| Property | Market | Type | SF | Occupancy | Lender | Loan | Rate | Maturity | Next Action | Due |
|---|---|---|---|---|---|---|---|---|---|---|
| 555 Washington Ave Miami Beach, FL | Miami Beach | Office / Retail / Parking | 65,746 | ~79% (20.7% vac.) | OceanFirst Bank | $35,000,000 | SOFR + spread Cap: 5% strike | Cap exp 1/1/27 | Send Justin (Davis) the Mar-2022 approved business plan + capex-since-acquisition summary for IC memo; select listing broker (CBRE vs JLL); Aug capital call; Apple renewal | Aug 1 |
Situation Davis JV. Prepping late-Q3 (Oct) sale; going-in NOI +54% since '22; target ~6% cap / ~$925/SF. Justin Ochalla (Davis) finalizing IC memo to approve broker hire + list; ball is on Josh to backfill the memo's missing rent-roll / capex detail. Broker beauty contest CBRE (Kelly+Lee) vs JLL (McCormack) still open. Email chronology (through 7/28) • 7/21 10:24a Peter K: Apple appraisal materials assembled — 3yr financials, 2026 budget, Apple + Corcoran leases, CAM calc, Yardi rent roll. • 7/22 5:11p Hunter Stone: June financial report out. • 7/23 8:00a Chubby operations call; RCD adjustment thread w/ David Allen. • 7/24 10:02a Vanessa Florido (JLL): "Checking in — same page on the abatement?" (SK Capital 2nd Am). • 7/27 Ops call + 555 catch-up held; Battery Global carve-out killed on Eyal's say-so. • 7/28 5:34a Josh → Grace: "This was pending your confirmation to my last email." • 7/28 8:34a Vanessa: "So sorry to keep bugging… 4-mo abatement May–Aug 2026, base rent $20,458" — Day-5 unanswered. • 7/28 8:42a Peter K → Josh/Eyal: "Put the 555 CapEx together with Claude — base-bldg vs leasing vs OpEx that should've been CapEx. Will send to Justin if you're good." • 7/28 9:30a Fellow: 555 Wash Leasing Update — broker E-blast held until after summer; renderings negotiation w/ Katie live; Alacran/BGO Georgia re-engage 3rd wk August. • 7/28 9:44a Josh → Justin Ochalla (Davis): "We'll have the capex detail for you shortly. Waiting on broker comps." • 7/28 10:22a Grace Valdivia: "Vanessa — could you share the document that references the (4) months abatement?" (still needs source doc). • 7/28 10:26a Anna Grilli (Colliers): "I was able to log in to OceanFirst — thank you." • 7/28 12:13p Peter K → Justin: "Attaching historic capex analysis — split base-building vs TI/LC vs OpEx that should've been CapEx." Open follow-up Vanessa Florido still needs abatement confirmation from Grace to post the SK Capital deal (Day-5 stale). Justin's team then reviews Peter's capex analysis → IC memo → broker beauty contest resolves. Comp asks from Justin still open: 119 Washington, 404 Washington, Lincoln Rd, Design District/Wynwood, 3480 Main Hwy. Open Items Wells Fargo ATM window-tint dispute · Mepin 4th-fl scope held pending progress payment (AP approved 7/27) · Anna Grilli Yardi approver level (post-Hensley) · Shelby spec-suite grease-trap CO · Apple renewal counter · Dish Wireless termination ($25,366 arrears) · SK Capital 2nd Am 4-mo abatement · Warner Music amendment in legal · elevator mod · Chubby buildout Chronology (auto) 7/28 · Grilli, Anna — Accounting team transition - 555 Washington bank and yardi access 7/28 · Valdivia, Grace — 555 Washington Ave - SK Capital Partners - 2nd Amendment - Extension | ||||||||||
| 12350 Montague St Pacoima (SFV), CA | LA / SFV | Ind. Condo Conv. (Mosaic) | Multi-unit | Mixed — F, G for lease | No senior debt identified | — | — | — | Reply Unit H redline (Phil); call Adam Stout; AR collections | Overdue |
Situation 12350 Montague Owner LLC / Lakeside Business Center LLC. Active condo-conversion sell-out (units F & G listed via Delphi's Mike Hooker at $1.50-1.55/SF). Two prospects in bank talks; Adam @ Delphi driving broker outreach + LOI revision. Condo map DD w/ David Evans & Associates (DEA) engineering + Rosenheim. Email chronology (through 7/28) • 6/24 Gela Villarroel (Worth PM): May financials for 12350 Montague Owner LLC out. • 7/23 8:14a Rob Ortega → Cathy Fisher (SitusAMC): Draw #5 photos + lien waivers link sent. • 7/23 11:32a Cathy Fisher: "Will review. Targeting first part of next week." • 7/23 Weekly A/R report (Lakeside + 12350) — Gela. • 7/24 8:03a Rob → Mark Heavey: "Just to be sure DEA still goes to Condo Map Approval budget?" Mark: "DEA → Architect & Engineering; Rosenheim + City of LA charges → Condo Map." • 7/24 11:52a Jenn Berlin (DEA): retainer wire instructions sent. • 7/27 12:16p Fellow: Montague standing meeting — Adam @ Delphi revising LOI on rent-credit-toward-down-payment (Bold Steel template); prospect texted intent to defer purchase pending $5-6M home sale; team asked not to sign renewal before checking back. • 7/27 2:17p Mark Heavey: "Following up on this — the appointment to submit is today, I need to know if we can submit." • 7/27 5:39p Josh → Rob: "Did we hear from them today?" Rob: "Unfortunately not. Called again, no answer." • 7/27 3:42p Joseph Stanislawski (Thorofare): "Draw has been approved, funds within 48hrs." • 7/28 8:26a Sydney Jackson (DEA): "Verbally couldn't hear you this morning — will call from physical phone tomorrow." • 7/28 8:13a Rob: "Wire instructions verbally confirmed at 12:08PM EST — wire going out today." • 7/28 10:13a Rob: "Gela — ETA on the June financials?" Open follow-up DEA retainer wire cleared 7/28 → condo-map plans submission unblocks. Adam @ Delphi revised LOI (rent-credit) to prospective buyer this week + broker E-blast for the $1.5M discounted unit. Two-unit solar-business prospect gone dark — Adam chasing in person. Open Items Bold Steel 3mo behind on rent · Enhanced Architectural missed May · Listing amendment for F&G signed 7/10 · Caro (Unit M) non-responsive · Draw Request #5 funded (Thorofare 7/27) · Multiple AR delinquencies · Budget rebalance: DEA + Rosenheim spend running above condo-map budget line Chronology (auto) 7/23 · Mark Heavey — Pacoima, CA - 12350 Montague Street - Draw Request #5 7/23 · Catherine Fisher — Pacoima, CA - 12350 Montague Street - Draw Request #5 | ||||||||||
| 3501 & 3511 Thomas Rd Santa Clara, CA | Silicon Valley | Ind. Condo Conv. (Mosaic) | Multi-unit | Multi-tenant; CAM reset | All-cash — no debt | — | — | — | Mon marketing sync w/ Colliers — answer Hofer's Qs (project name, verified SF post-BOMA, floorplans, finishes); decide EMSL Unit 9 termination; approve door + tree bids | Mon sync |
Situation Mosaic 3501 Thomas Property Owner LLC (JREF Mosaic Partners). CLOSED 6/29/26 PM handoff to Worth (Carlos Nieto). Condo conversion underway. Published: $579/sf (1,760 SF) / $559/sf (2,138 SF). UW: 2.0x EM / 63% IRR. Substantial-completion target 10/1/26. Colliers' Emerson Hofer marketing. Email chronology (through 7/28) • 5/26 Carlos → Jared: Allied Landscape tree removal plan — 10 redwoods, cost breakdown between 24" boxes vs 36" boxes. • 7/16 1:36p Patrick Butler (Kimley-Horn): 3501/3511 survey scheduled second half of this week. • 7/20 9:52a Josh: "Still set for the Wed 22nd site walk?" • 7/23 7:47a Carlos: "Met with Steve (Vulcan Construction, David Rowley referral) yesterday on 3501-09 & 3511-05 unit walks — needs office & warehouse specs." • 7/24 2:41p Carlos → Jared: R&S hollow-metal + rolling doors proposal — $62,718 total (3501 $33,803 / 3511 $28,915), assessment fees waived if we proceed. • 7/27 12:24p Josh → Butler: "Are we still on target for delivery this week?" (chasing survey). • 7/27 4:56p Jared → Carlos: "Any tiny nicks — no big deal, will be painted. Check if hollow metals can be repaired instead of replaced." (pushing back on scope) • 7/27 5:05p Carlos: Tree-portion recap — Proposal #50416 $16,830 + #50676 $34,550; 1-for-1 redwood swap w/ 36" boxes saves $1,550. • 7/27 5:42p Jared: "Why are we being charged for replacement trees on top of the $3,500 per removal? $18k not accounted for." • 7/28 11:11a Anthony Vera (Kimley-Horn): "Underground survey completed yesterday, still on target to deliver this week." • 7/28 11:50a Jared: "Allied tree proposals — good to go. Savings vs UW when factoring permit." • 7/28 11:57a Jared → Carlos: "Take first pass at unit-walk scope w/ Steve, use units 10/13 as reference; Mark walked new ones with you." • 7/28 12:34p Carlos: "Engaged Jose Lopez for building improvements — signed Construction Agreement, tentative start wk of 8/24." Open follow-up Mon 7/28 team sync w/ Colliers — screenshare buyer activity tracker; outstanding items for brochure/CoStar: project name + Mosaic branding, verified SF (post-BOMA), final floorplans, finishes/renderings, 10/1 repositioning + condo-map timing. Open Items EMSL Unit 9 termination decision (vacant 7/22) · Condo plans w/ Wood Rogers · 6" sewer lateral · Survey final delivery this week (Kimley-Horn confirmed 7/28) · Allied trees & R&S doors approved to move Chronology (auto) 7/27 · Traded Submissions — Traded - @tradedla - Sale - 3501 Thomas Road - 06/29/2026 - Joshua Honig 7/29 · Traded — Your Traded Post 3501 Thomas Road Links & Insights | ||||||||||
| 23151 Alcalde Dr (Laguna 3) Laguna Hills, CA | Orange County | Ind. Condo Conv. (Mosaic) | Bldgs A & C | Lease-up / condo sales | Citizens Biz Bank (paid off) | — | — | — | Fire proposals (shoring+demo) landing after 7/29 walk; C4/C5 lease termination ~9/10; 142-C (Mill Creek) $575/sf LOI signed — buyer wants Dec possession vs tenant lease to Apr | This Week |
