OM Template Unecrypted

Metroplex Advisors
COMMERCIAL LENDER REO SERVICES
:: L ENDER S ERVICES D IVISION

Ta b l e o f C o n t e n t s
SERVICE OVERVIEW ::
REO DISPOSITION SEVICES :: 3
PROPERTY MARKETING PLAN :: 4
NOTES TO SAMPLE OFFERING MEMORANDUM :: 5
SAMPLE OFFERING MEMORANDUM (OM) :: 6
2
S E RV I C E OV E RV I E W

REO DISPOSITION SERVICES
• Consistent, quality representation of all assets, regardless of type or value
• Quick, accurate property inspections and BPO’s within 24 – 48 hours
• In‐house appraisal services (CA CGREA License #030989)
• Occupancy status within 24 to 48 hours of receiving the assignment
• Re‐key and trash out /cleaning within 24 to 48 hours of receiving the assignment
• Property management and leasing services
• In‐house general contractor available for renovation and fix‐up construction
• Legal services available to assist with evictions & other complex legal issues
• Complete, accurate accounting and expense management
• Negotiation of contracts within parameters established by the asset manager or bank
43
m e t r o p l e x advisors :: www.MetroplexAdvisors.com

PROPERTY MARKETING PLAN
1. Immediate personalized response by phone during all business hours
2. Exposure on all major commercial search engines
3. Customized property‐specific websites for each asset
4. Email blasts
5. In‐house production of high quality marketing + offering memorandum (see page 6 ‘SAMPLE OM’)
6. Highly visible property signage
7. Multi‐lingual marketing campaigns
8. Newspaper advertising
9. Direct marketing to potential owner‐users and / or investors
10. Networking and full cooperation with all major commercial brokers throughout Southern California
44

NOTES TO SAMPLE OFFERING MEMORANDUM
Please reference the following ‘Sample Offering Memorandum” as an example of the institutional‐level of quality we attain in our marketing
packages. A typical Offering Memorandum contains:
Investment Overview: Investment overview, highlights, and demographics.
Property Location: Regional and local maps.
Property Description: Comprehensive physical description of the subject.
Market Overview: City and county Overview.
Comparable Properties: Lease and sales comparables with accompanying maps.
Financial Analysis: Cash flow analysis (when applicable, Argus discounted cash flow analysis) and rent roll.
“Please note the institutionallevel quality of our marketing package, which we offer at a cost
to your firm significantly lower than higher overhead, less responsive larger agencies.”
65
Metroplex Advisors
SAMPLE OFFERING MEMORANDUM
:: R ETAIL I NVESTMENT O PPORTUNITY

Investment Advisors:
Disclosure
Ryo Takei
DRE. 01277065
CGREA. 030989 The information contained herein is strictly confidential. It is intended for the sole party receiving it directly
213.380.0700 x 104
rtakei@metroplexadvisors.com from Metroplex Advisors, and should not be made available to any other person without the direct consent of
Metroplex Advisors. Neither Metroplex Advisors nor the owner of the business makes any representation or
Michael Park
DRE. 01755275 warranty, expressed or implied, as to the completeness or the accuracy of the material contained.
213.380.0700 x 101
mpark@metroplexadvisors.com
The Metroplex Advisors logo is a service mark of Metroplex, 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.
©2010‐2011 Metroplex Inc.
metroplex
a d v i s o r s
BROKER LIC. 01845052
3530 Wilshire Blvd,. Suite 1610
Los Angeles, CA 90010
T. 213.380.0700
F. 213.559.0996
www.metroplexadvisors.com
Ta b l e o f C o n t e n t s
INVESTMENT OVERVIEW :: 9
PROPERTY LOCATION :: 10
PROPERTY DESCRIPTION :: 11
MARKET OVERVIEW :: 13
COMPARABLE PROPERTIES :: 14
FINANCIAL ANALYSIS :: 16
8
I N V E ST M E N T OV E RV I E W

INVESTMENT SUMMARY
Price $7,834,000 Excellent Los Angeles Location
Price PSF $200 • The shopping center’s location is the “retail core” of Los Angeles,
In‐Place NOI $525,657 one of two main thoroughfares within the City.
In‐Place Capitalization Rate 6.71%
• Pride of ownership project in Los Angele’s established commercial
Stabilized NOI (Year 4) $664,015
Stabilized Capitalization Rate 8.26% hub.
Property Size 39,180 PSF • Extremely supply‐constrained area with high barriers to entry
Land Size 2.0 Acres (87,120 SF) (physically and due to stringent development requirements)
Occupancy 64.61%
making this an irreplaceable asset – limited future competition will
Market Financing (30% LTV) $2,350,148 improve rental growth.

Equity Required $5,710,127 • Situated close to one of the main signalized intersections in the
Interest Rate 6.50% city, Main Street and 3rd Street.
Term 10 Years
• Amenity‐rich location: directly across the street (walking
Amortization Period 25 Years
distance) from the Vons Market; near Staples Center and LA Live;
Investment Highlights national tenants such as Carl’s Jr., Union Bank, Domino’s Pizza,
• Multi‐tenant retail / office center with excellent upside potential
Quiznos, and McDonalds; and many other local Los Angeles staples.
located in Los Angeles.
• Irreplaceable location on Main Street with close proximity to Affluent Demographics, High Real Estate Values
Downtown Los Angeles. • Excellent demographics with approximately 509,700 people and
• 65% occupancy; strong upside potential through lease up. an average household income of $67,900 within a 3‐mile radius of
• Priced below replacement cost at $200 per square foot. the subject property.
• 6.71% cap rate at 65% occupancy; 10.34% cap rate at 100% • The total number of housing units within a 3‐mile radius
occupancy. (including single family residences, condominiums, and apartment
• Excellent tenant mix catering to surrounding business, schools, units) is 143,000.
and residential communities.
9
P R O P E RT Y L O C AT I O N

