GSL Welcome actively pursues single-tenant acquisition and development investments throughout the southwest United States. Our multiple sources of capital, between partner’s equity and outsides funds under management, allow us to move quickly with great flexibility and close transactions prior to securing the debt. In fact it is not uncommon for GSL Welcome to close transactions prior to the expiration of feasibility periods provided for in our contracts.
In July 2007 GSL Welcome formed the GSL Property Fund 21 to acquire single-tenant industrial buildings in Texas and nearby states. The fund was formed to acquire $60 million of real estate with committed institutional equity of $30 million and third party debt of $30 million. This fund will focus on the acquisition of single-tenant higher quality properties.
Acquisition Criteria |
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Property Types: |
Income producing single-tenant properties with a stable cash flow and an emphasis on industrial properties.GSL Welcome will purchase single facilities or entire portfolios. |
Quality: |
Investment and non-investment grade. |
Lease Terms: |
NNN preferred but industrial gross leases will be considered. Minimum remaining lease term we will consider is three years. |
Location: |
Texas and the southwest United States. |
Transaction Size: |
$1.5 million and up. |
Capitalization: |
All cash, 3rd party debt, or GSL Welcome will assume existing financing. |
Other: |
With our development and construction capabilities, GSL Welcome has the ability to redevelop, expand and modify potential acquisitions to meet the needs of existing or future tenants. |
Submissions: |
Submissions should include physical property descriptions, photographs, lease terms, site plan, tenant financial information, market data, and location maps. |