Situation Mosaic 23151 Alcalde Property Owner LLC (JREF Mosaic Partners). CLOSED 6/15/26. Bldg C fire 7/10 — C4/C5/C6 impacted; Hanover adjuster completed initial inspection, issuing $50K check covering all out-of-pocket to date (David est. actual spend $30-40K). Architect ruled shoring must be specialty structural (not GC). Jeff Carr (CBRE) listing condos; 142-B closed 7/16, 142-C (Regatta) closed, 52-F expected to close by Thu (estoppel last open item). Only largest existing tenant interested in buying (mirrors Laguna 1/2 pattern). Email chronology (through 7/28) • 7/14 5:00p Saminah Welker (Mariners Escrow): 142-B — estimate to Mark; loan docs in, coordinating buyer signing. • 7/20 3:30p Matt N → Mariners: "Please share final signed settlement statement that ties to $1,258,349.82 disbursed to seller." • 7/23 12:31p Vishwa Tiwari to Voit (John Collins): B4/B5 interest — target $550/sf vs team $620. • 7/23 1:03p John Collins → C3/Mark: "Best & final on longer-term leases — 23122-B at $560/sf ($1.62M); 23042-A&B at $515/sf ($5.37M)." • 7/24 8:17a Saminah Welker: "Apologies for delay — attached is final statement" (142-B closed). • 7/24 9:36a David Rowley: Weekly inventory reports for today's call. • 7/24 2:00p Fellow (Weekly Lakeside/Montague): Shoring engineer walks the space next Tue 7/29; shoring+demo proposals by end of next week. Saddleback Roofing $4,500 C7 waterproof submitted to Hanover. C7 water line ran through C4/C5 — must be re-run. Insurance expected to cover all immediate repair costs. C4/C5 lease termination ~9/10 (Rowley sending formal notices pending Heavey approval). C6 tenant early surrender end of July (forfeits 1 mo rent). B2 tenant Jesse Fan extension approved ≥30 days. • 7/27 12:30p Fellow (Alcalde Call): Vishwa focused on B4/B5, target $550/sf vs team $620; net worth $22-25M, 850 credit; church prospect exploring use approval w/ Laguna Hills planning. • 7/27 1:43p Jeff Carr (CBRE): "Please find our updated Alcalde Tracker for today's 12:30 call." • 7/28 5:00p Fellow (Mosaic Weekly): 142-C (Regatta) closed, 52-F closes Thu (estoppel last item). 142-C (Mill Creek Electric) signed LOI at $575/sf w/ 11-credit — buyer wants Dec possession but tenant lease runs to end of Apr; Collins/Jordan showing tenant cheaper nearby space to negotiate early exit. Vishwa (active on Laguna 3) quoting $550/sf to Jeff here while opening at $475 elsewhere — narrowed to one Mosaic project. 3 vacant units make-ready by EOW, 2 more starting, 3 more terminations at month-end → ~7 units available. Turf replacements done by end of Aug; all roof warranties transferred. Fire: Hanover adjuster issuing $50K check (est. actual spend $30-40K). Open follow-up Post-7/29 walk: shoring+demo proposals landing. Rowley formal termination notices to C4/C5 (pending Heavey approval). 52-F estoppel to close Thu. Mill Creek $575/sf LOI — resolve tenant early-exit before Dec possession. Vishwa moving toward offer on Bldg B; Jeff daily contact. Open Items Shoring/demo proposals · Saddleback Roofing C7 waterproof (Hanover approval pending) · C7 water line re-run · C4/C5 lease termination ~9/10 · C6 tenant surrender EOM · B2 tenant Jesse Fan extension · Rent-interruption duration-limit Q to Blake (Hanover) · Condo plan recording · Fairmed C10 renewal (12yr, $1.87/sf) Chronology (auto) 7/13 · Shane Keepence — 23151 Alcalde Dr - Building A 7/13 · Shane Keepence — 23151 Alcalde Dr - Building A | ||||||||||
| 247 Bedford Ave Brooklyn (Williamsburg), NY | Brooklyn | Retail (Apple anchor) | ~12,200 | Apple + Corcoran | CMBS (LNR special servicer) | ~$15-17M est. | 4.75% + default ~7.75% all-in | Imminent | LNR requested 247 leases (Thornoak sending); Joel 8th installment; Eyal PFS | Overdue |
Situation JV: Greenmont + Waterbridge (Joel Schreiber). REFI CRITICAL. Thornoak Capital (Caldero/Gluck) engaged 4/23. LNR extension terms: 1% mod + 1% liq + 0.25% svc + 3% default int. Now bundled into High Street Retail Portfolio raise (555 Wash + 247 Bedford + 58 Kent, $100M+ LOI). Email chronology (through 7/28) • 7/10 2:41a Josh sends 247 Bedford update; Eyal replies same day (thread with James Caldero + Darren Gluck, Thornoak). • 7/13 9:12a Matt Nicholas: internal reply on 247 Bedford (financials package). • 7/16 12:33-40p Shawn Pandit → Doug / Dylan / Andrew / Rui: "High Street Retail Portfolio" outreach — 53,515 SF, 6-bldg NY+Chicago, incl. 247 Bedford, w/ Chris DeCrosta (Goodspace) + George Karnoupakis leasing edge. • 7/21 10:52a Shawn → Joseph Shamah (via Adam Goodstein intro): same deck sent. • 7/21 11:24a Peter K: Apple appraisal materials assembled — 3yr financials (Eyal to review), 2026 budget, Apple + Corcoran leases, CAM calc, rent roll. • 7/21 2:30p Scott Fishkind (LNR): "Can you guys please send us the leases for 247?" • 7/21 2:32p James Caldero (Thornoak) → Eyal: "See below." 7/21 2:37p Eyal: "See attached" (leases forwarded). • 7/23 6:02p EOD: Caldero/Thornoak sending 247 leases to LNR; Josh added to Apple appraisal loop. • 7/28 8:09a Shawn: High Street Retail Portfolio deck to Gabe (per Eyal). • 7/28 Jack Jaffa weekly: ECB hearing 7/28 (signs/sprinkler-labels violation 014249088N) + $1,000 defaulted ECB balance at 247 Bedford — routine compliance, not deal-critical. Open follow-up LNR (Fishkind) working through 247 leases — Thornoak DD advancing. Awaiting Josh's final Y/N on Shawn's revised Carlton carve-out list (Battery Global out per Eyal 7/28) → unblocks Bildner sign-off + Carlton investor blast for the portfolio raise. Open Items LNR underwriting 247 leases (Caldero/Thornoak delivered) · Joel Schreiber non-responsive on 8th installment · Eyal PFS to Boswell overdue · Waterbridge buyout on the table if Joel won't fund · Apple renewal strategy · Part of High Street Retail Portfolio raise ($100M+ LOI 7/22) Chronology (auto) 7/21 · Eyal Greenberg — 247 Bedford 7/20 · Nathan@JackJaffa — Weekly Update from Jack Jaffa - Monday, July 20, 2026 | ||||||||||
| 364 Lincoln Pl Brooklyn, NY | Brooklyn | Residential (40 units) | ~40 units | ~97% | [confirm lender] | [confirm] | [confirm] | [confirm] | Eduardo/Triple Five accounting-fee dispute (Shawn drafted firm pushback per OA); review Charney leasing template; F1 lease-up Aug 15 | This Week |
Situation 364 Lincoln Owner LLC. Active reno + lease-up. Rent roll grew $188.6K/mo at closing → $198K/mo today (Matt N unit-by-unit 7/23). F1 reno nearly complete (bath tiling + kitchen cabinets within days); leasing targeting Aug 15 start. Fresh Start Cleaners now handling all turnovers at $1,000/turn (replaces AJ on turns). LP: Eduardo Alfie / Triple Five. Email chronology (through 7/28) • 7/10 1:44p Eduardo Alfie: "Going through recent ledger + cash flow — a few questions" (Property Accounting Fee $1,650/mo, NYC LL-84 $550, $6K Professional Fees Other, Lease Renewal Admin $400, elevator deposit). • 7/13 5:37p Eduardo: "1) On the $1,650/mo Property Accounting Fee — I'd like this included in the management fee going forward, no additional fees outside. 2) On the elevator deposit — didn't receive estimate." • 7/23 10:00a 364 Lincoln team catchup; Matt N sent unit-by-unit rent comparison. • 7/27 1:47p Jack Jaffa Weekly Update: ECB hearing scheduled 7/28 (247 Bedford signs violation), 8/9 HPD certifications due at 364 Lincoln for self-closing doors, HPD complaint 7/18 (Water Supply). • 7/27 3:24p Gusto: Autopilot payroll runs Tue 7/28 for 364 Lincoln Owner LLC. • 7/28 5:19a Matt N → Eddie: "Going forward we'll add the accounting fee within the management fee. See attached elevator invoice, total $14.5K." • 7/28 5:34a Eduardo: "No need to break out accounting fee separately — expect a credit as it was never budgeted. Thanks for elevator invoice." • 7/28 7:38a Shawn: "364 Reddit — r/prospectheights thread on the building." • 7/28 9:35a Gabe Siegal (Charney): "Leasing Agreement Template — draft attached for your review." • 7/28 10:22a Josh → Shawn/team: "Please take first stab reviewing this leasing agreement template — good practice to have one; do we need attorney?" • 7/28 1:54p Smith-Garbey eviction (Apt F-5): Aaron Shirazi (Charney) → counsel Harrison Feldman (HCR) — decision reserved by judge 6/30; Feldman expects ruling within ~2 wks. • 7/28 3:15p Josh fwd Eduardo Alfie (Triple Five): "Let me know what we can do" re accounting charges — Eduardo pressing for a credit, says fee "was never budgeted." • 7/28 5:54p Shawn drafted firm pushback ("Eddie Email Draft"): CRA/accounting fee is a budgeted line item (Exhibit B), separate from mgmt fee per OA §4.9/§4.8 + PMA §4.1 — no contractual basis for retroactive credit; offer to reclassify as Mgmt Fees with no economic change. Open follow-up Eduardo/Triple Five wants a retroactive credit on the accounting fee; Shawn's draft holds the line (no credit, offer cosmetic reclass only) — Josh/Eyal to sign off on tone before it goes back. Shawn first-passing Charney leasing template (Josh asked whether attorney review needed). Smith-Garbey ruling expected within ~2 wks. HPD self-closing-door certs due 8/9. F1 leasing kick-off 8/15. Open Items Eduardo/Triple Five accounting-fee credit dispute (Shawn draft = no credit, reclass offer) · Smith-Garbey F-5 eviction — ruling ~2 wks · HPD self-closing-door certs due 8/9 · Charney leasing agreement template review · Top-floor toilet overflow damage assessment (Aaron/Charney) · Lead abatement units E8 & C10 · Sump pump + elevator brake (deposit sent) · Hallway painting (lender req) · F1 lease-up 8/15 Chronology (auto) 7/28 · Matthew Nicholas — 364 Lincoln Place - Full Explanation Required on Recent Charges 7/28 · Eduardo Alfie — 364 Lincoln Place - Full Explanation Required on Recent Charges | ||||||||||
| 805 Uniek Dr Waunakee, WI | Madison, WI | Industrial (NNN) | ~120,000 | 100% (Uniek Inc.) | Sound Point Capital Svc: SitusAMC | ~$11-12M est. | Floating | Sale listing live | Attorney (Weiss/SBohorquez) to send draft redline of Sabal brokerage agreement — fee terms agreed (Charlie OK 1.5% on first $19M, incentive tier from $19.25M; Josh confirmed 7/28); lease files delivered to Chase (done) | This week |