LOCAL MAP REGIONAL MAP
10
PROPERTY DESCRIPTION

PROPERTY DETAILS
Address 1234 Main Street
Assessor Parcel No. 1234‐123‐123
Land Area 2.0 Acres (87,120 SF)
Building Area 39,180 SF
Levels Two
Year Built / Renovated 1999 / 2007
Parking Ratio 4 per 1,000 SF
11

PROPERTY DETAILS
The subject property was built in 1999 and was renovated in 2007. The capital improvements to the building in 2005
YEAR BUILT
included new siding, paint, and new HVAC units on the roof.
The building is situated above a parking garage and the foundation consists of reinforced steel columns and concrete block
FOUNDATION
walls along the perimeter of the building.
CONSTRUCTION COMPONENTS The construction components include a concrete block, steel, and wood frame with wood beams and plywood roof decking.
Street Level Floor: Reinforced Steel Columns/Piers
FLOOR STRUCTURE
Other Floors: Metal/Wood deck
The exterior wall structure is a combination of concrete block, wood, rind aluminum siding. Retail storefronts are plate glass
EXTERIOR WALLS
set in anodized aluminum frames.
ROOF COVER The building exhibits a flat, wood standing‐seam roof with fiberglass insulation and rolled composition cover.
Floor coverings: Commercial grade short‐loop carpeting over concrete. Some suites have tile and linoleum floor cover.
Walls: Textured and painted sheetrock.
INTERIOR FINISHES
Ceilings: Suspended acoustical tile with grid system.
Lighting: Standard commercial fluorescent fixtures.
Floor coverings: Polished tile and brick in the ground floor lobby and commercial grade short‐loop carpeting over concrete
in the upper level corridors.
INTERIOR FINISHES COMMON AREAS Walls: Textured and painted sheetrock.
Ceilings: Combination textured and painted sheetrock.
Lighting: Standard commercial fluorescent and recessed incandescent fixtures.
The building includes a three‐story atrium located at the main entrance of the building. Additionally, there is an interior
ATRIUM/BALCONY/ MEZZANINE AREAS
balcony on the second floor overlooking the atrium area.
There are four sets of interior stairwells located at various areas of the building. The stairwells are at opposite ends of the
ELEVATOR / STAIR SYSTEM building and in the main lobby area. The building also includes two elevators. The main elevator has a capacity of 3,000 lbs.
dedicated to passenger service. The second elevator serves as a combination passenger/service unit.
HVAC Heating and cooling is provided by a central mechanical plant located on the roof of the building.
Management indicated that the ground floor retail suites are separately metered, but that the second and third floor units
ELECTRICAL
are generally not separately metered.
PLUMBING Plumbing components include a cast iron sanitary sewer system with copper domestic water mains and distribution lines.
Four common area restrooms are located on each floor, except the ground level, which has two common area restrooms
RESTROOMS with one each designated for men's and women's use. The finish of each is considered building standard grade with
linoleum flooring, porcelain fixtures, and mirrored vanities. The restaurant tenant has its own private restrooms.
FIRE PROTECTION The improvements are 100% fire sprinklered via an overhead wet system.
All security features are installed at the discretion of the tenant and are the tenant's sole responsibility and personal
SECURITY
property. There is exterior lighting around the building and in the parking lot.
The property features surface and underground parking spaces inducting reserved handicapped spaces. All parking spaces
and vehicle drives are asphalt paved. Patron parking areas are located to and it consists of a single level of parking. The
PARKING AND DRIVES garage includes an interior elevator at the center of the parking garage that provides access to the front of the building. The
improvements include an underground parking garage the main lobby area. The garage exhibits two entry and exit points to
the main parking lot and features approximately 100 spaces.
12
M A R K E T OV E RV I E W

CITY & COUNTY OVERVIEW
CITY OF LOS ANGELES LOS ANGELES COUNTY
Los Angeles is the largest city in the state of California and the second Los Angeles County is the most populous county in the United States. The
largest in the United States. Often abbreviated as L.A. and nicknamed the county is home to 88 incorporated cities and many unincorporated city‐
City of Angels, Los Angeles has an estimated population of 3.8 million and like areas. Los Angeles County borders 70 miles of coast on the Pacific
spans over 498.9 square miles in Southern California. Additionally, the Ocean and encompasses numerous other natural landscapes including
Los Angeles metropolitan area is home to nearly 12.9 million residents. towering mountain ranges, deep valleys, forests, islands, lakes, rivers, and
Los Angeles is the seat of Los Angeles County, the most populated and one desert. It also includes the westernmost part of the Mojave Desert, San
of the most diverse counties in the United States. As the home base of Clemente Island and Santa Catalina Island in the Pacific Ocean. According
Hollywood, it is known as the “Entertainment Capital of the World”. In to the United States Conference of Mayors, if Los Angeles County were a
2008, Los Angeles was named the world's eighth most economically nation, it would boast a GDP among the twenty largest countries in the
powerful city by Forbes.com, third in the U.S. behind New York City and world.
Chicago. The Los Angeles combined statistical area (CSA) has a gross
metropolitan product (GMP) of $831 billion (as of 2008), making it the Los Angeles County has one of the largest freeway systems in the world,
third largest economic center in the world, after the Greater Tokyo Area with 27 intertwining freeways. Nearly half of the nation's imports and
and the New York metropolitan area. one‐fourth of exports move by road between the nation's two busiest
ports of entry, the Ports of Los Angeles and Long Beach. The fifth busiest
The economy of Los Angeles is driven by international trade, commercial airport in the world is the Los Angeles International Airport
entertainment (television, motion pictures, and recorded music), which handled over 61 million passengers and 2 million tons of cargo in
aerospace, technology, petroleum, fashion, apparel, and tourism. Los 2006.
Angeles is also the largest manufacturing center in the United States. The
contiguous ports of Los Angeles and Long Beach together comprise the
most significant port in North America and one of the most important
ports in the world, and they are vital to trade within the Pacific Rim.
Other significant industries include media production, finance,
telecommunications, law, health and medicine, and transportation.
13
C O M PA R A B L E P R O P E R T I E S

