease rates dropping more? You'll have a different strategy if you own 100,000 SF in Irvine vs. 100,000 SF in Santa Fe Springs vs. 100,000 SF in San Bernardino. Winning a deal today and having occupancy during a slow part of the market over sitting vacant for 6-12 months and striking a worse deal is a genuine concern. For investors, acquisitions teams, and developers, how comfortable are you that you are buying at a reasonable basis for downside protection? You must underwrite longer lease-up times, uncertain mark-to-market and renewal terms, and exit caps. How patient is your capital? How IRR-driven is your team? Do you need to see the bottom and 10% of the bounce back like Stephen Schwarzman suggests in his book, or are you going to miss out because the flood of capital is back in the game with you? For tenants, some landlords are offering a price match guarantee like the old Circuit City commercials, where you bring in any competitor's offer, and they will match it. If you wait, will that deal go away or get better? In most cases, no one is going to advertise their next new lowest rent or their next new free rent concession. Is a free rent offer of 12 months from one market going to translate into another adjacent market? How does this locations cost fit into your overall supply chain reorganization strategy? At this moment, multiple effective strategies exist for each player in the game, in each geography, and in each size segment. What do you see out there? Grant La Bounty Chris Vassilian #industrialrealestate #supplychain #3pl

‘’How important is the rent roll when buying an existing HMO?’’ - One of our vendors asked me the other day. 🏘 Well... Normally, very! Investors purchasing ready-made HMOs with tenants in situ, are usually looking for a steady return on their capital deployed. 📈 An important step to gauging the return you’ll achieve for a fixed price is by reviewing the full rent ledger data (not just the rent roll), comparing it against existing recurring expenses and creating a rental profit statement for the property. We aim to obtain at least 3 years of historic rental data from the vendors we work with and complete a full review. This is usually really beneficial for not only the potential investor but also the current vendor, as we often find potential to add value in multiple ways, such as: ➡ Highlighting to them that management could be improved.  ➡Replacing an existing tenant with proven repeated arrears to increase saleability. ➡ Evidence that this HMO has potential for continuous income for years from multiple rooms, indicating stable income and a good place for tenants to call home. ➡ Expenses may be reduced. ➡ Rooms are under-rented. Being fully transparent means that any investor that buys with us can have complete peace of mind, and confidence in their decision to acquire, meaning less cold feet ❄ and therefore a better selling experience for the existing landlord too.  If there are skeletons there, it’s important to showcase them, not hide them - they’re often not as big a problem as you might think and there’s always a strategy to remedy them! Has anyone ever experienced HMO sales where the rental income data was of little importance? I’d be interested to learn why! P.s I did NOT graffiti my initials onto the building on the bottom left.... a complete coincidence that I only just noticed when going to post this! P.P.S can anyone recognise this beautiful street in Liverpool? #PropertyForSale #PropertyInvestment #OffMarketProperty #HMOInvestment #HMOProperty #PropertyDeal #PropertyDevelopment #BuyToLet #Landlord #UKProperty #PropertyInvestor #RealEstateInvesting #PropertyManagement #InvestInProperty

How to Sell a Timeshare in Florida the Right Way Contact me to discuss the latest scoop in real estate! #realestate #properties #homesearch #realestateinvesting #housingmarket #passiveincome #downsizing #cashflowinvesting #Homeselling

How to Sell a Timeshare in Florida the Right Way Contact me to discuss the latest scoop in real estate! #Whiteplains #pearlriver #Century21elite #century21 #newyorkrealestate #newyorkrealestateagent #newyorkrealestatebroker #nyrealestate #realestatenyc #manhattanrealestate

🏢💼 Exciting news in the world of Houston real estate! Burlington has announced plans to acquire 15 retail leases from Conn's as part of the latter's bankruptcy proceedings, as reported by The Real Deal. Conn's, headquartered in The Woodlands, has been a staple retailer, and this acquisition by Burlington is a strategic move in expanding its presence and footprint in the retail market. With Burlington's aggressive real estate strategies, this move underscores the dynamic shifts happening in the retail space in Houston and beyond. Such developments present opportunities for growth, innovation, and investment within our vibrant city. For those interested in commercial real estate opportunities or navigating these changes, the landscape is rich with potential. Whether you're looking to invest, lease, or explore new ventures, staying informed is crucial. 🔍 If you're considering your next move in the Houston real estate market, whether commercial or residential, Tevas Real Estate Group is here to help. Connect with us today for expert guidance and personalized service tailored to your needs. Let's explore the opportunities together! #TeVas #tevas #tevasrealty #tevasrealtor #tevasrealestate #tevasrealestategroup #HoustonRealEstate #CommercialRealEstate #RetailLeasing #RealEstateOpportunities #InvestInHoustonhttps://lnkd.in/gRzXgeUf

Have you seen the most recent press we were featured in? Head to our website to read up! 👉 https://lnkd.in/g6Ps6iaK #BoulderRealEstate #CommercialRealEstate #DeanCallanandCo #MarketUpdate #RealEstateTrends #Leasing

Wondering about the latest trends in Whistler and Pemberton real estate? July's stats are in, and as we move through mid-August, the market is gaining momentum. Whether you're buying, selling, or simply exploring, I'm here to provide insights and guide you to the best options. Let’s discuss what works best for you! #MarketInsights #RealEstateUpdate #WhistlerLiving #PembertonHomes #Kyoko_WhistlerRealtor #JapaneseRealtor #WhistlerRealEstate #YourNextMove #WhistlerBlackcomb #PembertonRealEstate #DreamHomeHunt

Curious about the state of the Manhattan real estate market? Our 3Q 2024 report has all the details you need to stay informed and ahead of the game.