Situation 805 Uniek Drive JV LLC. SALE — CBRE. Sabal-Greenmont JV selling ~120K SF NNN industrial (Uniek Inc. 100% tenant) via CBRE Madison (Chase Brieman, Ben Filkouski). List reference $20.75M (~7% cap), not publicized — negotiations pegged near $19.0M. Aegon $11.5M refi TS parked; investor DD ongoing (Fortistar, Midloch, Jonny Weiss). Email chronology (through 7/28) • 7/15 8:16a Chase Brieman: Drone photos delivered. • 7/19 10:34a Jared: "Any ETA on listing agreement?" • 7/23 Peter K sent Fortistar (Adam McMaster) the 3-scenario downside model. • 7/24 2:00p Chase: "Listing agreement draft attached — WB-5 (state-required, first 7 pgs) + Addendum #1 (CBRE supplement). List price $20.75M ~7% cap, won't be publicized. OM to you Monday." • 7/27 12:56p Josh → Charles Alexander + Mike Mehagian (Sabal): "See attached brokerage agreement. Suggest we counter with 1.5% on first $19M + 5% above. Weiss (SBohorquez) can spin through it." • 7/27 3:13p Charles Alexander: "OK on 1.5% (would like to settle there — maybe start lower). 3.5% seems crazy for a deal this size. Can we start the incentive at $19.25M (Madison's midpoint value)?" • 7/27 4:56p Josh → Charles: "Yes that makes sense — we'll get attorney engaged to review and send a draft redline." • 7/27 5:24p Peter K: Uploaded lease + all amendments to Dropbox for Chase. • 7/27 6:20a Adam McMaster (Fortistar): revised memo sent to Adam C.; Jonny Weiss keeping warm. • 7/28 7:03a Josh → Adam Weiss + Sebastian Bohorquez (Weiss Law): "We own this asset at 805 Uniek, gearing up to sell 2026. Capacity to work on with us? Attached is listing agreement to start." • 7/28 7:30a Adam Weiss: "Yes — happy to assist. Introducing JP Croake, Senior Counsel, WI-barred and lives in Madison. Will review the listing agreement + get back w/ comments." • 7/28 7:34a JP Croake: "Good to meet you and happy to assist with a property right here in Madison!" • 7/28 7:35a Josh → Weiss/Croake: "Sounds amazing, let's do it!" Open follow-up Weiss/Croake redline of Sabal brokerage agreement is the last mile before listing. OM being finalized by Ben + Chase. Sabal wants incentive to start at $19.25M (Madison midpoint) — terms already accepted by Josh. Investor DD warm w/ Fortistar (McMaster), Midloch (Palmer), Jonny Weiss. Open Items Weiss redline of Sabal brokerage agreement · Final tax return to Sabal (Annie Chen) — Matt sent 7/23 · Aug invoice out (Rob Ortega) · Eyal PFS to Boswell · Front sign/landscaping approval · Distribution #13 to Sabal Chronology (auto) 7/28 · Adam Weiss — 805 Uniek - Disposition 7/29 · Brieman, Chase E. @ Madison — Uniek Lease | ||||||||||
| 295 Ella Grasso Tpke Windsor Locks, CT | Hartford, CT | Industrial (Multi-Tenant) | ~451,908 | ~94% (Fabbrica, MML, CSS, Kamps) | [confirm lender] | [confirm] | [confirm] | [confirm] | PDB (Bhavik) site walk confirmed Fri 7/31 9:30am — Eyal + Wm. Rosa accepted; Ajax still stalling on signature (Coffman chasing; Stu "working on it, will call tomorrow"); Ajax delivered zoning + survey but withholding enviro report under atty-client privilege; new Ethan Leavitt CT iOS comp forward (Adam Goodstein) | Fri 7/31 |
Situation Greenmont / Tryperion JV (Adam Goodstein — Seastone Capital). SALE TRACK — AJAX (via JLL/Coffman). Ajax Partners (Ian Blatt / Stuart Silberberg / Nikolas Marill-Fukuda) accepted $20M 7/15, but stalling on signature. Tryperion (Etra) is the back-up PSA. Greyhill (Mo Bloorian / Jamie Roth via Rosewood/David Wildes) parked. PDB (Bhavik) site walk confirmed Fri 7/31 9:30am. Email chronology (through 7/28) • 7/20 12:15p Jamie Roth (Greyhill): "Are you available today at 5pm? Alt: tomorrow 11:30 or 1pm." • 7/21 8:13p Josh → Mo Bloorian (Greyhill): "Attached sale comps. Having trouble tracking down the lender matrix but working on it." • 7/22 11:52a Mo: "Thanks. Keep us posted on debt quotes — essential for us to make a final decision." • 7/24 4:24p Scott Anderson (Conrac / Bradley Airport parking outreach): "No immediate need but occasionally overflow storage — passed info to team." (90-day armed) • 7/27 9:07a Jonathan Etra (Tryperion) — RE: 295 Ella Amendment (Etra pushing to settle direction). • 7/27 9:40a David Coffman (JLL): "AJAX Team — please send remaining third-party reports ASAP. PSA entitles current ownership to copies of Environmental, Survey, Zoning." • 7/27 11:31a Nikolas Marill-Fukuda (Ajax): "Here is the zoning report and the survey. Environmental report was done through a lawyer." • 7/27 11:41a Coffman: "Should we just contact your counsel directly for enviro docs?" • 7/27 11:44a Stuart Silberberg (Ajax): "Due to complex environmental situation + recent state reg changes, we were advised to handle enviro through our attorney; subject to attorney-client privilege. We are not in a position to share it." • 7/27 3:43p Silberberg: "Working on it — I will call you tomorrow." • 7/28 5:35a Josh → Laurie Wood (Readco PM): "Yes — thank you and thank you for another great year!" (PM contract renewal $3,000/mo from 9/1/26, +$100). • 7/28 7:05a Josh → Greyhill: "Checking in if any further thoughts here" (Rosewood/Greyhill track parked). • 7/28 7:22a Liam Bettez (ARCO): "Walk thru time for Friday." • 7/28 7:30a Josh → Scott Anderson (Conrac): "Are you affiliated with the airport or only the parking structure? Any current needs for warehouse or airport-adjacent land?" Open follow-up Ajax enviro report withheld under privilege — Coffman working around it via counsel. Silberberg promised call "tomorrow" (7/28). PDB (Bhavik) walk Fri 7/31 9:30am; Ethan Leavitt (CT iOS comp forward from Adam Goodstein). Loading docks pricing — Stu ~$87K/dock (3 north/1 south); Jim rent-vs-term breakeven tool built. Open Items Coffman chasing enviro (Ajax attorney-privileged) · Loading docks pricing & scheduling · Eversource power DD RESOLVED 7/23 (Garofola) · Bradley Airport overflow (Conrac 90-day follow-up ~Oct 22) · Approved plans PDF from Schaake/Ziaks pending · Readco PM contract renewal Josh-approved 7/28 Chronology (auto) 7/28 · Bettez, Liam — Catch up GC call 7/28 · Moshe Bloorian — Bradley Warehouse Discussion - 295 Ella Grasso | ||||||||||
| Esperante 222 Lakeview Ave, West Palm Beach, FL | West Palm Beach | Class A Office | ~256,000 | 97.3% (43 units) | Walker & Dunlop floating + rate cap | ~$150-165M* | Floating* | ~2028-29* | Stabilized core — backfill 2.7% vacancy (Boston Children's, Foretell) | Owned |
Situation 222 Lakeview Ave, West Palm Beach — Class A office tower ~256,324 SF. 97.3% occupied (249,503 SF / 43 units; 6,821 SF / 3 units vacant). NOI ~$10.1M. Owner: 222 Lakeview Owner LLC (44.28% / 55.72% JV) via Greenmont 222 Lakeview LLC + JZ Capital Partners + Related/Ross. Related Urban Management (PM). Feb-2026 W&D refi (floating + cap), ~$9.6M annual DS. Tenants incl. Sotheby's, Piper Sandler, LIV Golf, Industrious, Templeton, Raymond James, Highpost, Blue Sea. Email chronology (through 7/28) • 6/19 8:00a Standing Bi-weekly Leasing Call (Joody Andre organizer) — cancelled that morning. • 6/25 9:00a Matt N: "Mosaic Distributions — Laguna 3 & Thomas acquisition fees to disburse; Yardi allocation tracker + Voyager upgrade proposal attached; Seastone properties added to Yardi allocation." • 7/9 1:33p Joody Andre: Bi-weekly Leasing Call cancelled again. • 7/24 11:00a Fellow (Bi-weekly Leasing Call): Blue Sea came in at $65/SF; Greenmont countered $88/SF, 120-mo term, 3 mo free, $40 TI — Jon expects to settle around $85-86/SF w/ $45-50 TI max. Competing option: Phillips across the street last closed at $165/SF (strong leverage). Boston Children's lease out, process going well. Suite 162 four-tenant deal in progress. Driftwood Hospitality (PE from PGA market) considered for former Chatham exec space — CB friend-wheel; tour arranging. Open follow-up Jon (leasing broker) to arrange Driftwood Hospitality tour of Chatham exec space. Blue Sea expected to close in one more round at ~$85-86/SF, $50 TI. Once Boston Children's + Suite 162 close, remaining vacancy is Chatham space only. | ||||||||||
| Laguna 2 (Lakeside Business Center) Laguna Hills, CA | Orange County | Ind. Condo Conv. (Mosaic) | [confirm] | Lease-up / condo sales | All-cash — no debt | — | — | Condo sell-out | Sell remaining units (~$570 PSF); Pacific Farm +6 units (lease exp 8/31) | Lease-up |
Situation Mosaic industrial condo-conversion; sister deal to Laguna 3 (23151 Alcalde). All-cash Mosaic. Entities: JREF Mosaic Partners LLC / Mosaic Venture I LLC / Mosaic Holdings 1 LLC. Broker: John Collins & Jordan Kemper (Voit). Active sell-out — Mill Creek Electric took $570/SF (+$30K credit); Pacific Pharmas closing this week. Pacific Farm eyeing +6 units (lease exp 8/31/26). Email chronology (through 7/28) • 7/13 8:46a Jordan Kemper (Voit): Standing "Lakeside Marketing Call" tracker — team incl. Jake Block (Jadian), Jared, Josh, Mark Heavey, Phil + Alex Linton, Shawn, Peter K, David Rowley. • 7/20 9:04a Jordan Kemper: Updated marketing tracker for 7/20 call. • 7/23 1:03p John Collins → C3/Mark: "Two best & final offers for Vishwa — 23122-B at $560/sf ($1.62M) and 23042-A&B at $515/sf ($5.37M)." • 7/23 1:05p Mark Heavey: "I'll give you a call to discuss." • 7/23 2:23p Jared: "Ok." • 7/23 9:25a Gela Villarroel (Worth PM): Weekly A/R report for Lakeside + 12350. • 7/24 2:30p Fellow (12350/Lakeside Weekly): Standard weekly rollup (largely overlapping w/ Laguna 3 fire content). • 7/27 8:13a Jordan Kemper: Updated marketing tracker for 7/27 call. • 7/27 1:00p Fellow (Lakeside Marketing Call): Pacific Pharmas tracking to close this week. Rob Larson (tenant in place) — visit tomorrow w/ Camino Capistrano sublease brochure. Mill Creek buyer knew about tenant in place (Bryce Ashton had miscommunicated). Low-ball buyer (Visa?) at $475/ft rejected — John reinforced comps closing at $570-575/ft. Team's firm floor $565/ft. Buyer wants both an Alcalde unit + Lakeside unit. • 7/28 8:13a Rob Ortega → Sydney Jackson (DEA): Wire instructions verbally confirmed 12:08PM EST, wire going out today. Open follow-up Mill Creek to review PSA in parallel while tenant-in-place situation resolves. Pacific Pharmas closes this week. Firm floor $565/ft on unit pricing. Low-baller (Visa?) expected to circle back early this week — may be negotiating tactically w/ stronger debt than stated. | ||||||||||
