Deal stories and case studies - share yours!

[Benton Moss]

Hi BP Community! I would like to start a deal case study thread. If you are willing to share, feel free to include as many or few details as you wish - my main goal here is to learn from more seasoned CRE investors and start a thread for the benefit of the rest of the BP community. If you are willing to share high levels details about a good deal you've done, I would love to hear your thought process and analysis on any or all of the following specifics when looking at deals and closing:

Due diligence:

Financials - what stood out to you immediately? Were the financials trending upward, stagnant, or declining? Was it mismanaged? 

Market analysis and competition - What type of competition for the property type was present in the market? Did this plaly a large part in the decision to buy?

Value add identification - Was there a clear detail that stood out as a potential value-add opportunity?

Negotiations:

How much competition was there for the deal? Did you have to sweeten the deal and get creative?

How did you negotiate the deal? What did you use as leverage in bargaining?

Terms of deal. 

What, if any, was your estimated discount to NAV when you bought the property?

Closing:

How long did the deal take from diligence to negotiations to closing?

Financing structure - Seller financing? Heavy leverage? All cash closing but refinanced later?

Were there any bumps in the road before closing?

Post closing and stabilizing property:

Any need for management or personel changes?

How did you execute on value add plan?

How were you able to increase NOI? Expense reduction or revenue growth?

Thanks everyone - I hope we can share some great stories here!

Benton