We are a disciplined underwriter, looking to achieve organic growth in our NOI and underwrite this growth over a five-year hold period, although we may exit our ownership in less time or extend our hold period to 10 years. Epic has the ability to close all cash, assume existing financing, place new debt on the purchase pre-closing or creatively structure the purchase to meet the seller’s needs.
- Value-add grocery-anchored, community and necessity-based centers.
- Geographic focus – Top 40 non-gateway markets, select college towns and resort communities and tertiary markets with unique economic drivers
- Minimum deal size – $12,000,000 – $15,000,000; There is no maximum deal size
- Preferred occupancy upon closing – less than 90%
We do not purchase shadow-anchored grocery centers or single-tenant NNN leases.
- Property Description, including age of center, parking lot and roof.
- Site Plan with tenant suite numbers keyed to rent roll.
- Rent Roll reflecting rent steps, renewal options and tenant expense obligations.
- Current and historical operating statements (Argus preferred).
- Tenant sales (current and historical).
- Ad valorem taxes, Insurance costs and Common Area Maintenance expenses.
- Co-tenancy and kick-out provisions.
- Any existing environmental information.
- Property photos.
- 1-3-5 mile demographic reports for the trade area.
- Competition map.
- Existing loan information, including loan balance, name of lender, type of loan structure, interest rate, prepayment or lock-in provisions, cost of loan assumption.