| 58 Kent Brooklyn (Williamsburg), NY | Brooklyn | Single-Tenant Retail | 33,000 | 100% (Lighthouse) | Purchase-money loan $9.5M · 50% LTC | $9.5M | — | Matures 2/29/28 | High Street Portfolio equity raise (Shawn leading) | Ongoing |
Situation Acquired 2/28/25 for $17.04M (~$516 PSF) / $16.72M net. Going-in NOI ~$445K. $9.5M purchase-money loan (50% LTC, 36mo term, matures 2/29/28). Entities: 58 Kent LLC / Greenmont Aperture 58 Kent LLC (JV — Greenmont + Aperture Holdings + CC Hsu). Tenant: Lighthouse — single-tenant, 33,000 SF, 100% occupied, $55 PSF ($1.815M annual), lease through 11/30/2040 (WALT ~15.8 yrs). Now bundled into High Street Retail Portfolio raise (555 Wash + 247 Bedford + 58 Kent) — $100M LOI 7/22. Email chronology (through 7/28) • 5/17-19 CC Hsu (Golden Aspen Partners) ↔ Matt N: multi-round DD on 58Kent JV structure — 58 Kent Owner LLC = passthrough disregarded, Lighthouse rent paid to 58 Kent Owner LLC (not JV). • 6/24 GAP TRF I 2025 audit smoothly completed. • 7/16 12:31-40p Shawn (batch outreach): "High Street Retail Portfolio" deck to Rui, Doug, Dylan, Andrew, Joseph Shamah (via Adam Goodstein intro) — Chris DeCrosta (Goodspace) leasing edge + George Karnoupakis 15+yr NYC retail AM. • 7/20 8:35a Shawn → Dan (been a while): High Street Retail Portfolio deck sent. • 7/21 11:10p CC Hsu: "Thanks for GAP TRF I 2025 audit — could you send me 2Q26 Investor Report when ready?" • 7/22 6:39a Matt N → CC: "Yes, working on finalizing — will have it by end of the month." • 7/23 6:02p EOD: Q1.26 financials thread w/ CC still active; Josh looped on 58 Kent JV structure Qs. • 7/24 1:54p Rob Ortega → Alison: 58 Kent August invoice sent. • 7/28 8:09a Shawn → Gabe: High Street Retail Portfolio deck. Open follow-up Matt N to deliver 2Q26 Investor Report to CC Hsu by end of month. Shawn's batch outreach continues through the Carlton advisory carve-out list — final Y/N needed from Josh on the revised list (post Battery Global removal) → unlocks Bildner sign-off + Carlton investor blast for the portfolio. Open Items 2Q26 Investor Report to CC Hsu (EOM) · Carlton advisory Y/N (Josh) · Aug invoice (Rob Ortega, done) · Q3 books · Goodspace lease transactions in deck Chronology (auto) 7/16 · Shawn Pandit — Lincoln Final Transition Items | ||||||||||
| Deal | Market | Type | Size | Target Price | Equity / Partner | Broker / Counterparty | Status | Next Action | Due | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sky Park / Airport Business Ctr Sky Park Circle, Irvine CA | Orange County | Ind. Condo Conv. (Mosaic) | ~365,000 SF 3 parcel groups | ~$134M ~$367/SF blended | Jadian (Jake Block / Dan Schuchinsky) | Brandon White (Newmark) Seller: Koll (Scott Lanni) | LOI Resubmitted Ball on seller | Pick a slot — Brandon White offered Tue or Wed 9am–12:30pm PT for Scott Lanni catch-up; confirm HOA/CC&R building-standards structure | Reply this wk | |
Situation Airport Business Center (Sky Park Circle, Irvine) — Mosaic condo-conversion, ~365K SF across 3 parcel groups. Seller: Koll family (Scott Lanni, LanniS@koll.com). Broker: Brandon White (Newmark, brandon.white@nmrk.com). JV w/ Jadian (Jake Block). Condo mapping was recorded ~70 years ago — heirs likely unaware. Economics: $350/SF (groups 1&2) + $375/SF (group 6). 140-150K SF condo sales needed for 10% stabilized yield. Condo pricing $625-700/SF conservative. Levered IRR (rental-only) 11.5% @ 60% LTV. Email chronology (through 7/27) • 5/8 Committee-approved all-cash LOI submitted. • 5/22 Koll returns comments on LOI. • 6/16 Newmark counter. • 6/23 12:57p Josh → Brandon White: signed LOI + redline resubmitted. • 6/25 Family (Koll heirs) meeting — positive. Ball on seller to track down remaining beneficiary questions. • 6/26 1:50a Brandon: "Meeting with family went well — positive result. Beneficiaries want to know more about the building standards that will be maintained (landscaping, appearance) — assume HOA will handle. Scott included to schedule a joint call." • 6/25 10:00p Josh: "Happy to talk. How does Monday 12pm PT or Tuesday 9-11:30am PT work?" • 6/26 9:05a Scott Lanni: "Monday at noon will work for me." • 6/29 Joint call held; ball back on seller for remaining Qs. • 7/11 10:02a Brandon: ABC discussion Teams meeting invite. • 7/27 Sunday brief: Brandon White offered Tue or Wed 9am-12:30pm PT for the Scott Lanni catch-up — sitting 16 days on Josh's side. Family (seller) meeting was positive; open item = HOA/CC&R structure confirmation. Open follow-up Josh owes Brandon a slot (Tue/Wed 9am-12:30pm PT) for the Scott Lanni catch-up. Confirm HOA/CC&R building-standards structure. Top-priority Mosaic OC pursuit; family process is emotionally-driven (see prior "widow legacy" blocker) — profit-share + phased acquisition + foundation-pledge structuring under consideration. | ||||||||||
| Brea (SkyPark Family Property) Brea + Lake Elsinore, CA | OC / IE | Industrial (Mosaic) | ~500,000 SF 104 tenants | $400-450/SF | TBD | John Collins (Voit) — off-market | Coming to Market | PIO listing signed; Argus/photos/Phase I ordered; owner open to splitting Brea from Lake Elsinore | Mid-year listing | |
Situation SkyPark family off-market deal — Brea + Lake Elsinore. ~500K SF / 104 tenants; 89-91yo patriarch. John Collins (Voit): "more when, not if." 30-45d DD + 10-15d close proposed. Owner open to splitting Brea from Lake Elsinore. ~77K SF Spectrum building possible trade (~$28-29M). Email chronology (through 7/28) • 7/16 10:42a-1:25p William Frank ↔ team: multi-round on 3501/3511 Thomas combined pricing (parallel thread). • 7/26 3:22p John Collins (Voit): "Brea Micro Market — Small Bay Report" sent. • 7/28 11:00a Peter K: "Brea" (working the model / underwrite). Open follow-up PIO (Property Information Overview) listing signed; Argus/photos/Phase I ordered. Broker leaning toward mid-year listing. Confirm split strategy (Brea only vs bundled w/ Lake Elsinore) before formal listing goes live. | ||||||||||
| Torrey Pines Business Park San Diego, CA | San Diego | Multi-Tenant Flex / Office | Multi-bldg | ~$298/SF asking | TBD | Seller: Oxford | In Pipeline | Re-evaluate; sale-comps map delivered (72 SV comps) | Active review | |
Situation Multi-tenant flex/office campus, San Diego. Asking $298/sf. Seller (Oxford) cost basis $550/sf. All-vacant. Tours Jul 14-16; call for offers ~Jul 20. Coastal Commission zone risk — site within 5mi of coast, prior owner did full flood mitigation. Consultant explicitly recommended against proceeding (Commission "extremely strict"). Mosaic Weekly agreed: submit a lowball to remain in contention without spending on DD. Email chronology (through 7/28) • 7/23 5:34p Peter K → Josh/Jared: "My Claude is out of commission for a few hours." Josh: "I just upgraded you now. You need Claude access." • 7/23 6:59p Peter: "OK check this one out. There's a button on the cover sheet to open the map." (Torrey Pines comps map delivered) • 7/24 8:33a Josh: "Just had my claude do it. Now when you click street view, it doesn't have to open a new tab — game changer." • 7/24 11:39a Josh → Peter/Jared: comps mini-site live at torrey-pines-comps.pages.dev. • 7/27 12:00p Fellow (Mosaic Weekly): Coastal Commission consultant flagged same extensive flood-mitigation likely required as prior owner. Commission's reputation "extremely strict." Peter noted competitive pricing impossible for condo-conversion end goal (buyers not pursuing subdivision would avoid Coastal process). Team agreed: submit lowball offer, no DD spend. • 7/28 3:21a Liam Bettez (arch): Friday morning GC catch-up call — asking Josh what time works ("earlier the better"). • 7/28 10:59a Phil Linton: "Torrey Pines Business Park Supplemental DD" — space plans, roof conditions, power summary added to folder. • 7/28 11:38a Phil: Unit map added to file. Open follow-up Phil now has supplemental seller DD (space plans, roof, power). Josh owes Liam Bettez a Friday morning GC catch-up slot. Josh to write the lowball offer (Mosaic Weekly delegated to Phil w/ standard form). | ||||||||||
| IndiCap × VAC (Co-GP) Arizona / SW | Southwest | Shallow-Bay Industrial Dev Fund | [TBD] | [TBD] | IndiCap / VAC (Co-GP) | Direct — Co-GP opportunity | Under Evaluation | Review Co-GP terms; assess fund structure & economics | This Week | |
Situation Co-GP opportunity on a shallow-bay industrial development fund (IndiCap × VAC). Sourced through Baruch Litwin (GLJ) alongside the Morvay Co-GP. Diligence log open — evaluating fund structure, economics, and Greenmont's Co-GP role. Email chronology (through 7/28) • 7/20-21 Josh emailing himself "Indicap and Morvay" — self-notes; queued for review. • 7/21 7:07a Josh: FW: IndiCap - Small Bay Strategy. • 7/27 2:12p Josh: internal "Indicap" note. • 7/28 11:20a Baruch Litwin: "Re: IndiCap - Small Bay Strategy" — follow-up on structure. • 7/28 11:21a Josh: "RE: IndiCap - Small Bay Strategy" — engaged. Open follow-up Josh working through IndiCap's Small Bay Strategy materials w/ Baruch; details on Co-GP terms + economics still to come. | ||||||||||
| Commerce Business Park 3303 Harbor Blvd, Costa Mesa CA | Orange County | Multi-Tenant Industrial | ~177,861 SF | $51.6M $290 PSF LOI | PIMCO (Eyal looped) | Kyle McGillen (C&W) Seller: DWS (Deutsche Bank) | JV Structuring | Respond to Jake Block's 7/8 questions (18d stale on Josh); confirm JV framing w/ Phil Linton re John; await Mark Heavey callback on JV structure w/ C3 | Overdue reply | |
