CAPITAL MARKETS // INVESTMENT PROPERTIES
LOS ANGELES RETA I L T EAM
Leaders in Retail Investment Properties
DAN RILEYSenior Vice President Lic. 1057519+1 310 363 4899 [email protected]
For more information, please contact:
AUSTIN WOLITARSKYAssociateLic. 01957206+1 310 363 [email protected]
FRANK CASTANON Desktop Publisher / Researcher+1 818 907 4728 [email protected]
Agoura Design Center Agoura Hills, CA
Abbot Kinney Portfolio Venice, CA
Pacifi c Palisades Village Pacifi c Palisades, CA
Sylmar Town CenterSylmar, CA
Knowledge – Integrity – Results
TEAM OVERV IEW
DAN RILEYDan Riley focuses exclusively on shopping center sales throughout the Western United States with emphasis in greater Los Angeles & Ventura Counties area, with transactions ranging from $2 million to $100 million. An expert in the disposition and acquisition of lifestyle, regional, community, neighborhood, and strip shopping centers, Mr. Riley helps his clients to: maximize asset value, minimize risk, qualify and select the best buyer or best property and ensure a high certainty of closing.
AUSTIN WOLITARSKYAustin Wolitarsky is an Associate with CBRE’s Los Angeles Retail Team. Partnered with Dan Riley, Austin focuses on Due Diligence, Underwriting, Marketing, and Investor Relations. Austin joined the fi rm as a member of the 2014 CBRE “Wheel Program” where he gained experience in multiple aspects of Retail Investment Sales. Austin is a graduate of Loyola Marymount University with a Bachelor’s degree in Entrepreneurship.
DAN RILEYTeam Leader
Primary Contact Client / BuyerStrategy DevelopmentPricing / Underwriting
Property ToursNegotiations
Escrow Management
FINANCIAL CONSULTING
GROUP
CBRE BROKERAGERETAIL
MARKETING DEBT & STRUCTURED FINANCE
ECONOMETRICS INTERNATIONALDESK
After thorough due diligence and input FCG Underwrites and Analyzes assets using Argus to capture maximum
future value for clients
Local Market Knowledge and Expertise
Develops sophisticated marketing campaigns, requests for proposals and team marketing
Buyer Qualifi cationCertainty of Financing ExecutionExtensive Lender Relationships
Formulates market information to support
underwriting and defend assumptions
CBRE International Desk connects foreign capital/investors to United States investment opportunities
AUSTIN WOLITARSKYAssociate
Transaction ManagementPricing / Underwriting
Due Diligence CoordinationMarketing Management
FRANK CASTANONDesktop Publisher / Researcher
Market ReportsOffering Memorandum
E-mail Campaign / Web MarketingComparable Transactions
ACQUSITIONS
REPOSITIONINGS
PORTFOLIOEVALUATIONS
DISTRESSED PROPERTIES
REO/TRUSTEE SALES
FOCUS COMMITMENT DIFFERENCE RESULTS*
*Numbers based since 2000
» Western United States
» Retail Investment Properties
» Dispositions
» Acquisitions
» Strategic Partner
» Maximize Value
» Minimize Risk
» Extensive Experience
» Proven Trusted Advisors
» Collaborative Visionary Approach
» Focused Execution to Close
» 200 Properties Sold
» 12 States
» 2.5 B in Consideration
THE MOST ACTIVE RETAIL INVESTMENT SALES TEAM BASED IN LOS ANGELES
EXPERTISE
DISPOSITIONS
Agoura Design CenterAgoura Hills, CA
Sylmar Town CenterSylmar, CA
Knowledge – Integrity – Results
RANGE AND REACH
3 PROPERTIES
2 PROPERTIES
181 PROPERTIES
1 PROPERTY
1 PROPERTY
2 PROPERTIES
2 PROPERTIES 2 PROPERTIES
1 PROPERTY
3 PROPERTIES
1 PROPERTY 1 PROPERTY
$2.5Bin Consideration
Since 2000
12States Since 2000
200Properties Sold
Since 2000
TRANSACTIONS RECENTLY CLOSED OR IN ESCROW
CLIENTS REPRESENTED
PRIVATE CLIENTS
Caruso Affi liated Holdings
Ezralow Companies
M & H Realty
Primestor Development
Scanlan Kemper Bard
Village Properties
Zinkin Development
100 + Private Individuals/ Developers
INSTITUTIONAL CLIENTS
American Realty Advisors
Burnham Pacifi c
Center Trust
Macerich
MetLife
The Praedium Group
Prudential
Transwestern Investment Company
Weingarten
VENTURA RD & CHANNEL ISLANDS BLVD CENTER133,087 SF | Oxnard, CAIn Escrow
SYLMAR TOWN CENTER148,236 SF | Sylmar, CASold Nov. 2014
PACIFIC PALISADES CLOCK TOWER10,203 SF | Pacifi c Palisades, CASold May 2014
BJ’S RESTAURANT & BREWHOUSE17,000 SF | Woodland Hills, CAIn Escrow
