Property Details
Stabilized Income  Below Market Occupancy  NOI Growth 
Asset Profile
Value Add

Bethesda Walk Shopping Center

Lawrenceville, GA

Retail Property
Unison Realty Partners LLC Boston, MA
Unison Realty Partners LLC
  • IRR 16%
  • Equity Multiple 1.76x
  • Hold Period 4Y
  • Minimum Investment $10K
  • Year 1 Cash on Cash 1.8%
  • Stabilized Cash on Cash 9.6% in Y3
  • First Distribution Jul 2019
  • Distribution Frequency Quarterly
  • Co-Investment 54%
  • Preferred Return 10%
  • Investor Profit Share 70%
  • Asset Profile Value Add
  • Loan-to-Value 85.9%
  • Current Occupancy 85.6%

About this Property

Why This property?

John DiOrio (Unison Realty Partners LLC): The property is a combination of key fundamentals that Unison looks for in an investment: a credit-worthy grocery anchor (Walmart Neighborhood Market), a strong geographic market with a growing population (Atlanta MSA), and a discounted purchase price ($130 per square foot). Together, these fundamentals make for what Unison views as a defensive investment with opportunity to generate attractive returns.

Why Do You Like This Strategy?

John DiOrio (Unison Realty Partners LLC): Unison focuses on necessity-based retail because they are typically properties that can generate strong cashflow and weather economic cycles. Grocery, food and beverage, and consumer services continue to be sectors that are e-commerce resistant. Because of this, Unison believes necessity-retail centers can become “magnets” for prospective new tenants in a lease-up plan, because they receive more foot traffic and consumer spending than other locations.



How Are You Mitigating Risks?

John DiOrio (Unison Realty Partners LLC):

  • Stability of anchor tenant - Walmart Neighborhood Market is a strong credit tenant, comprises 65% of the center, and has long term remaining on its lease. This significantly mitigates tenant roll risk during the anticipated hold period as compared to other centers.
  • Conservative rental rate underwriting – Unison is underwriting below market rental rates and offering tenant improvement incentive packages to attract prospective retailers within its anticipated hold period.
  • Focus on quality and strategic location – Bethesda Walk has strong visibility and traffic counts, and is located in a growing MSA and submarket with low grocery-anchored retail vacancy (2%). Together, these fundamentals work to better position the center for a lease-up opportunity.

About this Property

Why This property?

John DiOrio (Unison Realty Partners LLC): The property is a combination of key fundamentals that Unison looks for in an investment: a credit-worthy grocery anchor (Walmart Neighborhood Market), a strong geographic market with a growing population (Atlanta MSA), and a discounted purchase price ($130 per square foot). Together, these fundamentals make for what Unison views as a defensive investment with opportunity to generate attractive returns.

Why Do You Like This Strategy?

John DiOrio (Unison Realty Partners LLC): Unison focuses on necessity-based retail because they are typically properties that can generate strong cashflow and weather economic cycles. Grocery, food and beverage, and consumer services continue to be sectors that are e-commerce resistant. Because of this, Unison believes necessity-retail centers can become “magnets” for prospective new tenants in a lease-up plan, because they receive more foot traffic and consumer spending than other locations.



How Are You Mitigating Risks?

John DiOrio (Unison Realty Partners LLC):

  • Stability of anchor tenant - Walmart Neighborhood Market is a strong credit tenant, comprises 65% of the center, and has long term remaining on its lease. This significantly mitigates tenant roll risk during the anticipated hold period as compared to other centers.
  • Conservative rental rate underwriting – Unison is underwriting below market rental rates and offering tenant improvement incentive packages to attract prospective retailers within its anticipated hold period.
  • Focus on quality and strategic location – Bethesda Walk has strong visibility and traffic counts, and is located in a growing MSA and submarket with low grocery-anchored retail vacancy (2%). Together, these fundamentals work to better position the center for a lease-up opportunity.