Situation ON HOLD as of 7/23 — but city meeting Tue 7/28 1:30pm PT just confirmed. Prior LOI at $290 PSF / $51.6M to Kyle McGillen (C&W), seller DWS. Below Kyle's $300 floor + Peter's $325 downside UW (intentional lowball). 2× 2.5% deposit = $2.58M; 30-day DD, 30-day close. Bundled w/ Park 151 on PIMCO equity. Costa Mesa city (Yeager) leaning into commercial-condo-conversion process. Email chronology (through 7/28) • 7/8 Jake Block reviewed materials + sent questions/thoughts — 18+ days stale on Josh side. • 7/16 3:02p Shawn Pandit: internal note. • 7/17 6:01p EOD includes Costa Mesa in queue. • 7/19-20 Sunday brief flags Jake Block review + Phil Linton offering to call John re a JV on Costa Mesa (~12d stale). • 7/22 4:46a Morning Wake Brief; 6:02p EOD both flag Costa Mesa JV pending Mark Heavey callback. • 7/27 8:26a Sunday brief: "Costa Mesa — respond to Jake Block; Phil Linton also offered to call John re a JV. Top-priority active deal, JV structuring can't advance until you re-engage Jake." • 7/27 6:01p EOD: 3303 Harbor — City condo-conversion process meeting confirmed Tue 1:30PM PT (Yeager/Heavey); Phil Linton / Mark Heavey call re structure with John — awaiting Mark's callback. Open follow-up Costa Mesa city meeting today 1:30-2:00pm PT (Christopher Yeager, Josh, Jared, Jake Block, Mark Heavey). Josh owes Jake Block a written response on his 7/8 questions/thoughts. Awaiting Mark's callback on JV structure w/ C3. | ||||||||||
| Park 151 / Interstate Partners Sun Prairie, WI | Madison, WI | Class A Light Industrial | ~641,892 SF 5+ buildings | [TBD] | PIMCO (bundled w/ Commerce) | Ben Filkouski (CCIM) Source: Jared Rechnitz | Due Diligence | Confirm SCP renewal (exp 2/28/27); push for nVent guaranty on Trachte; assess WI Volleyball credit | Ongoing DD | |
Situation Class A light-industrial, ~641,892 SF across 5+ buildings, Sun Prairie, WI. Broker: Ben Filkouski (Madison, CCIM). Sourced by Jared. PIMCO equity bundled w/ Costa Mesa. Credit profile: 70.2% public IG (Home Depot, Milwaukee Tool, SCP, Trachte/nVent), 15% strong private, 10.6% VC (WI Volleyball/LOVB — weak link), 4.2% PE-backed. Credit score ~Low-A / BBB+ equivalent. Email chronology (through 7/28) • 6/4 Eyal/Jared forwarded Park 151 LOI for signature — still unsigned by Josh (53 days stale). • 7/21 9:42a Peter K: "Follow Ups for Uniek" (parallel thread; Ben Filkouski overlap). • 7/22 2:51p Peter K: "Re: Real Estate Opportunity connect" (Jonny Weiss coordination overlap). • 7/23 5:27p Peter K: same thread continued. • 7/24 12:34p Shawn: Updated High Street Model out. • 7/24 4:38p Peter K: "Intro - Midloch x Greenmont" — Griffin Palmer intro thread (Midloch mandate: 2000s+ product). • 7/27 6:01p EOD carry-forward: "Park 151 — LOI signature (Eyal/Jared fwd 6/4) ~53d — Sign the LOI". • 7/28 11:00a Peter K: "Brea" (adjacent Voit model work). Open follow-up Josh to sign the Park 151 LOI — 53 days stale, blocking DD. Confirm SCP renewal notice (2/28/27); push nVent guaranty on Trachte; assess WI Volleyball credit. | ||||||||||
| Morvay Co-GP (2 deals) Kuser Rd NJ + Space Coast FL | NJ / FL | Shallow-Bay Industrial | Kuser: 43K+75K dev SC: 266K dev (31 ac) | Kuser: $8.7M SC: $6.8M | Morvay Holdings (David Rottenberg / Ken) | Baruch Litwin (intro) Lender: High Peaks Capital | Under Evaluation | Review materials; respond to Rottenberg blue-text comments from 7/22 | This Week | |
Situation Two shallow-bay industrial Co-GP opportunities via Baruch Litwin (GLJ) → David Rottenberg (Morvay Holdings). Lender: High Peaks Capital. Kuser Rd NJ (Hamilton): 43K SF existing + 7ac → 75K SF ground-up. 5yr hold. 26% IRR proj. Houzer 1.5yr leaseback. GC: G William Group. Contingent on entitlements. Space Coast FL: 31ac; 266K SF planned. 3.5yr hold. 28.36% IRR proj. Retail pad flip (Metro Commercial). Contingent on site plan approvals; outside closing 12/18/26 (hard). Email chronology (through 7/28) • 7/21 4:08p Josh → Ken Kay: "David, thank you very much for the intro. Ken – nice to meet you, hope you have a quiet week." (Morvay/LA industrial parallel intro) • 7/22 6:49a Josh → Rottenberg: initial reply on Morvay materials. • 7/22 7:40a David Rottenberg: blue-text comments reply. • 7/24 12:45p Ken Kay: RE introduction re LA industrial (parallel thread). • 7/26 4:50a Josh: FW: intro re LA industrial (queued reminder). • 7/27 1:30p Josh → Rottenberg: "For Space Coast — how much have you spent on site planning to date and how much more before approval? How long after approval until non-refundable + close?" • 7/27 1:52p David Rottenberg: "$25K goes out this week on site planning; $65K up in deposits. $600K from today to site-plan approval; $1M (add'l $400K) through full CDs for Phase I. We've gone hard — can't terminate except for inability to get gov approvals. Outside closing 12/18/26. Recommend taking through full CDs pre-close." Open follow-up Capital-call flow starting ($25K site-planning spend this week, another ~$65K queued). Josh still owes Rottenberg detailed follow-up on the blue-text comments. Kuser 26% IRR / Space Coast 28% IRR to be pressure-tested at Greenmont level. | ||||||||||
| Carlsbad Pacific Coast 5205 Avenida Encinas, Carlsbad CA | San Diego | Multi-Tenant Industrial | 120-130K SF | $45M ~$350/SF | TBD | Blake Wilson (CBRE) | Tour Today | Walkthrough TODAY 7/23; obtain rent roll; Ted Shaw on Carlsbad entitlements | Today 7/23 | |
Situation BKM/DJL owner. $44M original 2023 purchase. $2.50 NNN in-place (target $2.70). ~1,500-2,000 SF units. 3 parking/1000 SF. Carlsbad city doing "180" on entitlements — actively pushing projects. Broker: Blake Wilson (CBRE). Coastal Commission zone but no floodplain — condo-conversion path plausible if no physical work. Email chronology (through 7/28) • 7/22 2:06p Phil Linton: "Commercial Condo Conversion Entitlements" thread. • 7/23 1:36-37p Josh: FW: Mosaic — internal mapped deals outreach (Carlsbad in the "Pipeline: Airport, Carlsbad, Brea" bucket). • 7/24 9:39a Josh → Phil: "RE: BKM - Carlsbad" — floated $45M offer for discussion. • 7/24 9:46a Phil: reply. • 7/24 9:54a Josh: "RE: BKM - Carlsbad" (confirms lowball offer track). • 7/24 6:01p EOD: "BKM Carlsbad — floated USD 45M offer for discussion." • 7/27 12:00p Mosaic Weekly Call: Coastal Commission review zone but no floodplain; Mark rated entitlement risk low given no physical changes. Team asked their consultant for preliminary research at no charge; Phil to follow up. Josh: "Submit an offer at $45 to gauge seller interest before spending on consultants." Mark agreed — no response = deal not worth pursuing. Josh delegated the offer to Phil using standard form. Open follow-up Phil to write $45M lowball offer using standard form. Phil to follow up w/ Coastal Commission consultant on prelim research + decide whether deeper diligence is warranted. Walkthrough was 7/23; rent roll still pending; Ted Shaw on Carlsbad entitlements. | ||||||||||
| Target | City | Source | Status | Priority | Broker / Contact | Price Signal | Next Action | Due | Reminder |
|---|---|---|---|---|---|---|---|---|---|
| 423 Lano St & 1691 Villa Stone Dr | San Jose, CA (95125) | LoopNet | Owner Not Selling | Low | Brian Mason EB Mason CRE | TBD | Owner declined 7/24 ("not sellers"). Keep Brian warm for future SV small-bay; re-check ownership sell-interest in 90 days | Passive / 90-day | ✓ 90-day (Oct 22) |
Situation Adjacent multi-tenant light-industrial units on Lano St + Villa Stone Dr, S. San Jose (Willow Glen, near Hwy 87). Small-bay flex — existing tenants incl. auto parts (Intex), auto repair (TDW), stone yard (Bay Area Stone). Classic Mosaic profile. Josh emailed Brian 7/24 12:22pm — intro, Mosaic track record links (Thomas Santa Clara close, OC deals), asked if owner would consider selling. Brian replied 7/24 12:39pm: "This ownership are not sellers. Sorry! Good luck!" Owner not a seller — no active deal. Brian kept as warm SV small-bay contact for future looks. Brian is founder/principal EB Mason CRE, 30+yr CRE, buyer/seller/tenant/landlord rep. Reminder 90-day check-in set (cron brian-mason-423-lano, fires Oct 22, 2026) — re-confirm owner sell-interest with Brian. | |||||||||
| 1296-1306 Reamwood Ave | Sunnyvale, CA | LoopNet | Dead — Pricing | Low | Jeffrey Helm Helm Properties | Passed | Passed 7/24 — economics don't work ($1.55 PSF NNN + $1.45 first-yr concession ≈ ~3.0% cap). Helm kept warm as Bay Area small-bay comp source | Dead | — n/a |
Situation Two owners — one wants to sell, other doesn't + doesn't want partners. Josh's angle: cash-out selling partner. Sourced via LoopNet 7/15. Update 7/23 5:48pm: Jeffrey Helm confirmed no short-term — 3yr minimum, 5yr preferred; short-term structuring angle killed. DEAD 7/24: Josh passed — economics don't work at Helm's numbers ($1.55 PSF NNN + $1.45 first-yr concession ≈ ~3.0% fully-stabilized cap). Helm relationship left warm — solid Bay Area small-bay comp source for future looks. Reminder None — deal dead, no chase needed. Helm stays a warm comp contact. Chronology (auto) 7/24 · Peter Koziolkowsky — LoopNet Lead for 1296-1306 Reamwood Ave 7/24 · Jeffrey Helm — LoopNet Lead for 1296-1306 Reamwood Ave | |||||||||
| 110 Pioneer Way | Mountain View, CA | LoopNet | Bid-Ask 2x Apart | Low | Ralph Longo Global Commercial | Ours $350 · Seller ~$700 | Broker called (7/24): seller turned down $700 PSF previously — our $350 well below. Park unless seller resets; 90-day check-in | Oct 22 (90d) | ● Live 90d · next Oct 22 |
Situation Josh offered $350 PSF 7/16. Owner previously had offers at $700 PSF and turned them down — so gap is wide. Ball on seller. Reminder Cron 96b3f2d0 · recurring every 90 days · next fire Oct 22, 2026. On fire: Jarvis drafts a check-in to Ralph Longo (rlongo@globalcommercialprop.com, 408-529-1362) and pings Josh for approval. Chronology (auto) 7/16 · LoopNet No Reply — Your LoopNet inquiry was sent | |||||||||
| 1710 Ringwood Ave | San Jose, CA | Mapped | Not Selling — Door Cracked | Low | Scott Prosser + Ian Halker Cushman & Wakefield | TBD | Owner Chi Ray Wu not selling (tenant extended 5yr, won't lose income) — 7/27. Ian: "if attractive, we can try" — C&W will run an unsolicited offer. Josh: stay close for now | Park / revisit | ✓ 12-mo (Jul 2027) |
