Top 10 Proeprties of 12-22-09

AHI: Avg Household Income.

1. Townhomes portfolio in Antelope, CA: 23 upgraded 2&3 BR/2.5-3 BA 1,219-1,687 SF townhomes, with select units offering premium features, such as gourmet kitchen, granite counter tops, tile flooring in high-income Sacramento metro. 100% occupied. NOI $249K/yr. $2.967M. 8.4% cap.
2. La Quinta Inn & Suites in Houston, TX: 85-room Hotel built in 2001 on 1.65 acres lot with visibility from I-45 with 2 yrs left on franchise agreement. $4.3M.
3. Family Dollar in Deltona, FL: 9180 SF single-tenant retail building on .89 acre lot. 10 yrs NN lease. NOI $128K/yr. $1.466M. 8.75% cap. Recession insensitive tenant.
4. Apartments in Palm Springs, CA: 11-unit apartments in a wealthy town (AHI $128K/yr within 1 mile ring). 97% occupied. $1.3M.
5. Apartments in Fresno, CA: 61-unit apartments on 1.43 acres lot with covered carports. 99% occupied. $3.9M.
6. Childcare center in West Windsor, NJ: 6500 SF childcare center in an affluent town East of Princeton University (AHI of $172K/yr). New 15 yrs absolute NNN lease from a high quality tenant. NOI $139K/yr with annual rent bump. $1.8M. $7.85% cap.
7. KFC in Indianapolis, IN: 2610 SF franchised restaurant on .9 acre parcel near University of Indianapolis . New 15 yrs absolute NNN lease from a veteran operator with 43 units. NOI $90K/yr. with 10% rent bump every 5 yrs. $1.058M. 8.5% cap.
8. Shopping center in Jonesboro, GA: 16.544 SF retail centers on 2.89 acres outparcels in front of Kroger Supermarkets in Atlanta suburbs. 100% NNN leased by 11 good tenants. NOI $198K/yr. $2.15M. $9.62% cap.
9. Office building in San Jose, CA: 6520 SF 2-story vacant office building constructed in 1987 on .36 acre lot on the busy Saratoga Ave. with excellent demographics (AHI $119K/yr). Ideal for dental and legal services. Price reduced from $1.95M. to $1.65M.
10. Retail Building in Pacific Grove, CA: rare 4119 SF retail center in a wealthy coastal town (AHI $139K/yr within 1 mile ring) just 2 short blocks from the beach in Monterey metro. $995K.
    
    Sales Activities:
    
    1. Medical office building in Lake Mary, FL: 10,744 SF; 8% cap: closed escrow.
    2. Apartments in Clear Lake (Houston), TX: 232-unit on 7.66 acres: closed escrow.
    3. Retail center in Phoenix, AZ: closed escrow.
    4. Family Dollar store in Orlando, FL: $1.738M; 8.75% cap: in contract.
    5. Burger King in Lewisville, TX: LOI accepted.

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