LEASE
AVAILABLE
PROPERTY SF OCCUPANCY MAJOR SPACE
TENANT(S) $ / CAM
RENT / SF
1 LA Center 2,680
1234 Los Angeles Blvd 67,000 96% Ralphs, Dominos, Pinkberry $0.45 CAM
Los Angeles, CA 90005 $2.50
2 Gateway Center 2,476
1234 1st Street 16,505 85% Local Tenants $0.70 CAM
3 Metroplex Plaza 18,600
1234 Metroplex Blvd 60,000 69% Sporting Good, Subway, Autozone $0.50 CAM
4 California Plaza 9,504
1234 California Blvd 29,700 68% Local Tenants $0.45 CAM
5 Central Center 2,108
1234 Central Ave. 13,175 84% Starbucks $0.60 CAM
6 The Village 3,383
1234 Village Road 16,914 80% Local Tenants $0.65 CAM
AVERAGE 33,882 80%
SUBJECT 39,180 65%
14
C O M PA R A B L E P R O P E R T I E S

SALES
PROPERTY SF OCCUPANCY MAJOR Sales Date

TENANT(S) $ / SF
Sales Price
1 Center de LA 01/15/2010
1234 Los Angeles Blvd 50,000 96% Vons, Burger King, Coffee Bean $250 PSF
Los Angeles, CA 90005 $12,500,000
2 1st Plaza 02/17/2010

1234 1st Street 24,205 85% Local Tenants $210PSF
Los Angeles, CA 90015 $5,090,000
3 Metroplex Plaza 03/20/2010
Sporting Good, Subway,
1234 Metroplex Blvd 60,000 69% $190 PSF
Autozone
Los Angeles, CA 90010 $5,940,000
4 City Center 05/02/2010

1234 California Blvd 29,700 68% Local Tenants $210 PSF
Los Angeles, CA 90010 $6,237,000
5 Yes Plaza 07/29/2010
1234 Central Ave. 13,175 84% Starbucks $250 PSF
Los Angeles, CA 90010 $3,300,000
6 The Village 09/17/2010
1234 Village Road 16,914 80% Local Tenants $230 PSF
Los Angeles, CA 90005 $3,890,000
AVERAGE 33,882 80% $223 PSF
SUBJECT 39,180 65% $200 PSF
15
F I N A N C I A L A N A LY S I S

EXECUTIVE SUMMARY
Property Type Retail Size of Improvements 39,180 PSF
Property Owner Currently Vacant as of 09/01/10 13,865 PSF
Property Address 1234 Main Street Current Occupancy as of 09/01/10 64.61%
Los Angeles, CA
ACQUISITION AND RESIDUAL SUMMARY LEVERAGE SUMMARY
MARKET REFINANCING
Purchase Price as of October 1, 2010 $200 PSF $7,834,000 Initial Loan Funding (as of Oct‐10) $2,350,148
Costs to Stabilize Loan‐To‐Total Value/Investment 29.24%
Lease‐Up Downtime (7.5 Months) 175,675 Loan‐To‐Price 30.00%

Tenant Improvement 5,285 Funding Date Oct‐10
Leasing Commissions 21,814 Maturity Date Sep‐20
Total Costs to Stabilize $202,774 Loan Term 10 Years
Total Investment $205.12 $8,036,774 Amortization Period 25 Years
Initial Interest Only Period (If Any) ‐
Year 1 Year 2 Year 3 Interest Rate 6.50%
Capitalization Rate 6.86% 8.17% 8.21%
Cash Return 6.52% 7.65% 7.74% Origination Fee on Initial Loan Funding 1.00%
Leveraged Cash Return 5.84% 7.43% 7.55% Loan Constant 8.10%

Stabilized Leverage Cash Return 6.32% 8.17% 8.23% Debt Service Coverage Ratio (NOI) 2.89 x
Debt Service Coverage Ratio (CF) 2.75 x
3‐Year 5‐Year 7‐Year

Average Capitalization Rate 7.75% 7.97% 8.16%
Average Cash Return 7.30% 7.62% 7.77%
Average Leveraged Cash Return 6.94% 7.38% 7.60%
Net Residual Value as of September 30, 2020 $10,600,000 Total Investment as of October, 2010 $8,036,774

Net Residual Per Square Foot $271 Total Initial Loan Principal (2,350,148)
Residual Capitalization Rate 7.50% Total Initial Loan Fees 23,501
Residual Cost of Sale 4.00% Holdbacks and Escrows 0
Initial Equity $5,710,127
ALL CASH IRR 9.80% LEVERAGED IRR 10.84%