Situation Owner Chi Ray Wu (confirmed 7/27, corrects earlier Pei Wu / Doris Patterson guess). Shallow-bay/multi-tenant industrial, San Jose. C&W's Scott Prosser + Ian Halker working owner contact for Greenmont (cc Jared Rechnitz). Email chronology (through 7/27) • 7/13 Josh → Scott: "any interest in selling?" • 7/20 4:39p Scott loops in Ian Halker; "made attempts, no contact yet." • 7/20 7:42p Ian: "working on making contact w/ owners… will push for feedback next couple days." • 7/21 Josh: "Fantastic – keep us posted." • 7/27 11:29a Josh: "any luck here?" • 7/27 3:39p Ian: connected w/ owner Chi Ray Wu — not selling; tenant just extended 5 yrs, doesn't want to lose income. "If you think it is attractive, we can always try" an offer. • 7/27 Josh → Ian: "Makes sense… let's just stay close for now. Any other deals you're working on?" • 7/27 Ian: "Absolutely — we'll stay close! We have quite a few assets on the market… should connect this week." Open follow-up Ian offered to share his other on-market assets + a call "this week" — live lead for new deal flow beyond Ringwood. Reminder Cron 6d5c4f86 · recurring 12-mo · first fires ~Jul 2027 → Telegram. Options at re-check: (a) draft unsolicited offer to Chi Ray Wu via Ian, or (b) confirm tenant/credit shift. (Old one-time chase cron 0883b6f8 fired 7/24, now removed.) Chronology (auto) 7/27 · Ian Halker/USA — 1710 Ringwood Ave 7/28 · Ian Halker/USA — 1710 Ringwood Ave | |||||||||
| Sorrento View Business Park | Sorrento Mesa, San Diego | Mapped | Warm — Interested | Med | Justin Rimel | Invesco-owned | Await Justin's intro into Invesco; follow up ~7/29 | ~Jul 29 | ⚠ Not set |
Situation Josh replied to Justin Rimel 7/22; Justin replied same day with interest. Invesco-owned. Gauging willingness to trade. Reminder No cron set. Say the word and I'll schedule a ~Jul 29 nudge to follow up on the Invesco intro. Chronology (auto) 7/22 · Rimel, Justin — Sorrento View Business Park | |||||||||
| 500 S Andreasen Dr | Escondido, CA | Mapped | Need Intro | Med | Jake (to reach out) | Blackstone-owned | Get Jake to reach out to Blackstone on disposition interest | Pending Jake | ⚠ Not set |
Situation Blackstone-owned. Josh wants Jake to make the approach. Added from 7/23 map email. Reminder No cron set — waiting on Jake to initiate. Want a reminder to chase Jake if no movement by a set date? | |||||||||
| 2807 Oregon | Torrance, CA | Mapped | Outreach Sent | Med | Kyle | DWS-owned | Follow up with Kyle on DWS disposition read | Awaiting reply | ⚠ Not set |
Situation DWS-owned. Josh reached out to Kyle. Added from 7/23 map email. (DWS = same seller as Commerce/Costa Mesa.) Reminder No cron set — awaiting Kyle's reply. Want a chase reminder if he goes quiet? | |||||||||
| 1257 Tasman Dr | Santa Clara, CA | Mapped | Price Floated | Med | Ryan Adlesh CBRE San Jose | >$400 PSF | Get Ryan's feedback / seller read on >$400 PSF | Sep 18 (60d) | ● Live 60d · next Sep 18 |
Situation Josh told leasing agent Ryan we'd be north of $400 PSF (7/20). Owner not a seller as of 7/20. Team: Josh + Jared. Reminder Cron e53f6f0f · recurring 60d · next Sep 18. Internal nudge to Josh to circle back with Ryan Adlesh (Ryan.Adlesh@cbre.com, 805-709-1089). | |||||||||
| 1675 Walsh Ave | Santa Clara, CA | Mapped | Not a Seller (yet) | Med | Brent Dressen Colliers | — | Stay very close — owners aging, could change; 60-day touch | Sep 14 | ● Live 60d · next Sep 14 |
Situation Josh reached out to Brent (brent.dressen@colliers.com, 408-202-4740, SIOR) 7/13. Per Brent 7/15: not a seller now but getting older, could change — stay very close. Recorded condo map = high Mosaic fit. Brent offered coffee on Josh's next SV visit. Reminder Cron 4663a0e9 · recurring 60d · next Sep 14. ⚠ A duplicate cron a35dffc4 (Sep 18) also exists — flagged to de-dupe. Chronology (auto) 7/15 · Dressen, Brent — 1675 Walsh Avenue | |||||||||
| 151 E Evelyn Ave | Mountain View, CA | Mapped | Won't Sell | Low | Eric Sorensen Cushman & Wakefield | TBD | Parked — owner won't sell (7/15); 90-day check-in cycle | Oct 22 | ● Live 90d · next Oct 22 |
Situation Eric Sorensen (C&W, eric.c.sorensen@cushwake.com) said ownership won't sell. Parked. Email chronology (through 7/16) • 7/15 4:44p LoopNet inquiry submitted (Listing ID 32567307) to Eric Sorensen, Greg Pickett, Minh Phan: "Was wondering if ownership is interested in selling?" • 7/15 4:53p Eric Sorensen: "Hi Josh - they will not sell." (sent from iPhone) Reminder Cron 893a2124 · quarterly (~90d) · next Oct 22. On fire: Jarvis pings Josh to check back with Eric Sorensen on any change. Chronology (auto) 7/16 · LoopNet No Reply — Your LoopNet inquiry was sent | |||||||||
| 3000-3016 Lawrence Expy | Santa Clara, CA | LoopNet | Not a Seller | Low | Carrie Priest Dollinger Properties | — | 90-day check-in on ownership willingness | Oct 22 (90d) | ● Live 90d · next Oct 22 |
Situation Owner is not a seller at this time. Josh sent Mosaic track record 7/16. Parked. Reminder Cron 6e32021b · recurring 90d · next Oct 22. On fire: Jarvis drafts a warm check-in to Carrie Priest (carrie@dollingerproperties.com, 650-642-4907) for approval. Chronology (auto) 7/16 · LoopNet No Reply — Your LoopNet inquiry was sent | |||||||||
| 630 Giguere | Santa Clara, CA | Mapped | Cash Cow — No Sell | Low | Daniel (direct owner) 408-978-8150 | — | Reach out periodically; stay close for when it changes | Oct 22 (90d) | ● Live 90d · next Oct 22 |
Situation Josh spoke to owner Daniel 7/20. Family owned since the '80s, self-manages, cash cow, does not want to sell. Direct owner (not a broker): 408-978-8150. Reminder Cron fcb3bb04 · quarterly (~90d) · next Oct 22. On fire: Jarvis pings Josh for a warm stay-in-touch call to Daniel directly (Rule 0a — Josh makes owner contact himself). | |||||||||
| 1230 Activity Dr | N. County San Diego | Mapped | Owner Declined | Low | Daniel Knoke + Peter Merz Lee & Associates | — | Owner won't sell now; keep Lee & Assoc relationship warm | Sep 5 | ● Live one-time · Sep 5 |
Situation Knoke (dknoke@lee-associates.com) + Merz (pmerz@lee-associates.com). Owner doesn't want to sell now. Knoke replied 7/22, Josh followed up same day. Reminder Cron 76253207 · one-time · Sep 5 (~45d) — a relationship check-in on Lee & Assoc's broader North County SD pipeline fit ($10-75M), broader than this single parcel. | |||||||||
| Thread | Contact | Age | Where It Stands | Next Step | Link |
|---|---|---|---|---|---|
| BAIP sale analysis | Josh self-note / Peter / Jonathan Etra (Tryperion) | ~18d | Awaiting Josh Josh emailed himself a to-do list: update BAIP sale analysis + Muller draft. | Update sale analysis; loop Peter / Tryperion (Jonathan Etra) | — |
History Josh self-note (7/6 4:35PM): "Update BAIP sale analysis, Muller draft." Jonathan Etra at Tryperion is the JV partner (same house as 295 Ella). Peter likely owns the model work. Next Step Confirm with Josh if still live or superseded by the 295 Ella / Greyhill sale track. | |||||
| Thread | Contact | Age | Where It Stands | Next Step | Link |
|---|---|---|---|---|---|
| 295 Ella / BAIP — Offer | Ian Heyman (Rosewood Realty) | ~stale | Parked Superseded — the live 295 Ella track is Ajax (Ian Blatt) at $20M via Coffman/JLL, w/ Tryperion (Etra) back-up. Greyhill/Rosewood no longer the active buyer. | Keep Ian warm only if Ajax collapses; not the current process | 295 Ella |
History Ian Heyman (Rosewood Realty Group) — earlier "Offer" thread; Rosewood (David Wildes) had intro'd Greyhill as a buyer (~$20M / 11.9% going-in), Josh sent loan matrix + comps 7/22. As of 7/27 the disposition runs through JLL/Coffman with Ajax (accepted $20M, stalling on signature) and Tryperion as back-up — Greyhill/Rosewood track is parked. Next Step Only re-engage Ian if Ajax + Tryperion both fall through. Not the live track. | |||||
| Columbus OH — STNL Package | Adam Goodstein (Seastone Capital) | Recent | CP Ball Josh replied 7/23; awaiting Adam's response on the Columbus STNL package. | Await Adam's read; monitor | — |
History Adam Goodstein (Seastone Capital) sent a Columbus OH single-tenant net-lease package. Distinct from 250 High St Columbus. Adam is also the Tryperion/295 Ella JV intro and 364 Lincoln CO thread contact — an active relationship. Next Step Await Adam's reply. Low urgency. | |||||
| Morvay // Greenmont Co-GP | Baruch Litwin (GLJ) / David Rottenberg | ~2d | CP Ball Josh working Rottenberg's blue-text comments; Baruch coordinating. | Respond to Rottenberg 7/22 comments (also on deal row) | Active → Morvay Co-GP |
History Baruch Litwin (GLJ, bj@gljrep.com) intro'd the Morvay Co-GP (Kuser Rd NJ + Space Coast FL shallow-bay). Also intro'd "LA industrial" thread w/ Ken Kay. Lender: High Peaks Capital. Email chronology (through 7/28) • 7/21 4:08p Josh → David Rottenberg + Ken Kay: "David, thank you very much for the intro. Ken – very nice to meet you and hope you have a quiet week." (Rottenberg intro'd Ken for LA industrial parallel) • 7/22 6:49a Josh → Rottenberg: initial reply on Morvay materials. • 7/22 11:38a Rottenberg: blue-text comments reply on Kuser + Space Coast structure. • 7/24 12:45p Ken Kay: separate reply on LA industrial intro. • 7/27 1:30p Josh → Rottenberg: "For Space Coast — how much have you spent on site planning to date, how much before approval, and how long after approval to non-refundable + close?" • 7/27 1:52p Rottenberg: $25K spend this week + $65K in deposits; $600K to site-plan approval, $1M through full CDs (Phase I). Deal is hard — can't terminate except for gov approval failure. Outside closing 12/18/26. Next Step Josh owes Rottenberg detailed follow-up on the blue-text comments; capital-call flow starting. | |||||
