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

  • Feb 14 2023
  • Length: 45 mins
  • Podcast

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

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  • Summary

  • 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?

    ARE YOU A PASSIVE INVESTOR LOOKING FOR PRE-VETTING COMMERCIAL MULTIFAMILY INVESTMENT OPPORTUNITIES? VISIT CANOVOCAPITAL.COM TO CONNECT WITH US

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