Sarofim
Ethnic Retail
Sarofim Realty Advisors seeks acquisition, development, and redevelopment retail opportunities within distinctively ethnic submarkets nationwide. Following is an overview of our acquisition criteria:
Type
Neighborhood and community shopping centers
Trade Area
Densely populated ethnic urban or suburban submarkets comprised of Hispanic, African-American, and Asian-American residents.
|
Population
|
Density
|
Avg. Household Income
|
|
1-mile
|
15K
|
> $40,000
|
|
3-mile
|
50K
|
> $40,000
|
|
5-mile
|
150K
|
> $40,000
|
Acquisition Strategy
Development, redevelopment, or acquisition
Deal Structure
Sarofim will consider redevelopment and development opportunities on a direct basis or in a joint venture with a local operator/developer.
Return Criteria
65% LTV, Leveraged IRR of at least 13.0% on core-plus opportunities and
20% on value-add opportunities based on a five- to seven-year hold.
Minimum Deal Size
50,000 sf and $15M
