Lone Star Real Estate
These guys are major players. I'm representing a buyer and writing an offer on a smaller piece that Lone Star is taking to market soon. Small for Lone Star is sub $20mil.
What are these guys like to deal with? Do they defer to their local brokers? Any insight is appreciated.
I have never worked with them but I know the piece(s) you're talking about. Correct me if I am wrong but that property(s) is a small piece of a much larger portfolio of assets they acquired through one of their distressed debt vehicles--I think GE Capital took it back in the last cycle and LoneStar bought the debt last year.
There are so many properties that they picked up....There's no way they know the the ins and outs of every single one. I am sure they know there is meat on the bone but they don't know the neighborhood like someone on the ground.
I would imagine that they're going to like someone with local experience that can sell the value of the asset and the submarket.
Good luck! Hopefully you can get a deal done.
Hehe... Yeah, super small piece relative to what Lone Star does but smoking location and zoning. My client lives in the same zip code and has several successful developments in this zip code. I live less than half a mile away from it.
Thanks bro.
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