7 Deals, $220 MM, Moving from Broker to Lead Sponsor, Finding Partners and Deals - with Dan Salonis | TLS243

Dan oversees all aspects of the Progress Realty Partners’ Based out of New Jersey, operations, including investment strategy, asset management and tenant negotiations. June 2019, 7 Properties, 220MM Total 70 Lead sponsor. 

Show Highlights:

• Business Overview
  • Yield Driven Private Equity Firm
    • Industrial, Retail Centers, Multiamily 
  • East Coast, Demographic In
    • Return Focused. 
  • Two main Principals 
    • 22 Employees
      • Debt Brokerage 
• Journey
  • Small Retail Firm
    • Took it from 15 MM to 400MM
    • 2016-2017
  • 2019 -
    • Needed a partner with a 
      • balance sheet
      • Over vision
      • 70% of capital stack is debt
    • Kathy Anderson
      • Debt Brokerage
  • Ideal Opportunity
    • 90% occupied retail
      • Stabilized
      • 10-20 
• Case Study - 143 Units - Winston Salem. 
  • April, C- class, 3 property portfolio, 
  • Marcus and Millichap 
    • Off Market
  • 3.4% Interest 2 years I/o
  • 17-
  • 11 Million - Refinance and Hold. 
• Final Few
  • How do you make the deal sourcing process more efficiently?

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