| Jonathan Weiss — Real Estate Opportunity | Jonathan Weiss | ~1d | CP Ball Uniek-related connect; Josh engaged, awaiting Jonathan. | Monitor for reply | 805 Uniek Recap |
History Jonathan Weiss ("Jonny," jonny.s.weiss@gmail.com) intro'd Adam McMaster (SVP Finance, Fortistar) as a candidate LP on 805 Uniek. Now running downside-scenario DD. Email chronology (through 7/27) • 7/21 7:32p Eyal → Adam McMaster + Jonny: attached spreadsheets sent. • 7/22 2:58p Adam McMaster (Fortistar): "Have you run downside scenarios? If not, please run: (1) Uniek exercises option but FMV flat, (2) Uniek doesn't extend, revert to FMV + downtime + TIs, (3) Uniek doesn't extend, FMV flat to last contract rent + downtime + TIs." • 7/22 4:45p Peter K: "This should cover it — description of each scenario is upfront. Held perm refi we've been assuming." • 7/23 11:00a Josh: "This looks right — worst case is 9.6% IRR / 1.6x multiple. Jonny are we good to go back with this?" • 7/23 12:03p Jonny: "Yes, I'm flying across the country all day today. If you're ok sending, please do!" • 7/23 12:38p Josh → Peter: "Peter do you want to loop yourself into the email with Adam and send?" • 7/23 1:27p Peter → Adam: 3-scenario model attached, cover sheet + assumption toggles. • 7/27 10:15a Jonny → Adam: "Let us know if you have any questions after you've had a chance to review." • 7/27 10:20a Adam McMaster: "Sent a revised memo over to Adam C. this morning. Will come back with any Qs." • 7/27 10:25a Jonny: "Great. Thank you. JSW" Next Step Ball on Adam C. (internal Fortistar) reviewing Adam McMaster's revised memo. Josh/team monitor for questions; keep Jonny in the loop. | |||||
| Jesse Krantz — Intro via Dov Herzberg | Jesse Krantz | ~1d | CP Ball Josh replied 7/23 1:29PM; awaiting Jesse. | Monitor; qualify the intro | — |
History Jesse Krantz (jesseskrantz@gmail.com) intro'd via Dov Herzberg. Formerly Triton Pacific Capital Partners; candidate for deal-origination-through-close role Josh is filling. Email chronology (through 7/28) • 7/23 6:02a Jesse Krantz: "Dov mentioned you're looking for candidates with deal experience taking transactions from origination through close. Attached is my resume. Happy to connect." • 7/23 5:28-29a Josh: FW'd internally (Eyal loop) + reply → "Hey Jesse – great to meet you! Are you free for a call next week? How is Tuesday looking?" • 7/23 10:59p Jesse: "Nice to meet you too. Tuesday morning (any time before noon) works for me." • 7/24 4:48a Josh: Teams invite created (Tue 7/28 12-12:30pm ET). • 7/24 10:26a Jesse: Accepted the invite. Next Step Call Tue 7/28 12pm ET — qualify fit for the origination-to-close role Josh is filling. | |||||
| Sorrento View — Invesco intro | Justin Rimel | ~2d | CP Ball Justin interested; working an intro into Invesco. | Await Invesco intro; follow up ~7/29 (⚠ no cron yet) | Pursuit → Sorrento View |
History Sorrento View Business Park (Sorrento Mesa, San Diego) is Invesco-owned. Justin Rimel → intro'd Todd Bassen → intro'd Chris Cole (Chris_cole@invesco.com) as the right person to reach out to on Sorrento View. Email chronology (through 7/28) • 7/22 Josh replied to Justin Rimel; Justin replied same day w/ interest — flagged Todd Bassen for the Invesco intro. • 7/24 6:01p EOD: "Invesco intro handoff to Todd Bassen fwd'd from Eyal." • 7/26 4:55a Josh: initial "Sorrento View Business Park" self-note. • 7/27 2:00p Josh → Chris Cole (cc Eyal): "Got your contact info from Todd Bassen who said you'd be the right person to reach out to. Was wondering if there is appetite for selling here? We've bought 4 SoCal industrial assets in the last year, similar profile. Would be great to connect." • 7/28 8:19a Josh: FW to self — "Remind me to follow up with this guy on Thursday." • 7/28 8:31a Jarvis: Reminder cron scheduled Thu 7/30 9:00am PT → Telegram nudge. Next Step If Chris Cole hasn't responded by Thu 7/30, Jarvis pings Josh to bump. | |||||
| 1710 Ringwood — seller read | Ian Halker + Scott Prosser (C&W) | Resolved 7/27 | Answered Owner Chi Ray Wu NOT selling (5yr tenant extension). Door cracked for unsolicited offer. | Parked — Josh said stay close; revisit ~Jul 2027 or if tenant credit shifts | Pursuit → 1710 Ringwood |
History Scott Prosser knows the owners; Josh pushed him 7/20 for a seller read "over the next couple days." Ian Halker (Ian.Halker@cushwake.com, 612-803-8377) working owner contact. Reminder cron 0883b6f8 fires 7/24 10am PT. Next Step Cron auto-drafts a follow-up tomorrow for Josh's approval. | |||||
Contract-flip strategy: tie up parcels adjacent to new utility substations/transmission lines before public need, assign or back-to-back close to utility or DC developer. Primary zone: Ellis County, TX — Oncor building new 765/345kV substation + switch station in Stainback/Farrar Road corridor (I-45 SE DFW), serving hyperscaler cluster (Google, Amazon, QTS, Databank, Compass, Skybox, Stack). Investor already sold land to Oncor in this corridor → Play 1 validated. Secondary: Houston/CenterPoint Hockley/Becker 345kV (fresh Apr 2026 route selection).
| Parcel | Location | Acreage | Owner | Dist. to Node | Basis / Notes | Next Action | Due |
|---|---|---|---|---|---|---|---|
| ±96.7ac Farrar Rd ALL-STAR PICK | Palmer, TX 75152 | ~96.7 | Hilda Moya (CoStar) | ~1.0 mi | APN 186660. Dry (no floodplain). Flat ag. CoStar tags retail but land is raw ag. Off-market = no proven willingness. Owner/basis CoStar-inferred, not deed-verified. | Ellis CAD deed pull to verify ownership/basis; assemblage check (Martha Stewart, Nydia Garcia, undisclosed 87ac parcel) | Pending CoStar |
Coordinates ~32.4696 / -96.7063 Honesty Flags Off-market — no proven willingness to sell. Owner/basis CoStar-inferred, not deed-verified. CoStar tags "retail" but land is raw agricultural. Condemnation risk exists if Oncor can condemn cheaply. Assemblage Partners Martha Stewart (adjacent), Nydia Garcia (adjacent), undisclosed 87ac owner — need CAD deed pulls on all three. | |||||||
| 1629 Hunsucker Rd 60 ac | Palmer, TX | ~60 | Apollo RE Holdings (Jan 2026) | ~0.9 mi | #1 on shortlist. Recent buyer — likely flippable at right price. Need TX SOS unmask. | TX SOS unmask Apollo RE Holdings Ltd identity | Pending |
Notes Competition parcel — recent Jan 2026 acquisition suggests awareness of node value. Apollo RE Holdings identity unknown — TX SOS filing needed. | |||||||
| AGC Custom Homes parcel | Farrar Rd area, Palmer TX | — | Angel Gonzales (since 2008) | Near-node | Ideal flip counterparty — transactional builder, raw basis $10.9K/ac. Phone: 972-921-xxxx. | Outreach approach strategy | Pending Josh |
Notes Deep-dive finding. Transactional builder with low basis — ideal for contract flip at meaningful premium to ag value but below utility land value. | |||||||
| Batchler Cir / Matt Rd / FM 983 3 parcels | Palmer area, TX | Various | Various | Near-node | 3 cheapest near-node listings ($15-17K/ac) — ALL in 100-yr floodplain. Cheap BECAUSE they flood. Flood ≠ necessarily disqualifying for utility but limits residential flip. | Assess utility-use viability despite flood | Low priority |
Scoring Insight Price is attractive but flood risk explains low basis. CoStar screen identified these as cheapest near-node parcels. May still work for utility/transmission use if not residential. | |||||||
| Node | Location | Status | Next Action | Due |
|---|---|---|---|---|
| Hockley/Becker 345kV | NW Harris County, TX ~30.0258 / -95.8452 | Screen Complete | Confirm CenterPoint fee-purchase track record (buyer gate); awaiting Josh CoStar export (77447/77484/77445/77493/77355) | Pending CoStar |
Details Fresh Apr 2026 route selection PASSES flip tests. Key verify: does CenterPoint BUY land or condemn? Oncor had proven Ellis precedent; CenterPoint unconfirmed. 943 TX land parcels in CoStar exports, 102 from Dallas area. Williamson County secondary: Muscovy 345kV node (Iron Mountain Taylor Meadows ~500ac anchor). Land repricing $22-25K → $41-68K/ac. | ||||
| Venture | Sector | Lead | Stage | Next Action | Due |
|---|---|---|---|---|---|
| Anann (Israel Data Center) Tzora + Afula | Data Center | Eyal | Capital Raise | Review v13 deck open items (3 red flags flagged 6/12); track K3 co-lead | Active |
Deal $75M @ $275M pre-money = 21.4% Day-1. Base case 4.72x MOIC / 32.6% IRR / 5.5yr hold to 2031 / $354M sponsor proceeds. K3 Family Office (Apostolos Kakkos) named co-lead. Structure Tzora 28.5 MW IT + Afula Ph1 80 MW IT = 108.5 MW IT by 2031. Total project cost $1,535M (85% LTC senior debt). 2031 EBITDA $207M. 18x exit → EV $3.0B. Lian Group (Michele Di Minno) modeling. Open v13 review delivered 6/12: (1) Slide 4 MW IT contradiction; (2) Afula timeline model mismatch; (3) Slide 28 sensitivity cells off. Ball on Eyal/Peter to reconcile. | |||||
| Anann — Secondary | Data Center | Eyal | Structuring | Confirm secondary terms & participants | [confirm] |
Note Anann secondary opportunity — details to be confirmed. Related to primary Anann DC raise (Eyal-led). | |||||
| Anann — New Raise | Data Center | Eyal | Structuring | Confirm new-raise size, timing & use of proceeds | [confirm] |
Note New Anann capital raise (distinct from secondary). Size/timing to be confirmed. | |||||
| United Cost Segregation w/ Matthew Gigantelli | Tax Services | Josh / Eyal | Definitive Docs | Finalize re-papered terms w/ Matt; nail accounting/monitoring fee; Dentons draft turn | Active |
Structure UCS Venture LLC + UCS Investor LLC (DE, via Taylor Lolya). David Zalaznick (JZ Advisors) = majority capital. Greenmont (Josh+Eyal) sponsors. Gigantelli founder/operator. Term sheet executed 6/1; Matt withdrew 7/15, deal re-papered 7/17 (simplified). Open Steve Rist (Dentons) definitive-agreement draft outstanding. Confirm Dentons = DZ's counsel. Q3 historical monthly books still owed by Matt. | |||||