COLLEGE PARK SHOPPING CENTER53,321 SF | Oxnard, CASold Dec. 2014
AGOURA DESIGN CENTER119,306 SF | Agoura Hills, CA Sold Sept. 2014
PACIFIC PALISADES VILLAGE53,321 SF | Oxnard, CASold Dec. 2014
Knowledge – Integrity – Results
RANGE AND REACH
REGIONAL AND GROCERY ANCHORED CENTERS
Sylmar Town CenterSylmar, CA | 148,236 SF
The Village at Indian WellsIndian Wells, CA | 104,589 SF
Kern Valley Plaza Lake Isabella, CA | 131,903 SF
Villaggio Shopping CenterFresno, CA | 176,542 SF
SINGLE TENANT NNN OR NET LEASE
MULTI-TENANT STRIP CENTER
HIGH STREET / HIGH PROFILE RETAIL
Family ChristianPalmdale, CA | 5,500 SF
Palisades Clock TowerPacifi c Palisades, CA | 10,390 SF
The Strand & Pier AveHermosa Beach, CA | 13,970 SF
Walgreens Coronado, CA | 9,490 SF
Bank of America San Diego, CA | 4,800 SF
The Courtyard at the CommonsCalabasas, CA | 89,074 SF
Woodside PlazaCamarillo, CA | 11,891 SF
Abbot Kinney PortfolioVenice | 20,831 SF
Solair St. Collection (retail)Los Angeles, CA | 41,000 SF
Knowledge – Integrity – Results
MARKET ING PROCESS
1
2
3
4
PRE-MARKETING DUE DIL IGENCE / FINANCIAL UNDERWRITINGPrior to putting the property on the market, the Team performs extensive underwriting, reading of the leases and creating detailed rent roll and lease notes, and prepares a cash fl ow analysis using Argus or Excel with the help of the CBRE Financial Consulting Group. This process is designed to ensure probability of receiving sound offers. This allows the Seller to negotiate from a position of strength while reducing the chance of price renegotiations and other unforeseen problems. The Team also conducts an extensive due diligence investigation of the property, reading and abstracting all pertinent documents, to ensure that every aspect of the property is presented in the best possible light to achieve a favorable sales price and high certainty of closing.
OFFERING MEMORANDUMA comprehensive offering memorandum is created and made available in electronic and printed form. The typical OM includes a marketing story with property overview and investment highlights, detailed fi nancial analysis, rent roll, lease notes, area overview, photographs, aerials, tenant profi les, site plan and a property improvements section. The focus of the Offering Memorandum is to provide an accurate assessment of the investment opportunity and compelling reasons to buy the property.
DATABASE – CBRE 360The CBRE LA Retail Team contributes to and has access to a nationwide database called CBRE 360, which contains over 120,000 active investors and 35,000 agents. Investor information is updated in real-time by investors and brokers searching for properties, and the 90 Investment Properties teams in over 50 markets around the country. The database allows investors and brokers to customize their investment criteria to receive information on properties that meet their specifi c needs.
EMAIL CAMPAIGN
An email blast with highlights on the investment opportunity, property overview, pictures of the property, and electronic link to the offering memorandum is mailed to all investors and brokers in CBRE 360 who have indicated an interest in the property type.
5
6
7
9
10
8
WEBSITE – pcgl is t ings.com, cbre.com/invlaretai l , loopnet .comThe property is placed on www.pcglistings.com, a CBRE proprietary listing service. Listing information on the website is maintained by CBRE professionals ensuring accurate and timely property information on over $4.0 billion in listing opportunities. The site is open to private and institutional investors, and brokers. Properties can be searched for by product type, deal size, and location. The website provides an overview of the property, pictures, and contact information. In order to download the offering memorandum, an investor or broker must register and sign a confi dentiality agreement online. In addition to www.pcglistings.com , the property is also placed on www.cbre.com/invlaretail (the CBRE LA Retail Team Web Page) and www.loopnet.com. Listings are periodically advertised in journals, newspapers, and magazines.
