Fwd: Richmond and Baltimore FBI Field Offices
David:
I saw Simon this week and he mentioned that your clients are seeking US properties with more cache. I am partnered with a gentleman who created the US government lease program. We are rebuilding his portfolio after he sold off his old portfolio which was heavily financed by Middle Eastern Money. We have the opportunity to acquire FBI and Court House buildings. The returns are in the low teens, but the credit is backed by the US Government, so effectively is like a high yield bond with treasury like security. But moreover, there are a 100 or so targets, all of which my partnered knows intimately. These are sexy assets.
The first two deals require $25 million of equity for the $80 million acquisition of two FBI buildings. Your clientele will be owners of US FBI buildings, structured passively through Cayman Island vehicles. Attached are a slide deck showing the information requested and the more detailed two page analyses for the FBI potential acquisitions for the Baltimore, MD and the Richmond, Va. FBI Field offices. I've also enclosed a two page summary showing where the FBI fits in the U.S. Program (Page 1, Specialization).
The president of the developer for these two FBI assets, the Penrose Corporation, has joined with us to place our response to the Seller. My partner originally purchased these assets from the Penrose Corporation on occupancy by the FBI and owned them for about three years. The GSA, on behalf of the FBI, has just exercised their 5 year option (beginning on January 1, 2016) contained in the initial lease. Similar to Baltimore, we believe, based on our inquiries, that the FBI will renew this lease at the end of the five year term. The facility was designed and built to accommodate expansion. My partner is the best at the business in managing these type of assets.
We have a pipeline that requires $75 million more right behind these first two. Ideally an investor would commit $100 million in one go, but we can start with the $25million if easier.
The money needs to be committed by November 15th.
Please treat as confidential.
Jon
Blue Atlantic Capital LLC
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$25 million of equity for $80 million acquisition of two FBI buildings.
Pipeline that requires $75 million more right behind these first two
Guy involved created the US government lease program
one asset just renewed for another 15, and the other that's 5 years left is confirmed to do so.