| Offensive Cybersecurity Co. | Cybersecurity | Josh | Under Evaluation | Confirm company, check size & investment thesis | [confirm] |
Note Investment in an offensive cybersecurity company. Company name, structure, and terms to be confirmed — drop docs/thread to populate. | |||||
| Nursing Homes | Healthcare / SNF | Josh | Early Look | Confirm market, operator & deal structure | [confirm] |
Note Skilled-nursing / senior-care opportunity. Details to be confirmed. (Prior Seniors-101 work exists — confirm if related.) | |||||
| Restaurant Venture [name TBC] | Restaurant / F&B | Josh | Early Look | Confirm concept, operator, check size & investment thesis | [confirm] |
Note New venture opp flagged by Josh 2026-07-28 — "some sort restaurant business." Concept, operator, structure and check size all TBC. Distinct from 555 Washington / Chubby buildout (existing NYC restaurant PROJECT, not a venture investment). Awaiting Josh to share materials. | |||||
| Item | Area | Owner | Status | Next Action | Due |
|---|---|---|---|---|---|
| Yardi Upgrade | Systems | Josh / Matt | In Progress | Confirm upgrade scope, timeline & vendor contact | [confirm] |
Note Yardi platform upgrade. Scope/timeline to be confirmed. | |||||
| PTO Policy | HR | Josh | Drafting | Finalize PTO policy & roll out to team | [confirm] |
Note Company PTO policy — drafting/finalizing. Details to be confirmed. | |||||
| Staffing | HR | Josh | Ongoing | Track open roles & hiring pipeline | Ongoing |
Note Staffing / hiring. Open roles and candidates to be tracked here. | |||||
| Terminations | HR | Josh | As Needed | Track any pending personnel actions | Confidential |
Note Personnel / termination matters. Sensitive — keep detail minimal. | |||||
| Broker | Firm | Phone | Market / Deal | Role | Status | Last Contact | |
|---|---|---|---|---|---|---|---|
| ① Live Engagements16active deals / working relationships | |||||||
| Brian Mason | EB Mason CRE | brian@ebmasoncre.com | 408-472-9498 | Silicon Valley small-bay industrial / 423 Lano St & 1691 Villa Stone Dr, San Jose | Founder / Principal (30+ yr CRE) | Active | 2026-07-24 |
| Christian Lee | CBRE | christian.lee@cbre.com ⚠ verify | South FL capital markets / 555 Washington valuation team | Vice Chairman | Active | 2026-07-17 | |
| Jeff Carr | CBRE | jeff.carr@cbre.com ⚠ verify | OC/SoCal industrial disposition / Alcalde (Laguna 3) listing & lease-up | Sr VP, Sales | Active | 2026-07-20 | |
| Ryan Adlesh | CBRE | Ryan.Adlesh@cbre.com | C 805-709-1089 | Silicon Valley industrial / 1257 Tasman Dr, Santa Clara | Sales | Active | 2026-07-20 |
| Sean R. Kelly | CBRE | sean.kelly@cbre.com ⚠ verify | South FL capital markets / 555 Washington BOV + Two Town Center, Boca Raton | Capital Markets (First VP) | Active | 2026-07-17 | |
| Brent Dressen | Colliers | brent.dressen@colliers.com | Direct 408-282-3979 / Mobile 408-202-4740 | Silicon Valley / 1675 Walsh Avenue (recorded condo map) | Sales | Active | 2026-07-15 |
| Kyle McGillen | Cushman & Wakefield | kyle.mcgillen@cushwake.com | Direct 949-930-9229 / Mobile 206-372-0423 | Costa Mesa / 3303 Harbor Blvd (Commerce Business Park); prior: Goodyear Irvine | Sales | Active | 2026-06-11 |
| Ralph Longo | Global Commercial Properties | rlongo@globalcommercialprop.com | (408) 529-1362 | Silicon Valley / 110 Pioneer Way, Mountain View | Sales | Active | 2026-07-16 |
| David Coffman | JLL | David.Coffman@jll.com | Northeast industrial capital markets / 295 Ella Grasso Tpke disposition | Sr Director, Capital Markets | Active | 2026-07-23 | |
| Daniel Knoke | Lee & Associates | dknoke@lee-associates.com | 760.929.7836 | North San Diego small-bay industrial parks (20–40k SF). 1230 Activity Dr intro 7/22/2026. | Sales | Active | 2026-07-22 |
| Peter Merz | Lee & Associates | pmerz@lee-associates.com | North San Diego small-bay industrial parks (20–40k SF). 1230 Activity Dr intro 7/22/2026 with Daniel Knoke. | Sales | Active | 2026-07-22 | |
| Brett Siegel | Newmark | brett.siegel@nmrk.com ⚠ verify | T 212-372-0798 / M 516-458-1872 | NY retail capital markets / High Street Portfolio LOI (lead seller-side) | Capital Markets | Active | 2026-07-22 |
| Meaghan Philbin | Newmark | meaghan.philbin@nmrk.com ⚠ verify | NY retail capital markets / High Street Retail Portfolio LOI (seller-side) | Associate Director | Active | 2026-07-23 | |
| Zack Streit | Priority Capital / TBC | ⚠ firm+email TBC | Debt & equity capital markets / intro via Jared ("four property recap") | Capital Markets (intro) | Warm Intro | 2026-07-21 | |
| Ron Dalal | TBC (Aviara seller-side) | ⚠ firm+email TBC | Industrial portfolio / Aviara Portfolio (passed — keep warm) | Sales | Cold | 2026-07-16 | |
| Sean McDonald | Voit Real Estate Services | ⚠ email TBC | C 949-351-7113 | SoCal small-bay industrial / off-market Gardena small-bay (+ rent roll) | Sales | Active | 2026-07-23 |
| ② Needs Check-In11contacted before — gone quiet, worth a touch | |||||||
| Cameron Merrill | CBRE | cameron.merril@cbre.com | Broker who toured us through commerce on 9.4.2025 | Leasing | Active | 2025-09-04 | |
| Gian Bruno | Colliers | gian.bruno@colliers.com | Broker on Temecula deal sent 9.4.25 | Sales | Active | 2026-02-05 | |
| Kenny Patricia | Colliers | kenny.patricia@colliers.com | Broker on Temecula deal sent 9.4.25 | Sales | Active | 2025-09-04 | |
| Michael Kendall | Colliers | michael.kendall@colliers.com | Broker on Temecula deal sent 9.4.25 | Sales | Active | 2025-09-04 | |
| Zach Niles | JLL | Zach.Niles@jll.com | Broker on Anaheim | Sales | Active | 2026-02-17 | |
| John Witherall | Kidder Mathews | Oceanside | Sales + Leasing | Active | 2026-03-12 | ||
| John Collins | Lee & Associates | jcollins@lee-associates.com | Broker on Laguna, Huntington 1 | Sales + Leasing | Active | 2026-03-12 | |
| Tim Walker | Lee & Associates | timwalker@lee-associates.com | Leasing broker on 1540-1570 Reynolds - Mapped deal we made unsolicted offer on | Leasing | Active | 2026-02-17 | |
| Brandon White | Newmark | brandon.white@nmrk.com | Broker on Costa Mesa | Sales + Leasing | Active | 2026-02-17 | |
| Joey Farney | Newmark | joey.farney@nmrk.com | Leasing broker who toured commerce with us on 9.4.2025 | Leasing | Active | 2025-09-04 | |
| Trent Walker | Voit Real Estate Services | twalker@voitco.com | Leasing broker on Irvine Barranca | Leasing broker on Barranca | Leasing | Active | 2026-02-17 | |
| ③ Haven't Contacted45new / mapped brokers — no outreach yet | |||||||
| Greg Geraci | North Hollywood | New | — | ||||
| Jeffrey Richards | Oceanside | New | — | ||||
| Karen Sunday | Santa Ana | New | — | ||||
| Kevin Carroll | North Hollywood | New | — | ||||
| Kevin Lee | Anaheim | New | — | ||||
| Robert Colacion | Gardena | New | — | ||||
| Rusty Williams | San Marcos | New | — | ||||
| Gary Martinez | Ashwill Associates | gary@ashwillassociates.com | Broker on Yorba Linda | New | — | ||
| Eric Cox | CBRE | eric.a.cox@cbre.com | Broker on Kearny Mesa | New | — | ||
| Hunter Rowe | CBRE | hunter.rowe@cbre.com | Broker on Kearny Mesa | New | — | ||
| Joe Cesta | CBRE | joe.cesta@cbre.com | Broker on Kearny Mesa | New | — | ||
| Jonathan Garrick | CBRE | jonathan.garrick@cbre.com | Broker on Signal Hill | New | — | ||
| Robert Ferraro | CBRE | Union City | New | — | |||
| Ryan Sparks | CBRE | San Diego | New | — | |||
| Sean Williams | CBRE | San Diego | New | — | |||
| Thomas Taylor | CBRE | Fremont | New | — | |||
| Vince Machado | CBRE | Fremont | New | — | |||
| Matt Dierckman | Colliers | Sylmar | New | — | |||
| Mike Carrigg | Colliers | Livermore | New | — | |||
| Mike Lloyd | Colliers | Livermore | New | — | |||
| Brett Lockwood | Cushman & Wakefield | Anaheim | New | — | |||
| Bryce Aberg | Cushman & Wakefield | bryce.aberg@cushwake.com | Broker on San Marcos | Broker on La Costa Meadows | New | — | ||
| Charlie Jacobs | Cushman & Wakefield | charles.jacobs@cushwake.com | Broker on La Costa Meadows | New | — | ||
| Conor Boyle | Cushman & Wakefield | San Marcos | New | — | |||
| JEFF CHIATE | Cushman & Wakefield | jeff.chiate@cushwake.com | Broker on Barranca | Sales brker on Barranca | New | — | ||
| Kris Hagar | Cushman & Wakefield | Concord | New | — | |||
| Louay Alsadek | Cushman & Wakefield | louay.alsadek@cushwake.com | Broker on La Costa Meadows | New | — | ||
| Maddie Mawby | Cushman & Wakefield | maddie.mawby@cushwake.com | Broker on La Costa Meadows | New | — | ||
| Nico Napolitano | Cushman & Wakefield | nico.napolitano@cushwake.com | Broker on Bellgrave | New | — | ||
| Randy Ellison | Cushman & Wakefield | Costa Mesa | New | — | |||
| STEVE BOHANNON | Cushman & Wakefield | steve.bohannon@cushwake.com | Broker Buggati Business Park | New | — | ||
| Steve Pace | Cushman & Wakefield | Steve.Pace@cushwake.com | Broker on O'Toole which we bid on | New | — | ||
| Tyler Epting | Cushman & Wakefield | Concord | New | — | |||
| Jim Benson | Kidder Mathews | Oceanside | New | — | |||
| Andrew Gage | Lee & Associates | agage@lee-associates.com | Broker on Pacoima | Sales | Broker on Pacoima | — | |
| Dale Camera | Lee & Associates | Santa Ana | New | — | |||
| Erica Balin | Lee & Associates | ebalin@lee-re.com | Broker on Calabasas small bay deal | New | — | ||
| Scott Caswell | Lee & Associates | scaswell@lee-re.com | Broker on Calabasas small bay deal | New | — | ||
| Sean Ahern | Lee & Associates | Costa Mesa | New | — | |||
| J.R. Williamson | NAI Capital Commercial | Santa Ana | New | — | |||
| Nick Krakower | SRS Real Estate Partners | nick.krakower@srsre.com | Broker on Pacoima | Sales | Broker on Pacoima | — | |
| Peter Joyce | Stream Realty Partners | Moreno Valley | New | — | |||
| Mike Vernick | Voit Real Estate Services | Cerritos | New | — | |||
| Patrick Connors | Voit Real Estate Services | San Diego | New | — | |||
| Ryan Moore | Voit Real Estate Services | Corona | New | — | |||