PROPERTY HOTSHEET
A monthly email is sent out to investors and brokers with acquisition needs matching the property specifi cs.
PERSONAL CONTACT AND FOLLOW-UP
Websites and emails are sophisticated tools which aid in fast and wide distribution of marketing material. But they are just tools. Obtaining the highest price and achieving certainty of close require interaction and personal attention from experienced brokers.
a. Senior team members contact known potential investors for the property when the deal is fi rst brought to the market.
b. A team member follow up with investors and brokers who have downloaded the offering memorandum and have expressed interest in the property; plus, investors known to have interest in acquiring retail properties.
DETAILED MARKET INFORMATION/PROPERTY TOURS
As part of our in depth offering, Senior Team Members and/or CBRE Local Market Experts will provide buyers with detailed market and tenant information as well as provide any necessary property tours - all tours are closely managed to ensure tenants are not disturbed in any capacity.
BROKER COOPERATION
The CBRE LA Retail Team encourages participation by all brokers and interested parties in the selling process. We actively cooperate with and reach out to outside brokers and other professionals in the commercial real estate industry who have access to potential investors, providing them with marketing materials and other pertinent deal information. This includes mortgage brokers, lenders, 1031 exchange accommodators, appraisers, attorneys, title representatives and escrow offi cers.
TRANSACTION MANAGEMENT AND DEAL CLOSING
In today’s uncertain capital markets environment, brokers must be experienced in all nuances of a real estate transaction in order to get the deal closed. The CBRE LA Retail Team has the proven experience and expertise to deal with all issues that arise during the escrow process. Finding the most qualifi ed buyer for a property raises the degree of certainty of closing. Pushing all participants to the ultimate goal of closing the deal, with a commitment to handling issues professionally and going the extra mile is the team’s methodology. Using a fi rm and professional manner with lenders, title and escrow offi cers, real estate attorneys, outside brokers, tenants, city offi cials, buyers and sellers, The CBRE LA Retail Team makes deals happen.
Knowledge – Integrity – Results
MARKET ING T IMEL INE
DISCOVERY & PRELIMINARY MARKETING
10 – 14 DAYS 21 – 40 DAYS 10 – 14 DAYS
Reduce buyer's due diligence & potential for retradeIbus dolora dolupta ectatiatur sinietur sima
Creates competitive environment/limits buyer contingencies
Maximize Value
MARKETING PROCESS INITIAL OFFERS BEST & FINAL
» Kickoff meeting
» Thorough property due diligence
» Detailed underwriting & evaluation
» Speculative physical due diligence (ALTA, structural & environmental)
» Announcement letter & email
» Set up weekly conference calls & marketing updates with client
» Distribute executive summary & confi dentiality agreements
» Broad based mass exposure to national & international investors
» Distribute comprehensive marketing package & Argus
» Continued discussion with buyers
» Create competitive environment
» Conduct property tours
» Team confi dentiality
» Collect initial offers
» Evaluate offers
» Distribution of due diligence materials
» Best & fi nal bid
» Buyer interviews
» Counter best & fi nal offers
1 2
3 4 5 6 7 8
9 10 11
11 12 13
12 13 14 15
16 17 18 19
(MONTH) (MONTH) (MONTH) (MONTH) (MONTH)
SELECT A BUYERINIT IAL OFFERS
HIGH STREET RETAIL
5 DAYS 21– 60 DAYS 15-30 DAYS
Seller controls terms of transaction Minimize seller's risk Successful transition to new ownership
CONTRACT BUYER'S DUE DILIGENCE/ LOAN ASSUMPTION (if necessary)
CLOSING PROCESS
» Modify seller's prepared purchase & sale agreement with buyers best & fi nal comments
» Open escrow upon delivery of contract & deposit
» Force signifi cant non-refundable deposit
» Overall property review including:– Title & survey– Zoning & city compliance– Environmental– Structural– Loan assumption assistance (if necessary)
» Coordinate transfer of funds & prorations
» Close of escrow
1 2
3 4 5 6 7 8
9 10 11
11 12 13
12 13 14 15
16 17 18 19
(MONTH) (MONTH) (MONTH) (MONTH) (MONTH)
SELECT A BUYER CLOSE OF ESCROWBUYER IS NON-REFUNDABLE
CA Net Leased PortfolioVarious, CA
Abbot Kinney PortfolioVenice, CA
Knowledge – Integrity – Results
VALUE PROPOS I T ION
With over 26 combined years of wide ranging retail real estate experience, the Los Angeles Retail Investment Team (Riley & Wolitarsky) draws upon extensive retail investment property knowledge to offer best in class real estate advisory services to clients ranging from private to institutional investors. We align our goals with our clients by listening, collaborating and executing with meticulous oversight from premarketing due diligence to successful close of escrow which has resulted in over $2 billion worth of closed transactions.
