At Fountainhead Commercial, we take pride in our expertise and we are always excited to share what we know with clients looking for investment property insight. When a Costa Rica-based client expressed interest in investing in the United States, they engaged Lowrey Burnett, an expert buyer's representative, to share his experience and expertise in the commercial real estate investment marketplace.
The Situation
The foreign client had a unique investment portfolio already, but sought to enter the American commercial real estate market. After performing a nationwide search for suitable investment options that satisfied the client's specific investment criteria for their first U.S. property, Burnett identified a fully-leased, multi-tenant office asset with national-credit tenant, GoreTex, occupying 75 percent of the property.
The Challenges
Investing in a foreign marketplace, whether in the United States or elsewhere, always poses unique challenges for an investor. Clients often need and want comprehensive insight regarding the various market conditions, influences, and investment options, including details on expected investment returns, types of investment properties and their characteristics, tenants and leasing requirements, as well as the legal, accounting, and financing solutions before making a fully-informed decision. CCIM-designated broker, Burnett, having almost 2 decades of experience in the commercial real estate space, was thrilled to share his best-practices and provide direction regarding the state of the market in various cities in the United States.
Educating a client regarding the commercial real estate investment acquisition process is professionally gratifying for Burnett. As a Certified Commercial Investment Member (CCIM), walking a client through the possible outcomes (Most Likely, Most Aggressive, Most Conservative, etc.), developing an investment strategy together, executing on that strategy, and seeing each client reach their financial objective is why Burnett is passionate about what he does.
The Result
The client was able to close on their first investment acquisition in the United States for a total of $12.2 million. Ultimately, $200,000 was negotiated off the list price to better position the investment for long-term success.
The Stats
Burnett served as the buyer representative during the investment acquisition in Phoenix, Arizona. The client closed on a multi-tenant office building providing an above-market yield.
If you're looking for a CCIM-designated broker to execute a strategy to diversify your investment portfolio, contact Fountainhead Commercial today.