16

CASH FLOW PROJECTIONS
GLOBAL VACANT SPACE LEASING LEASING ASSUMPTION
Analysis Period Occupancy and Absorption 1st Floor Inline 1st FloorEndcap 1st Fl Elbow Restaurant 2nd Floor
Renewal Probability
Commencement Date October 1, 2010 Projected Vacant at 10/01/10 13,865 SF 70% 70% 60% 70% 60%
Currently Vacant as of
End Date September 30, 2020 13,865 SF
09/01/10
Term 20 Years Percentage Vacant at 09/01/10 35.39% Financial Terms
Months Vacant Period 6‐9 Month(s) 2010 Monthly Market Rent $1.80 PSF $1.85 PSF $0.70 PSF $2.0 PSF $1.25 PSF
Area Measures Rent Adjustment 3.00% Annually 3.00% Annually 3.00% Annually 3.00% Annually 3.00% Annually
Building Square Feet (NRSF) 39,180 SF EXPENSES Lease Term 4 Years 4 Years 4 Years 5 Years 3 Years

Expense Reimbursement
NNN NNN NNN NNN NNN
Type
Inflation Rates Operating Expense Source 2010 Budget
Consumer Price Index 3.00% Tenanting Costs
Other Income Growth Rate 3.00% Management Fee (% of EGR) 3.50% Renting Abatements
Operating Expenses 3.00% New 0 Months(s) 0 Months(s) 0 Months(s) 0 Months(s) 1 Months(s)
Real Estate Taxes 2.00% Real Estate Reassessed Yes Renewal 0 Months(s) 0 Months(s) 0 Months(s) 0 Months(s) 1 Months(s)
Market Rent Growth Millage Rate 1.20% Weighted Average 0 Months(s) 0 Months(s) 0 Months(s) 0 Months(s) 1.00 Months(s)
CY 2011 3.00%
Tenant Improvements
CY 2012 3.00%
($/NRSF)
CY 2013 3.00% New $1.00 PSF $1.00 PSF $1.00 PSF $1.00 PSF $1.00 PSF
CY 2014 3.00% Renewal $0.00 PSF $0.00 PSF $0.00 PSF $0.00 PSF $0.00 PSF
CY 2015 3.00% Weighted Average $0.30 PSF $0.30 PSF $0.40 PSF $0.30 PSF $0.40 PSF
CY 2016 3.00%
CY 2017 3.00% Commissions
CY 2018 3.00% New 6.00% 6.00% 6.00% 6.00% 6.00%
CY 2019 3.00% Renewal 3.00% 3.00% 3.00% 3.00% 3.00%
CY 2020 + 3.00% Weighted Average 3.90% 3.90% 4.20% 3.90% 4.20%
General Vacancy Rate (CY 2010 Value) 10.00% Downtime
New 6 Months(s) 6 Months(s) 9 Months(s) 6 Months(s) 6 Months(s)
Capital Reserves $.20 PSF Weighted Average 2 Months(s) 2 Months(s) 4 Months(s) 2 Months(s) 2 Months(s)
17

