Need Advice: Sourcing Industrial Assets Amidst Heavy REPE Competition
Hey WSO community,
I've recently been thrust into a somewhat daunting task and could really use some guidance. I've been quickly tasked with sourcing three industrial assets for our family-run boutique firm. The catch? I know i'm up against two REPE funds that are on the hunt for about fifty assets combined.
One of the main criteria I'm looking for is an asset with highway frontage. Given the aggressive search by these REPE giants, do you think it's feasible for someone like me to find a prime asset without facing immense pressure?
I'll be honest, this task has me quite anxious. The big REPE players have deep pockets and extensive networks, and my initial search on listed sites hasn't yielded anything promising. I've reached out to JLL and CBRE for assistance, but I'm yet to hear back from them.
Feeling a bit isolated in this endeavor. Any advice, contacts, or insights would be greatly appreciated. How do you navigate such a competitive landscape, especially when it feels like David vs. Goliath?
Thanks in advance for your help.
Best,
following
Pm me.
Easy. I can help you find leads. I’ll dm.
You’re in the best buyers market maybe ever. Just submit a bid, you have a shot. Pussy
Not for industrial.. just put something under contract sub 5.3% cap.
A network of loyal brokers to source off-market and/or sending unsolicited offers. Or get creative/overly aggressive with your offers to marketed properties.
The largest institutional firms are pricing so widely. Offering 5.5-6.0% cap rates for assets they would have offered 4.0-4.5% a year and a half ago. They are focused on achieving positive leverage with rent growth within 1-2 years.
If you want to beat the "big boys", be willing to pay up and likely purchase all-equity.
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