“It was September 2020 at the time, the whole country was actually shut down… we thought there'd be someone from Sydney or Melbourne… but we secured the site then”
The Deal with Adam Di Marco · Monarch Residences: Luxury at Scale - James MacGinley, Consolidated Properties Group
Play from 9:23
9:23
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What was described
acquired the Monarch site in September 2020 while the market was shut down due to COVID, buying when competition was low
Said nearby on the same subject
“Holding income is extremely important when acquiring any development site. If an existing tenant is covering a meaningful portion of your interest and holding costs while you work through planning, you’re under far less pressure to develop the site immediately”
“I dropped seven IOIs, three LOIs, two due diligence, and then I had one seller walk away and closed on JSL… while turning down two PE operator pipelines.”
PD
Patrick Dunphy
Acquiring Minds ·
How they work7 IOIs, 3 LOIs, 2 due-diligence, 1 closed dealShare this moment
“Manufacturing is one of the sectors which we identified very early on in October 2020. This was just six months after the first wave of COVID.”