Comunale Properties, through its investment affiliate Rectangle, seeks to invest in situational opportunities where value can be created from a lack of hands on management, deferred maintenance, long-standing vacancy or the need of a sophisticated partner. The Rectangle series of partnerships are primarily held by the main principals of Comunale Properties. As a long-term holder with patient capital, many of our acquisitions are projects that are currently vacant, will become vacant in short order or have short term leases.
We are primarily a value-add investor, but look at every project on a risk-adjusted basis and often acquire stabilized deals where the underlying real estate is attractive and resulting cash flows are fairly valued. Our strong access to both high net worth and institutional grade capital, along with speed of execution, longstanding market relationships and streamlined processes allow us to move quickly and capitalize on opportunities as they are presented. This has resulted in Comunale often being viewed as the buyer of choice.
Comunale is currently seeking acquisition opportunities of single-asset and multi-property portfolios from $5,000,000 and up in the Mountain West region, Texas and Northeast Ohio. Additionally, Comunale Properties is actively seeking build-to-suit development opportunities for tenants looking for a long-term development partner.
As part of our acquisitions process, due diligence is a core competency of Rectangle. In order to identify opportunities where value creation can be achieved, thorough due diligence is undertaken on behalf of the company’s principal account as well as for the benefit and interest of its partners. The right due diligence program is a combination of dedicated, quality associates and a continuous review of the process. Our due diligence process includes a detailed review of all asset and market-related documents, extensive interviews with market participants, an evaluation of competitive product, and a financial analysis, which allows us to create a comprehensive investment proforma. A thorough sensitivity analysis is always performed, as understanding potential impacts of market and property related events is crucial to mitigating risk and making informed real estate investment decisions.