Investment Criteria

A&C Ventures specializes in the principal ownership of commercial real estate properties throughout the United States. Our goal is to grow and diversify our portfolio through the acquisition of high-quality, cash-flowing assets with attractive total returns in strong markets. Our in-house asset investment and property management teams have expertise across retail, restaurant, multifamily, industrial and office verticals. We strive to build relationships with our tenants, brokers, finance partners and third-party advisers.

Our investment strategy falls into two primary asset classes: Retail and Multifamily. Secondary investment asset classes include Industrial, Storage, and Mixed-Use Projects. Please below to view our criteria for each asset type.

  • Geography: California, Arizona, New Mexico, Texas, Oklahoma, Colorado, Utah, Nevada, Idaho, Wyoming, Montana, Florida, Georgia, South Carolina, North Carolina, Virginia, Washington D.C., Maryland, Delaware, West Virginia, Ohio, Eastern Oregon, Eastern Washington, Kansas City MSA (see map below).
  • Population: 30,000 or more people within a 5-mile radius.
  • Preferred Market Parameters: High barriers to entry, substantial average household income, strong job and growth demand, favorable business climate, and college towns.
  • Desired Property Specifications: Drive-thru for QSR tenants, high store volume/sales, high Vehicles Per Day sites (VPD). Hard corners, flexible and reusable building shapes (no special purpose buildings). Prefer prototype footprints per tenant’s business model.
  • Building Size: ≤15,000 square feet
  • Rent & Lease:
    • Market Rent: At or below market rents. Strong four-wall economics (i.e. low tenant occupancy factors/coverage, strong EBITDA, NNN or NN with limited landlord exposure are preferred).
    • Lease: Will look at selective assets with short leases.
  • Tenant Credit: Investment grade, shadow credit, clear industry leaders, or large-scale operators/franchisees.
  • Deal Size: Portfolios of $10 Million +, one-off deals considered on a case-by-case basis. No max deal size.
  • Additional Parameters: We will look at direct sale-leasebacks, forward commitments, master lease portfolios, and loan portfolios where the collateral meets the above parameters.
  • Exclusions: Gas stations, dry cleaners, laundromats, movie theaters, auto malls, leaseholds (no building-only assets), retail banking, no Walgreens & Rite Aid.
  • Current Target Tenants and Concepts:
    • E-Commerce & Recession Resistant Sectors / Daily Needs (Tire and Auto Services, Home Improvement, Off-Price Retail, Farm & Rural Supply, etc.)
    • Restaurants: Casual Dining with strong concepts (BJ’s, Texas Roadhouse, Bubba 33 Darden Concepts), Fast Casual (Chipotle, Panera, etc.), and QSR (Taco Bell, Panda, Starbucks, Arby’s, Wendy’s, Long John Silvers, KFC, Chick-fil-A).
    • Grocery (Aldi, HEB, Grocery Outlet, Save Mart, Smart & Final, Trader Joes, etc).
    • Others, Beauty and wellness (Ulta, etc.), Liquor (Total Wine, Bevmo, Specs, etc.), Medical, Dental, Dialysis (Carenow, Sutter Walk-in, Fresenius, DaVita). Must be located in retail centers and have low rents).

  • 3 to 5 Tenant Strip Centers

  • Unanchored Centers

  • Select Grocery Anchored Centers

  • Geography: California, Arizona, New Mexico, Texas, Oklahoma, Colorado, Utah, Nevada, Idaho, Wyoming, Montana, Florida, Georgia, South Carolina, North Carolina, Virginia, Washington D.C., Maryland, Delaware, West Virginia, Ohio, Eastern Oregon, Eastern Washington, Kansas City MSA (see map).
  • Population: 30,000 or more people within a 5-mile radius.
  • Preferred Market Parameters: High barriers to entry, substantial average household income, intense job and growth demand, favorable business climate, and college towns.
  • Desired Specifications: Small retail strip centers 3 to 5 tenants, Unanchored centers, Select Grocery anchored centers. Walmart, Lowes, and Home Depot out parcels. A small vacancy factor considered.
  • Desired Property Specifications: Drive-thru for QSR tenants on the end-cap, high store volume/sales, high Vehicles Per Day sites (VPD). Hard corners, flexible and reusable building shapes (no special purpose buildings). Prefer prototype footprints per tenant’s business model. No individual buildings larger than 15,000 sq. ft. other than anchor.
  • Rent & Lease: At or below market rents, low tenant occupancy factors/coverage, strong EBITDA, NNN or NN with limited landlord exposure are preferred. Will look at selective assets with short leases / WALT. Staggered lease expiration dates are preferred as well as annual rent escalations.
  • Tenant Credit: Some investment grade in the rent roll, Shadow Credit, clear industry leaders, or large-scale operators/franchisees.
  • Deal Size: $2 to $30 million per asset.
  • Additional Parameters: We will consider purchasing loan where the collateral meets the above parameters. We will also consider multifamily & retail mixed-use centers.
  • Asset Class: A/B+ Properties
  • Investment Type: Core, Core-Plus, Value-Add
  • Investment Size: $25m Plus, no max size
  • Unit Count: 100 to 500 units
  • Geography: Western and Mountain States
  • Vintage: 1990’s or newer
  • Markets and Municipalities not subject to rent control
  • Target Markets:
    • Tri-Cities, WA
    • Reno, NV
    • California Central Valley, Sacramento, Non-coastal Student Housing
    • Salt Lake City & Provo, UT
  • Secondary Markets:
    • Kansas City, MO-KS
    • Columbus, OH
    • Chicago, IL
    • Denver, CO
    • Dallas, San Antonio, Austin, TX

Please let us know some information about your property and one of our team members will contact you.

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