John Andreini
@jandreini1
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Following
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Net Lease Investment Sales Expert | CRE, VC, & PE GP
San Francisco, CA
Joined June 2011
Follower Update on Who I Am:. 20 years experience brokering retail real estate across the US at @cppartners_cre. Since 2012, I have been partnering with my developer clients providing them capital to build shopping centers, national restaurants, and medical facilities. 2020-22.
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Interesting to see Macy’s department store have their best quarter in 3 years given the economic backdrop. They are capturing the lower income consumer but also higher income consumers “shopping down”. Up 20% today - good news for mall owners.
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Developer bought a property that included the business for $15M with the intention of redeveloping into a $50M project . Because the business was technically acquired, they were able to take a $10M “loss”. That “loss” offset $10M in capital gains tax free
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Historic Acquisition Alert!!!! . San Francisco is the global epicenter for tech, AI, and life sciences. The city is undergoing a renaissance under the new mayor with office leasing reaching pre pandemic levels in Q2. Acquiring office into this "bottom" will go down as.
Excited to announce Peninsula Land & Capital has acquired 505 Montgomery Street, a 24-story, 350,786-sq-ft Class A office tower in San Francisco’s Financial District! 🌉 With LEED Gold certification, Art Deco-inspired design by Skidmore, Owings & Merrill, and a prime location,
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Gas tenant was paying $100K rent . Tenant turned around and sub leased the gas station for $300K to a much larger user due to its tremendous sales - pocketing the $200K difference. Tenant and landlord agree to "merge" the 2 leases into a single "clean" lease so they can both
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There was a moment in time 3 years ago when @OnlyFans was open to investors . Everyone passed because they couldn’t figure out how to exit . Now it cash flows the initial investment every year.
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Developer tied up a $12M property. “Mansion tax” in the county is 5.5% totaling $660K. During escrow, they subdivide the property into smaller $4M pieces which reduces transfer tax to 0.45%. Saved $600K in closing costs
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Refinancing this property in Barcelona and the rate is 3.4% fixed for 15 years, non-recourse, fully amortizing loan.
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The bottom is so in for CRE values and transactions. It’s time to go all in . Bad headlines means time to invest . Good headlines means it’s frothy.
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The main deal killer I am seeing in CRE transactions are sellers over playing their hand. Asking for an extra $25K, a management contract, or unusually short timeframes. Most of the time it is a mere fraction of the overall purchase price or timing that won’t matter, but.
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US taking in trillions of investment as “GP” with focus on energy and critical minerals. $TMC has worlds largest resource of critical minerals. Up 300% since I mentioned 2 months ago. Read the dang tea leaves
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Some of my favorite people are my “competitors”. We share resources and information instead of competing. As a result, we each win more business and improve faster. There’s plenty to go around.
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One of the great mysteries in real estate is having a property listed for months with limited or no activity, then out of nowhere getting 3-4 offers within a week.
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Check out this @McDonalds drive thru co-branded with a casino and Exxon gas station. Must be highest volume store on earth.
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Nothing worse than @jimcramer covering your most exciting position $TMC. Am still so long, but goddammit Cramer don’t be jinxing this one bruh
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The Vietnam trade deal is a positive tailwind for furniture retailers.
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REIT lists property thinking it’s “dark” meaning it’s closed but paying rent at $2.5M / 7 cap. Buyer opens escrow at $2.3M. Tenant sees listing and calls saying it’s actually open. Asset manager listed the wrong property. The property is worth $3M, buyer made $700K doing nothing
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