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

The Lead Sponsor - Real Estate Investing Through Syndications and Funds

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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