CASH FLOW PROJECTIONS
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Reversion
For the Years Ending
Sep‐2011 Sep‐2012 Sep‐2013 Sep‐2014 Sep‐2015 Sep‐2016 Sep‐2017 Sep‐2018 Sep‐2019 Sep‐2020 Sep‐2021
Potential Gross Revenue
Base Rental Revenue $810,364 $802,891 $788,651 $784,636 $801,920 $822,268 $844,975 $871,750 $898,722 $925,046 $952,578
Absorption & Turnover Vacancy (184,603) (95,618) (35,198) (9,726) (27,765) (51,873) (32,477) (21,168) (56,773) (33,618) (34,829)
Base Rent Abatements (5,331) (4,863) (6,121) (13,244) (5,314) (4,690) (16,532) (5,806) (5,124)
Scheduled Base Rental Revenue 625,761 707,273 748,122 770,047 768,034 757,151 807,184 845,892 825,417 885,622 912,625
Expense Reimbursement Revenue
Property Taxes 67,110 81,781 92,657 98,248 98,235 96,203 101,730 105,250 103,015 110,711 119,097
Insurance 11,190 13,768 15,757 16,867 17,031 16,843 17,983 18,793 18,573 19,737 20,088
Repairs and Maintenance 27,974 34,420 39,393 42,167 42,579 42,110 44,959 46,976 46,425 49,346 50,218
Management Fee 20,279 26,131 30,834 31,924 31,604 31,335 33,310 35,109 34,322 36,554 37,550
CAM 41,967 51,626 59,084 63,253 63,866 63,164 67,440 70,463 69,628 74,021 75,332
Total Reimbursement Revenue 168,520 207,726 237,725 252,459 253,315 249,655 265,422 276,591 271,963 290,369 302,285
Total Potential Gross Revenue 794,281 914,999 985,847 1,022,506 1,021,349 1,006,806 1,072,606 1,122,483 1,097,380 1,175,991 1,214,910
General Vacancy (5,444) (66,907) (93,497) (77,146) (53,995) (78,031) (93,197) (58,642) (87,343) (90,145)
Effective Gross Revenue 794,281 909,555 918,940 929,009 944,203 952,811 994,575 1,029,286 1,038,738 1,088,648 1,124,765
Operating Expenses
Property Taxes 94,004 95,884 97,802 99,758 101,753 103,788 105,864 107,981 110,140 112,343 127,193
Insurance 15,672 16,142 16,626 17,125 17,639 18,168 18,713 19,275 19,853 20,448 21,062
Repairs and Maintenance 39,180 40,355 41,566 42,813 44,097 45,420 46,783 48,186 49,632 51,121 52,655
Management Fee 27,800 31,834 32,163 32,515 33,047 33,348 34,810 36,025 36,356 38,103 39,367
CAM 58,770 60,533 62,349 64,220 66,146 68,131 70,174 72,280 74,448 76,682 78,982
Reserves 7,836 8,071 8,313 8,563 8,819 9,084 9,357 9,637 9,926 10,224 10,531
Total Operating Expenses 243,262 252,819 258,819 264,994 271,501 277,939 285,701 293,384 300,355 308,921 329,790
Net Operating Income $551,019 $656,736 $660,121 $664,015 $672,702 $674,872 $708,874 $735,902 $738,383 $779,727 $794,975
Leasing & Capital Costs
Tenant Improvements 5,285 6,077 7,129 1,556 3,247 5,864 3,807 2,546 7,435 3,833 4,388
Leasing Commissions 21,814 35,885 31,270 7,371 24,475 39,493 24,023 23,576 50,332 32,332 30,170
Total Leasing & Capital Costs 27,099 41,962 38,399 8,927 27,722 45,357 27,830 26,122 57,767 36,165 34,558
Operating Cash Flow $523,920 $614,774 $621,722 $655,088 $644,980 $629,515 $681,044 $709,780 $680,616 $743,562
Acquisition & Residual Sale
Total Investment ($8,036,774) 0 0 0 0 0 0 0 0 0 0 All Cash
Residual Value [1] 0 0 0 0 0 0 0 0 0 0 10,417,878 IRR
Cash Flow Before Debt Service ($8,036,774) $523,920 $614,774 $621,722 $655,088 $644,980 $629,515 $681,044 $709,780 $680,616 $11,161,440 9.80%
Debt Service
Loan Funding / Payoff 2,350,148 0 0 0 0 0 0 0 0 0 1,821,631
Loan Fees (23,501) 0 0 0 0 0 0 0 0 0 0
Interest Payments 0 151,617 149,018 146,246 143,287 140,131 136,763 133,169 129,335 125,244 120,879
Principal Payments 0 38,803 41,402 44,175 47,133 50,290 53,658 57,251 61,086 65,177 69,542 Leveraged
Annual Debt Service 0 190,420 190,420 190,421 190,420 190,421 190,421 190,420 190,421 190,421 190,421 IRR
Cash Flow After Debt Service ($5,710,127) $333,500 $424,354 $431,301 $464,668 $454,559 $439,094 $490,624 $519,359 $490,195 $9,149,388 10.84%
Capitalization Rate 6.86% 8.17% 8.21% 8.26% 8.37% 8.40% 8.82% 9.16% 9.19% 9.70% 9.89%
Cash Return 6.52% 7.65% 7.74% 8.15% 8.03% 7.83% 8.47% 8.83% 8.47% 9.25% 0.00%
Leverage Cash Return 5.84% 7.43% 7.55% 8.14% 7.96% 7.69% 8.59% 9.10% 8.58% 160.23% 0.00%
[1] Net Residual Value is calculated by dividing Year 11 NOI (less reserves) by the Residual Cap Rate and applying 3.00% Cost of Sale.
18

RENT ROLL
Square Lease Term Rental Rates Recovery Rent Abatement Tenant Leasing Market Assumption / Market
Suite Tenant Name % of Property Comments/Options
Feet Type Improvements Commissions Rent
Begin End Begin Monthly PSF Annually PSF Month # % Abated
101 Hair Salon 1,030 2.63% Oct‐2008 Sep‐2013 Current $2,451 $2.38 $29,407 $28.55 NNN Market
Tenant has one (1) 5‐year option at FMV
Oct‐2011 $2,524 $2.45 $30,282 $29.40 $1.80 NNN (1st Fl‐Inline)
with 180 days notice.
Oct‐2012 $2,600 $2.52 $31,199 $30.29
101A Vacant 600 1.53% Mar‐2011 Feb‐2015 Mar‐2011 $1,110 $1.85 $13,320 $22.20 NNN $1.00 $5.57 Market
Mar‐2012 $1,143 $1.91 $13,720 $22.87 $600 $3,344 $1.85 NNN (1st Fl‐End‐Cap)
Mar‐2013 $1,178 $1.96 $14,131 $23.55 6.00%
Mar‐2014 $1,213 $2.02 $14,555 $24.26
102 Fine Jewelry 1,180 3.01% Apr‐2006 Mar‐2011 Current $2,879 $2.44 $34,548 $29.28 NNN Market
Tenant has one (1)‐4 year option at FMV
$1.80 NNN (1st Fl‐Inline) with 180 days notice.
103 Fashion Boutique 1,400 3.57% Dec‐2004 Nov‐2012 Current $2,874 $2.05 $34,482 $24.63 NNN Market
Dec‐2010 $2,960 $2.11 $35,518 $25.37 $1.80 NNN (1st Fl‐Inline)
$3,049 $2.18 $36,582 $26.13
104 Optometry 1,180 3.01% Apr‐2009 Mar‐2014 Current $2,945 $2.50 $35,341 $29.95 NNN Market
Apr‐2011 $3,034 $2.57 $36,403 $30.85 $1.80 NNN (1st Fl‐Inline) Tenant has one (1) 5‐year option at FMV

