Palo Alto, CA (PRWEB) October 01, 2014
Mascia Development presents a new investment opportunity in connection with the acquisition of Findlay Marketplace, a cash-flowing retail shopping center located in the high-traffic heart of a great real estate market, Findlay, OH. The offering will be facilitated by online real estate platform RealCrowd.
Mascia Development announces the opportunity to invest in Findlay Marketplace, a 30,100 Sq.Ft. shopping center in located in the heart of the main retail area of Findlay, OH. The property is located on a high-traffic street affording the property excellent visibility and access for the 132,000 residents of the Findlay-Tiffin area and its 71,500-plus students across 26 colleges/universities within 45 miles including University of Findlay which is 1 mile away.
The property maintains a strong tenant base that includes strong corporate and US Gov’t tenants, has an 88% majority of triple net leases (carefree leases), and offers value creation through leasing the remaining vacancies of a current 93% occupancy. Reinforcing tenant stability, the average household income of residents within a 1-mile radius of Findlay Marketplace is 64% above the national average.
Investors are projected to receive a healthy dividend paid quarterly starting at year end 2014. The first-year return to the equity is projected to be 9.8% cash-on-cash and 12.1% total return year 1. Assuming a sale in 2024, the IRR to the equity is projected to be 14.7%.
The opportunity is Mascia’s first being opened to outside investors and is offered under SEC Rule 506(c), and is immediately open to accredited investors on the RealCrowd online platform. SEC Rule 506(c) lifts the ban on general solicitation of certain securities to accredited investors. In addition to leveraging the new regulatory environment, RealCrowd offers a full suite of investor management tools to real estate operators, bringing tremendous efficiencies to the private capital fundraising process.
RealCrowd, a leading technology platform focused on enabling commercial real estate issuers to conduct general solicitation offerings, facilitates accredited investors’ access, review and investment with issuers in real estate across the nation. The final sale of securities is at the discretion of the issuer and is conducted between the issuer and each investor.
About Mascia Development
Mascia Development, LLC, is a privately-held real estate investment firm headquartered in New York City and operates as the real estate investment arm of a multigenerational real estate family. The company has in-house capabilities in acquisitions, financing, development, construction, and asset/property management. As a privately held company, Mascia Development has the resources to move quickly to close complex transactions and efficiently execute its investment strategies.