Greenville Promenade

Asset type: Strip Center, Power Center, Neighborhood Center · Location: Greenville, Texas

Dunhill Partners has contracted to acquire Greenville Promenade, a multi-tenant, stabilized 222,649 square foot shopping center on 21.8 acres in a prime retail corridor in Greenville, Texas. The asset is currently 100% leased. In addition to income stability, the acquisition provides significant upside through a mark-to-market opportunity, with average rents that are approximately 25% below market. The acquisition of Greenville Promenade represents the opportunity to acquire a quality retail center at an excellent basis of just $128/ sf and a cap rate of 8.55%. The debt is attractive in today’s environment and will provide steady cash on cash returns to investors with the ability to capture additional upside through marking the rents to market over the hold period. We will be paying a 9% preferred return on your investment, payable monthly. We anticipate holding the property for 5 years and doubling the equity invested. Cash flow and net profits will be split 75% to Investors, 25% to Dunhill Partners after investors reach a 10% annualized return.