Apr‐2012 $3,124 $2.65 $37,489 $31.77
Apr‐2013 $3,218 $2.73 $38,621 $32.73
105 Luxury Handbag 800 2.04% May‐2006 Apr‐2011 Current $2,198 $2.75 $26,376 $32.97 NNN Market
$1.80 NNN (1st Fl‐Inline)
106 Sublessee 690 1.76% Oct‐2010 Sep‐2011 Oct‐2010 $1,456 $2.11 $17,471 $25.32 NNN Market
$0.70 NNN (1st Fl‐Elbow)
107 Music Center 2,280 5.82% Jul‐2010 Jun‐2013 Current $1,596 $0.70 $19,152 $8.40 NNN Market
Jul‐2011 $1,644 $0.72 $19,722 $8.65 $1.80 NNN (1st Fl‐Inline)
Jul‐2012 $1,693 $0.74 $20,315 $8.91
107A Barber Shop (MTM) 500 1.28% Aug‐2010 Jul‐2012 Current $1,182 $2.36 $14,185 $28.37 NNN Market
$1.80 NNN (1st Fl‐Inline) with 180 days notice.
107B Cleaners 500 1.28% Apr‐2005 Mar‐2011 Current $1,196 $2.39 $14,350 $28.70 NNN Market
$1.80 NNN (1st Fl‐Inline)
108 Vacant 820 2.09% Oct‐2011 Sep‐2015 Oct‐2011 $1,517 $1.85 $18,204 $22.20 NNN $1.03 $5.58 Market
Oct‐2012 $2,337 $2.85 $28,044 $34.20 $845 $4,519 $1.80 NNN (1st Fl‐Inline)
Oct‐2013 $3,157 $3.85 $37,884 $46.20 6.00%
Oct‐2014 $3,977 $4.85 $47,724 $58.20
109A Video Store 935 2.39% May‐2002 Apr‐2012 Current $2,487 $2.66 $29,845 $31.92 NNN Market
May‐2011 $2,562 $2.74 $30,743 $32.88 $1.80 NNN (1st Fl‐Inline)
9
19

RENT ROLL CONTINUED
Feet Begin End Begin Monthly PSF Annually PSF Type Month # % Abated Improvements Commissions Rent
109B Vacant 735 1.88% Mar‐2011 Feb‐2015 Mar‐2011 $1,323 $1.80 $15,876 $21.60 NNN $1.00 $5.42 Market
Mar‐2012 $1,360 $1.85 $16,317 $22.20 $735 $3,985 $1.80 NNN (1st Fl‐Inline)
Mar‐2013 $1,404 $1.91 $16,846 $22.92 6.00%
Mar‐2014 $1,448 $1.97 $17,375 $23.64
110 Bakery 1,390 3.55% Apr‐2006 Mar‐2011 Current $4,224 $3.04 $50,688 $36.47 NNN Market Tenant has one (1) 5‐year option at FMV
$0.90 NNN (Bakery) with 180 days notice.
111 Cell Phone Store 840 2.14% Sep‐2004 Aug‐2012 Current $2,234 $2.66 $26,804 $31.91 NNN Market
Sep‐2011 $2,301 $2.74 $27,611 $32.87 $1.80 NNN (1st Fl‐Inline)
Oct‐2012 $1,604 $1.91 $19,253 $22.92 $865 $4,691 $1.80 NNN (1st Fl‐Inline)
Jan‐1900 $1,655 $1.97 $19,858 $23.64 6.00%
Oct‐2012 $1,705 $2.03 $20,462 $24.36
113 Vitamin + Health Store 920 2.35% Sep‐2008 Aug‐2013 Current $2,033 $2.21 $24,398 $26.52 NNN Market
Sep‐2010 $2,094 $2.28 $25,125 $27.31 $1.80 NNN (1st Fl‐Inline) Tenant has one (1)‐5 year option at FMV

Sep‐2011 $2,157 $2.34 $25,880 $28.13 with 180 days notice.
Sep‐2012 $2,222 $2.42 $26,662 $28.98
114/115 Korean Restaurant 2,340 5.97% Jul‐2007 Jun‐2012 Current $4,064 $1.74 $48,766 $20.84 NNN Market
Jul‐2011 $4,185 $1.79 $50,216 $21.46 $2.00 NNN (Restaurant)
116 Korean BBQ ‐ (PAD) 2,550 6.51% Jan‐2002 Dec‐2012 Current $6,660 $2.61 $79,917 $31.34 NNN Market
Tenant has two (2) 5‐year options at FMV
Jan‐2011 $6,860 $2.69 $82,314 $32.28 $2.00 NNN (Restaurant)
Jan‐2012 $7,066 $2.77 $84,788 $33.25
201/202 Vacant 1,160 2.96% Mar‐2013 Feb‐2016 Mar‐2013 $1,543 $1.33 $18,514 $15.96 NNN $1.06 $2.95 Market
Mar‐2014 $1,589 $1.37 $19,070 $16.44 $1,231 $3,423 $1.25 NNN (2nd Floor)
Mar‐2015 $1,636 $1.41 $19,627 $16.92 6.00%
203 Tax Services (MTM) 610 1.56% Aug‐2010 Jul‐2012 Current $1,071 $1.76 $12,852 $21.07 NNN Market
$1.25 NNN (2nd Floor)
204 Vacant 710 1.81% Mar‐2011 Feb‐2014 Mar‐2011 $888 $1.25 $10,650 $15.00 NNN $1.00 $2.78 Market
Mar‐2012 $916 $1.29 $10,991 $15.48 $710 $1,975 $1.25 NNN (2nd Floor)
Mar‐2013 $944 $1.33 $11,332 $15.96 6.00%
205 International Investments 600 1.53% Aug‐2010 Jul‐2012 Current $788 $1.31 $9,456 $15.76 NNN Market
Aug‐2011 $812 $1.35 $9,738 $16.23 $1.25 NNN (2nd Floor)
206 Investment Office 600 1.53% Jun‐2009 May‐2012 Current $788 $1.31 $9,456 $15.76 NNN Market Tenant has one (1) 3‐year option at FMV
Jun‐2011 $812 $1.35 $9,738 $16.23 $1.25 NNN (2nd Floor) with 180 days notice.
20