Courtyard at the CommonsCalabasas, CA
FASTER
Spee
d to
the
Mar
ket
» Asset to market in less than one week
» Multiple marketing efforts to local and out-of-state buyers
» Expeditious production of innovative marketing materials
» Create a managed bid process to maximize the seller’s proceeds, tighten due diligence timing and mitigate against any potential retrade
» Extensive exposure creates highest activity thus achieves the optimum value to the seller
» Unequaled access to “top tier” buyers
» Over 120,000 qualifi ed investors and over 35,000 agents in PCG’s shared national CBRE 360 database
» Premium LoopNet exposure
» 1031 exchange program
» Local, regional, and national promotions
FURTHER
Rea
ch t
o In
vest
ors
and
Brok
ers
HIG
HER
Valu
e an
d Pr
icin
g
Knowledge – Integrity – Results
COVERAGE
TRANSACTIONS
excludes 20 countries covered by affi liate offi cesexcludes 100 affi liate offi ces excludes approximately 4,325 affi liate employeesexcludes affi liate sales & leasing professionals; includes approximately 125 mortgage brokerage professionalsincludes 0.26 billion sq. ft. managed by affi liate offi ces
a.b.c.d.
e.
CBRE CORPORATE OVERV IEW
Corporate Locations
Affiliate Locations
2014 GLOBAL FOOTPRINT
includes loan sale advisoryincludes loans serviced by GEMSA, a joint venture between CBRE Capital Markets and GE Capital Real Estateincludes $0.9 billion of Long-Term Operating Assets (projects that have achieved a stabilized level of occupancy or have been held 18-24 months following shell completion or acquisition)includes $17.6 billion of projects that were in process as of December 31, 2014
f. g.
h.
i.
Countries a Offi ces b
SALES LEASING
Employees c
TOTAL TRANSACTION VALUE
ValueTransactions ValueTransactions$284.9B
37244 5 2 0 0,
3.7B SF 134,525$33.8B $144.7B $90.6B $5.4B $40.6B
20,975 $108.0B60,000$176.9B
Property &Corp Facilities
Managed e
Valuation & Advisory
Assignments
LoanOriginations f
LoanServicing g
InvestmentAssets UnderManagement
Developmentin Process h
ProjectManagement
Contract Value i
6,600 Sales & Leasing Professionals d
Only commercial real estate services fi rm included on the Forbes Global 2000 for third year in a row
Top real estate services company in “green” rankings
U.S. EPA 2014 ENERGY STAR for seven consecutive years
Named a World’s Most Ethical Company
Named to Honor Roll for seven consecutive years
All marks displayed on this document are the property of their respective owners.
Only commercial real estate services company in the Fortune 500
Highest ranked real estate services and investment company for four consecutive years
#1 brand for 13 consecutive years
#3 outsourcing company across all industries; #1 among real estate services fi rms for fi ve consecutive years
Global Real Estate Advisor of the Year two years in a row
Corporate Locations
Affiliate Locations
CORPORATE LOCATIONS
AFFILIATE LOCATIONS
GLOBAL RECOGNITION
©2015 CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Los Angeles Retail Team_v02HQ
DAN RILEYSenior Vice President Lic. 1057519+1 310 363 4899 [email protected]
For more information, please contact:
www.cbre.com/invlaretail
AUSTIN WOLITARSKYAssociateLic. 01957206+1 310 363 [email protected]
FRANK CASTANON Desktop Publisher / Researcher+1 818 907 4728 [email protected]
Top Related