Donahue Schriber develops and acquires anchored neighborhood, community and power retail
centers in the Western United States. The company is structured as a private real
estate investment trust (REIT) with headquarters in Costa Mesa, California.
Size of Deal
Generally, Donahue Schriber is interested in acquiring anchored centers with a minimum
GLA of 75,000 square feet and a minimum value of $15 million. However, these parameters
are readily adjusted to account for any value-added opportunity component.
Type of Property
Donahue Schriber is interested in anchored retail centers, including neighborhood,
community and power centers. The preference is for grocery-anchored projects, but
other types of anchors will be considered.
The preference is for all-cash transactions, but properties with favorable existing debt will
also be considered. Due to the private nature of the company, other creative structures
can be considered, such as those designed to defer taxes. The use of Donahue Schriber
partnership units or shares will be considered on a case by case basis.
Donahue Schriber’s strategic geographic focus is the Western states with a current
emphasis on California, Oregon, and Washington. The company will consider properties
outside of this area, especially if the investment represents a significant acquisition
or is a portfolio of properties that would give Donahue Schriber an immediate presence
in a new market. Properties located in secondary markets and smaller communities
will be considered.
The company will be aggressive for the right opportunity. Generally, Donahue Schriber
expects to acquire properties at yields reflecting current market returns while
considering the individual property’s risk profile and upside potential through
growth in rental income and/or value enhancement.
Information Needed for Preliminary Evaluation
2. Site Plan:
Identify tenant locations, if possible
Information on trade area competition and demographics
4. Rent Roll:
Individual tenant GLA
Lease commencement and termination date and options
Minimum rent and rent escalation schedule during the initial term and
Percentage rent provisions and breakpoints
Expense stop information
for CAM, taxes and insurance
Major tenant sales information for past three years
Detail on vacant space and pads
5. Operating Expenses:
Name of lender (original and current loan balance)
Amount of loan payment
Original amortization term and due date
Lock-in and pre-payment provisions
Terms and cost of loan assumption