RENT ROLL CONTINUED
Mar‐2014 $1,671 $1.37 $20,057 $16.44 $1,294 $3,600 $1.25 NNN (2nd Floor)
Mar‐2015 $1,720 $1.41 $20,642 $16.92 6.00%
Oct‐2012 $1,091 $1.33 $13,087 $15.96 $845 $2,350 $1.25 NNN (2nd Floor)
Oct‐2013 $1,123 $1.37 $13,481 $16.44 6.00%
210 Courier Services 700 1.79% Jun‐2009 May‐2012 Current $882 $1.26 $10,584 $15.12 NNN Market Tenant has one (1) 3‐year option at FMV
Jun‐2011 $908 $1.30 $10,899 $15.57 $1.25 NNN (2nd Floor) with 180 days notice.
Mar‐2012 $798 $1.29 $9,579 $15.45 $620 $1,725 $1.25 NNN (2nd Floor)
Mar‐2013 $825 $1.33 $9,895 $15.96 6.00%
212 Vacant 690 1.76% Oct‐2011 Sep‐2014 Oct‐2011 $890 $1.29 $10,681 $15.48 NNN $1.03 $2.87 Market
Oct‐2012 $918 $1.33 $11,012 $15.96 $711 $1,977 $1.25 NNN (2nd Floor)
Oct‐2013 $945 $1.37 $11,344 $16.44 6.00%
Mar‐2012 $864 $1.29 $10,372 $15.48 $670 $1,864 $1.25 NNN (2nd Floor)
Mar‐2013 $891 $1.33 $10,693 $15.96 6.00%
Oct‐2012 $1,104 $1.33 $13,247 $15.96 $855 $2,378 $1.25 NNN (2nd Floor)
Oct‐2013 $1,137 $1.37 $13,645 $16.44 6.00%
215‐217 Insurance Offices 2,550 6.51% Jun‐2009 Jul‐2012 Current $2,984 $1.17 $35,802 $14.04 NNN Market
Jun‐2011 $3,132 $1.23 $37,587 $14.74 $1.25 NNN (2nd Floor)
Mar‐2012 $916 $1.29 $10,991 $15.48 $710 $1,975 $1.25 NNN (2nd Floor)
Mar‐2013 $944 $1.33 $11,332 $15.96 6.00%
219 Vacant 710 1.81% Oct‐2011 Sep‐2014 Oct‐2011 $916 $1.29 $10,991 $15.48 NNN $1.03 $2.86 Market
Oct‐2012 $944 $1.33 $11,332 $15.96 $731 $2,034 $1.25 NNN (2nd Floor)
Oct‐2013 $973 $1.37 $11,672 $16.44 6.00%
Market
220 Learning Center 860 2.19% Aug‐2010 Dec‐2015 Aug‐2010 $1,342 $1.56 $16,108 $18.73 NNN $1.25 NNN (2nd Floor)
Aug‐2011 $1,382 $1.61 $16,589 $19.29
Jan‐1900 $1,424 $1.66 $17,088 $19.87
Aug‐2011 $1,466 $1.71 $17,596 $20.46
Jan‐1900 $1,511 $1.76 $18,129 $21.08
Aug‐2011 $1,556 $1.81 $18,671 $21.71
21

RENT ROLL CONTINUED
220 Learning Center 860 2.19% Aug‐2010 Dec‐2015 Aug‐2010 $1,342 $1.56 $16,108 $18.73 NNN Market
Aug‐2011 $1,382 $1.61 $16,589 $19.29 $1.25 NNN (2nd Floor)
Jan‐1900 $1,424 $1.66 $17,088 $19.87
Aug‐2011 $1,466 $1.71 $17,596 $20.46
Jan‐1900 $1,511 $1.76 $18,129 $21.08
Aug‐2011 $1,556 $1.81 $18,671 $21.71
221 Law Offices (MTM) 860 2.19% Aug‐2010 Jul‐2012 Current $1,344 $1.56 $16,128 $18.74 NNN Market
Aug‐2011 $1,385 $1.61 $16,615 $19.32 $1.25 NNN (2nd Floor)
Mar‐2014 $2,576 $1.37 $30,907 $16.44 $1,994 $5,548 $1.25 NNN (2nd Floor)
Jan‐1900 $2,651 $1.41 $31,810 $16.92 6.00%
224 Vacant 850 2.17% Mar‐2011 Feb‐2014 Mar‐2011 $1,063 $1.25 $12,750 $15.00 NNN $1.00 $2.78 Market
Mar‐2012 $1,097 $1.29 $13,158 $15.48 $850 $2,365 $1.25 NNN (2nd Floor)
Jan‐1900 $1,131 $1.33 $13,566 $15.96 6.00%
TOTAL / AVERAGES 39,180 $48,220 $1.93 $578,645 $23.14
OCCUPIED SF 25,315 64.61%
VACANT SF 13,865 35.39%
TOTAL SF 39,180 100.00%
22
:: R ETAIL I NVESTMENT O PPORTUNITY