Offered By

Login or Register to See More Details

Available to Registered Users

  • Get to know the sponsor behind the offering with key information
  • See an overview of their experience and success
  • Understand their investment strategies
  • Easy access to contact the sponsor directly to learn more
Assets Under
Management

Currently
$187.33MM 10+ assets
Exited
$46.4MM less than 10 assets
Portfolio LTV
66%  
Historical
Realized Returns

Total IRR
32.2%  
Equity Multiple
2.28x  
Annual Cash
9.8%  
Years Of
Experience

As Principals
10+ years  
In Business
9 years  
Size
6 Staff * Dedicated investor relations
* All information is reported by Unison Realty Partners LLC as of 3/12/2019.
Assets Under
Management

Currently
$187.33MM 10+ assets
Exited
$46.4MM less than 10 assets
Portfolio LTV
66%  
Historical
Returns

Total IRR
32.2%  
Equity Multiple
2.28x  
Annual Cash
9.8%  
Years Of
Experience

As Principals
10+ years  
In Business
9 years  
Size
6 Staff * Dedicated investor relations
* All information is reported by Unison Realty Partners LLC as of 3/12/2019.

Financials

Login or Register to View Financials

Available to Accredited Investors:

  • Get an overview of important financial details to make a smarter investment
  • Analyze the financial pro forma to see how projected returns are distributed over time
  • Review source and uses and other important details
Offering Financial

Sponsor Diligence Report

Login or Register to View Report

Available to Accredited Investors:

  • View principal experience
  • Review background check results
  • Track record verification
Diligence Preview

Location Details

Lawrenceville, GA

Bethesda Walk is located in Lawrenceville, GA, a growing suburb located 17 miles northeast of downtown Atlanta. The center is proximate to I-85, which is one of Atlanta's most traveled thoroughfares providing direct access to all of Atlanta's major destinations. Atlanta, a top-10 MSA, is the economic, transportation, and cultural hub of the Southeast – it has a top-10 U.S. economy based on GDP, at $385 billion. Atlanta is projected to grow by 49% (2.8 million people) over the next 30 years, which would place it as the nation's 6th largest MSA.

The Property is located in Gwinnett County, which is home to over approximately 930,000 residents, making it the second most populous county in Georgia. Bethesda Walk features strong population density and growth within its immediate trade area. The population within a three-mile radius has grown by 48% since 2000, to more than 100,000 residents and is expected to continue growing 7% over the next 5 years. With average household incomes of $78,000 within a three-mile radius, Walmart Neighborhood Market caters to the surrounding demographic seeking discount-driven consumer goods. Furthermore, Bethesda Walk is the only grocer within a one-mile radius, which further enhances the asset’s positioning as a center of convenience for the community. The Lawrenceville, GA submarket is also experiencing explosive growth in homebuilding, with more than 1,000 homes either currently under construction or in the planning phase, which Unison believes will further drive consumer spending and retailer expansion over time.

Documents

Login or Register to View Documents

Available to Accredited Investors:

  • View, download, and print the offering PPM (Private Placement Memorandum)
  • View, download, and print the detailed financial projections
  • Access all of the important documents for this offering in one place
Offering Agreement Documents

Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

RealCrowd is free for investors. RealCrowd charges a technology access fee to the operating partner for our services. We do not charge investors any upfront fees, ongoing asset management fees or promote/carried interest in the investments.

RealCrowd offerings are open to accredited investors. RealCrowd does not recommend or advise on any offering on our platform. While we have minimum history and experience threshold for sponsors who post on our platform, if you are unable to perform your own due diligence, please consult with an attorney or financial advisor prior to making an investment.

RealCrowd is a marketplace that connects investors with qualified sponsors. We strive for transparency and impartiality. For this reason, we do not participate in any offerings on our site.

Have a Question?

Send Unison Realty Partners LLC and/or RealCrowd a message. If you have a question about this offering ask Unison Realty Partners LLC. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.

Please resolve the captcha and submit.

We'll get back to you soon!

In the meantime, you can create an account to view detailed information about Bethesda Walk Shopping Center.

In the meantime, please review the offering documents and financials.

Sign Up for our free 6 week course on the fundamentals of commercial real estate investing.