A client who we have closed five deals with is seeking replacement properties for two large single tenant sales. The first one is a deal of about $31-32 million with at least $5.75 million cash. The sale for that closed December 15th. The second deal is set to close the end of February. It will be approximately $56 million and it has debt of $42-43 million on it. This sale is solid as it is to the existing tenant. This client will buy zero cash flow deals but will consider other properties that fit, including multi-family. Generally, when not buying single tenant properties they are looking for real estate with strong residual value. They are prepared to add cash to the purchases if they like the properties. 

If you have anything which could be of interest, please contact:

Clifford Letovsky
Letovsky Real Estate Corporation
1310 Greene Avenue, Suite 210
Montreal, Quebec H3Z 2B2
Tel. 514 933 4300
Fax 503 501 4965
E-Mail LREC@LREC.CA

While typical single tenant ground leases are of interest (eg. CVS, Walgreens, McDonalds, etc.), we are more interested in finding non-subordinated ground leases for sale under multi-tenant properties (eg. apartment buildings, office buildings, shopping centers, hotels, industrial properties, etc.).  We are interested in the sale of the land only, not the building on top and we are not interested in deals with repurchase options in favour of the tenant (or anyone else) or other clauses which compromise the interest of the land owner.  We are looking for these anywhere in the U.S. or Canada and from small deals to as large as those under major Manhattan properties (in other words, there is no limit as to size, from small to big).   If you have any properties of this nature available, or are looking to acquire them, please contact:

Clifford Letovsky, Letovsky Real Estate Corporation, 1310 Greene Avenue, Suite 210, Montreal, Quebec H3Z 2B2 - Tel. 514 933 4300 - Fax 503 501 4965

E-Mail LREC@LREC.CA

Seeking zero cash flow properties, particularly those with self liquidating debt in place.  Very interested in seasoned deals where phantom income may be coming into play for the owner.  No size limits.

Clifford Letovsky, Letovsky Real Estate Corporation, 1310 Greene Avenue, Suite 210, Montreal, Quebec H3Z 2B2 - Tel.  514 933 4300       - Fax 503 501 4965

E-Mail LREC@LREC.CA