OM Template Unecrypted

Hochgeladen von

Dokumentinformationen

Originalbeschreibung:

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

OM Template Unecrypted

Hochgeladen von

Copyright:

Verfügbare Formate

Metroplex Advisors

COMMERCIAL LENDER REO SERVICES

:: L ENDER S ERVICES D IVISION

COMMERCIAL LENDER REO SERVICES

COMMERCIAL LENDER REO SERVICES

COMMERCIAL LENDER REO SERVICES

SAMPLE OFFERING MEMORANDUM

:: R ETAIL I NVESTMENT O PPORTUNITY

©2010‐2011 Metroplex Inc.

SAMPLE OFFERING MEMORANDUM

Market Financing (30% LTV) $2,350,148 improve rental growth.

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

PROPERTY SF OCCUPANCY MAJOR Sales Date

2 1st Plaza 02/17/2010

4 City Center 05/02/2010

SAMPLE OFFERING MEMORANDUM

Property Type Retail Size of Improvements 39,180 PSF

Property Owner Currently Vacant as of 09/01/10 13,865 PSF

Property Address 1234 Main Street Current Occupancy as of 09/01/10 64.61%

Costs to Stabilize Loan‐To‐Total Value/Investment 29.24%

Lease‐Up Downtime (7.5 Months) 175,675 Loan‐To‐Price 30.00%

Cash Return 6.52% 7.65% 7.74% Origination Fee on Initial Loan Funding 1.00%

Leveraged Cash Return 5.84% 7.43% 7.55% Loan Constant 8.10%

3‐Year 5‐Year 7‐Year

Net Residual Value as of September 30, 2020 $10,600,000 Total Investment as of October, 2010 $8,036,774

ALL CASH IRR 9.80% LEVERAGED IRR 10.84%

SAMPLE OFFERING MEMORANDUM

Analysis Period Occupancy and Absorption 1st Floor ­ Inline 1st Floor­End­cap 1st Fl ­ Elbow Restaurant 2nd Floor

Months Vacant Period 6‐9 Month(s) 2010 Monthly Market Rent $1.80 PSF $1.85 PSF $0.70 PSF $2.0 PSF $1.25 PSF

Area Measures Rent Adjustment 3.00% Annually 3.00% Annually 3.00% Annually 3.00% Annually 3.00% Annually

Building Square Feet (NRSF) 39,180 SF EXPENSES Lease Term 4 Years 4 Years 4 Years 5 Years 3 Years

Consumer Price Index 3.00% Tenanting Costs

Other Income Growth Rate 3.00% Management Fee (% of EGR) 3.50% Renting Abatements

Operating Expenses 3.00% New 0 Months(s) 0 Months(s) 0 Months(s) 0 Months(s) 1 Months(s)

Market Rent Growth Millage Rate 1.20% Weighted Average 0 Months(s) 0 Months(s) 0 Months(s) 0 Months(s) 1.00 Months(s)

CY 2014 3.00% Renewal $0.00 PSF $0.00 PSF $0.00 PSF $0.00 PSF $0.00 PSF

CY 2015 3.00% Weighted Average $0.30 PSF $0.30 PSF $0.40 PSF $0.30 PSF $0.40 PSF

CY 2017 3.00% Commissions

CY 2018 3.00% New 6.00% 6.00% 6.00% 6.00% 6.00%

CY 2019 3.00% Renewal 3.00% 3.00% 3.00% 3.00% 3.00%

CY 2020 + 3.00% Weighted Average 3.90% 3.90% 4.20% 3.90% 4.20%

General Vacancy Rate (CY 2010 Value) 10.00% Downtime

New 6 Months(s) 6 Months(s) 9 Months(s) 6 Months(s) 6 Months(s)

Capital Reserves $.20 PSF Weighted Average 2 Months(s) 2 Months(s) 4 Months(s) 2 Months(s) 2 Months(s)

SAMPLE OFFERING MEMORANDUM

SAMPLE OFFERING MEMORANDUM

Mar‐2012 $1,143 $1.91 $13,720 $22.87 $600 $3,344 $1.85 NNN (1st Fl‐End‐Cap)

Mar‐2013 $1,178 $1.96 $14,131 $23.55 6.00%

Mar‐2014 $1,213 $2.02 $14,555 $24.26

Dec‐2010 $2,960 $2.11 $35,518 $25.37 $1.80 NNN (1st Fl‐Inline)

$3,049 $2.18 $36,582 $26.13

Apr‐2011 $3,034 $2.57 $36,403 $30.85 $1.80 NNN (1st Fl‐Inline) Tenant has one (1) 5‐year option at FMV

Apr‐2013 $3,218 $2.73 $38,621 $32.73

Oct‐2012 $2,337 $2.85 $28,044 $34.20 $845 $4,519 $1.80 NNN (1st Fl‐Inline)

Oct‐2013 $3,157 $3.85 $37,884 $46.20 6.00%

Oct‐2014 $3,977 $4.85 $47,724 $58.20

May‐2011 $2,562 $2.74 $30,743 $32.88 $1.80 NNN (1st Fl‐Inline)

SAMPLE OFFERING MEMORANDUM

Analysis Period Occupancy and Absorption 1st Floor Inline 1st FloorEndcap 1st Fl Elbow Restaurant 2nd Floor