Q1 Update @ People's Development.
3 Dispos right now.
Not enough Acq in the pipe.
Aggressively seeking our next investment.
Life is hard
pantherdv.com/campaigns/view…
At the buzzer...we closed. Final acq of 2024.
Panther Development closed on a former KFC in MA.
At closing, we signed a 15 year lease with a QSR operator.
Bank Debt: 6.625%
75% LTV
I often get asked what I do for work (typically by my mom)
today sums it up well
-Coffee mtg w/ leasing broker
- Drive to SFH adjacent to our dev site and knock on door to purchase (.5% probability)
- Drive potential shopping center acq
- Member Guest w/ brokers
My Route:
Is anyone getting ground up multi-tenant strip retail to pencil yet?
I have the dirt & the tenant(s) but the #'s never made sense. I haven't estimated anything in 6+ months...should I try again?
Dirt is in CT for reference
Land Flip
The People's Developer & partner acquired a 1.56 AC retail development site in MA
We are under contract to sell to National Bank
Financed through X @wduzzer92
Deal recap to follow...
A bittersweet acquisition for the kid from Wilbraham....
We acquired a former Friendly's. I ate a lot of ice cream here
Look forward to repositioning this one
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