Pursuing our Motto - Building the City
Coral’s team analyzes, plans, and enhances the asset value of each project by applying the real estate disciplines to which Coral has always strictly adhered: (I) proactive, hands-on management, (II) knowing the local market, (III) understanding the product and (IV) appropriately and carefully capitalizing each property. We are interested in both retail neighborhood shopping centers and multi-family apartment buildings. The company will consider “value-added” opportunities as well as stabilized income-generating properties. More specifically, Coral’s acquisition criteria include:
- Property Types: Community Shopping Centers and Apartments
- Geographic Focus: (I) Northeast Ohio, (II) Cities throughout Ohio, and (III) Major cities in North Carolina and Texas
- Transaction Size: $2.5 million to $20 million
- Transaction Type: Stabilized or value-added opportunities (low occupancy, deferred maintenance, add-on development/ vacant land)
- Target Leverage: Loan-to-Value
- Return expectations: Minimum 10% current cash-on-cash return (pre-tax)
- Hold Period: AS necessary
- Retail Property Size: 40,000 – 200,000 square feet (Grocery or drugstore anchored neighborhood and community centers)
- Apartments Property Size: 50-250 units