PPG is actively seeking residential vacant land, tear downs, homes in areas for redevelopment, unfinished projects for development, and are always interested in hearing from landowners, agents and brokers who have and represent properties that they are interested in selling. As a developer / builder of new custom homes, acquiring development sites for single custom homes or a sub-division presenting our collection is our target. The PPG Organization is continually seeking new aquisitions throughout the Gold Coast specializing in Fairfield, Southport, Westport, Darien, New Canaan and Greenwich Connecticut for sites with development potential.
• Purchases made on an all-cash basis
• Quick Due-Diligence Period
• Quick Closings
Existing, cash-flowing assets: single tenant net lease, groceryanchored centers, power centers and strip centers. The property must be highly visible, have adequate parking; located on a heavily traveled roadway (i.e. 15,000+ cars per day or greater); and have a population of 50,000+ within 5 miles. Retail centers with extra land, outparcels, or vacancy are preferred. We will also consider portfolios of other properties. Potential transactions for the company may include single assets or portfolio acquisitions. Retail areas from Maine to Florida.
Preferred Deal Specifics:
• Size: $1m-$50mm (will consider smaller or larger on a case-bycase basis)
• Acquisition Stabilized Cap Rate: 8.0%+ on current cash flow (lower current cap rate possible with upside potential)
• Re-Development Cap Rate (aka Build to Cap Rate): 10%+ on projected cash flow • Quality: Class B or better
• Leasing: 60-100% leased • Debt: Purchases made on an all-cash basis are preferred, but will assume existing debt in some cases