Pretty often, owners want to try to prevent their tenants from knowing the building is for sale. I get why this is a concern with market-rate tenants. They are paying full-whack and you want to keep them happy. But, with under-market tenants, this is just insane. What, exactly, are they worried about? That the tenants
We just went under contract to buy a reasonably large non-rent control building in an area we like. The price isn’t a steal by any means, but it’s fair. The reason is that there was no auction. The broker, a reader of this blog, has been managing the building for the seller for a long
Over the past six months, we at Adaptive have got a crash course in tenants-in-common deals and I think this may open a new avenue for growth in our business. To understand why, you first need to understand what a TIC deal is: A tenants-in-common situation is one in which multiple owners possess a property
As the market heats up, am seeing more and more portfolio sales. That’s when an owner decides he’s ready to exit the market and offers up all of his properties for sale together, rather than individually. There are at least three reasons for an owner to do this: He’s not interested in selling part of the
Always, always, always check your Buyer’s estimated closing statement. Why? First, you have to understand what a Buyer’s estimated closing statement is. It’s a piece of paper that shows escrow’s calculation of how much money needs to come in from the buyer to get the deal closed. But wait, you ask, why do we need calculations?