Archive for March, 2014

Monterey Estate Lots

Regal Properties, in collaboration with Capital Real Estate Solutions LLC (“CRES”), is pleased to present the opportunity to purchase and build estate homes on 10 fully entitled lender-owned lots, approximately 10-acres each, within the exclusive, gated community of York Highlands on the Monterey peninsula.  These lots can be purchased at a steep discount below market value, with the option to buy 9-27 additional lots at a huge discount to value. Collectively, these 37 lots have an appraised market value of $64MM.

Regal Properties and CRES have already negotiated with the lender to provide 80% loan-to-cost, non-recourse lot acquisition financing at 5%, interest-only, and to finance 80% of the offsite improvement costs (up to $5MM) for each phase for the development of required infrastructure.

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Regal Properties to Sell $30,000,000 Office Building in Austin

The tenant in common owners of the physically and economically distressed property commonly known as Met 15, located at 7301 Metro Center Drive, in Austin, Texas, have hired Regal Properties to sell the property for approximately $30 million.  The property consists of a 257,600 square foot office building leased by two credit-worthy tenants, Progressive Insurance (84.32%) and Waste Management (15.68%).  A letter of intent for the purchase and sale of the property has already been executed by a prospective buyer and the property owners.

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Fresno Area Residential Subdivision

105 Fully Improved Single Family Permit-Ready Lots For Sale or Joint Venture

Regal Properties, in collaboration with Capital Real Estate Solutions LLC (“CRES”), controls 105 fully improved, building permit-ready, residential lots ranging in size from 7,000-13,883 square feet, in the City of Kerman, about 15 miles from downtown Fresno. This thriving farm community has all the required retail services and amenities, including banking, food and drug stores, and a new Super Wal-Mart. The lots are situated on the west side of town by Highway 180 and nearly adjacent to Kerman High School. Demand for housing in the area is strong and new supply is non-existent.  The lots come with a rolling option to purchase in groups of 10 every 6 months, and a lender commitment to provide 5% non-recourse construction financing for six speculative homes and all pre-sold homes.

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82 Golf Course Estate Lots

Regal Properties and Capital Real Estate Solutions LLC (“CRES”) teamed up to purchase 82 golf course estate lots, known as Cochran Ranch Estates, within the gated community of the historic Indian Palms Country Club, founded by the famous aviatrix, Jackie Cochran. The country club development, which began in the 1960’s, is about 95% built out, with 27 holes of golf, a hotel, apartments, condos, duplexes, and single family homes, comprising approximately 2,900 units. This stand alone “island” of lots has its own gate as well as its own homeowners association mak­ing it an ideal development project. All lots were mostly fin­ished, with all utilities in the streets. Regal Properties and CRES found a partner who closed the escrow and gave them an upfront profit as well as a future profits participation. The goal of the purchasing partner is to hold the property for long term appreciation.

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Memphis Value Place Hotel Note Purchases

In February 2014, Regal Properties teamed up with Capital Real Estate Solutions LLC to facilitate the purchase of 2 notes from an Atlanta-based bank on 2 Value Place Extended Stay Hotels in Memphis, Tennessee.  The notes were purchased for 80% of the outstanding principal balances.

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Regal Properties to Sell $30,000,000 Office Building in Austin

The tenant in common owners of the physically and economically distressed property commonly known as Met 15, located at 7301 Metro Center Drive, in Austin, Texas, have hired Regal Properties to sell the property for approximately $30 million.  The property consists of a 257,600 square foot office building leased by two credit-worthy tenants, Progressive Insurance (84.32%) and Waste Management (15.68%).  Regal Properties already has a prospective buyer negotiating a purchase agreement. 

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