Commercial & investment real estate
The right deal starts before a property hits the market.
Looking for your next investment, or weighing a sale? We help buyers reach owners beyond the listing search and help owners explore a private sale. We review the income, pricing assumptions and unanswered questions with you, so you can decide whether an opportunity makes sense.
For buyers
Look past what’s listed.
Listed inventory is what every buyer sees. We start from your criteria, research the properties and owners that fit, and contact those owners directly. Not every owner wants to sell, but the conversations reach properties that a listing search never shows.
When something is worth discussing, you get the income assumptions, an indicative price at your target cap rate and a list of what still needs verifying, so you can decide quickly whether to go further.
We work with investors and owners across the United States on multifamily, retail, office, industrial and mixed-use property. Direct outreach to owners who haven’t listed is focused on Florida today, and each owner is researched through ownership records, sales history and the tax roll before we make contact. Outside Florida, we work together with a broker licensed in the property’s state. We focus on transactions of about $20 million to over $100 million, and smaller deals are welcome too: clients often grow with us.
For owners
Considering a sale doesn’t mean announcing one.
A loan coming due, a partner who wants out or an estate to settle can each make a sale worth pricing, without putting the property on the open market.
We start with what the income supports and who is likely to buy. If you go further, we agree on how the property is presented and what may be shared before any buyer is approached.
Know why a property deserves a closer look.
When we bring you an opportunity, we explain how it fits your search, what the available income information supports and what still needs checking. You can see which figures come from records and which depend on assumptions before deciding whether to go further.
The sample below shows how we organize that review. The property and figures are illustrative.
Investment reviewSample review: 28-unit apartment property
Illustrative example — not an available property
The buyer’s criteria
- Multifamily, 20 to 40 units
- Broward County, east of I-95
- $4 million to $6 million
- 6.5% cap rate on the purchase price
- 1031 replacement, 180-day closing deadline
Income and indicative pricing
- Effective gross income
- $539,000
- Operating expenses (42%)
- −$226,000
- Net operating income
- $312,000
- Value at a 6.5% cap rate
- $4.81 million
Still to verify
- Roof age and the cost of wind insurance at renewal
- Rent roll checked against signed leases and deposits
- Property taxes after the sale, once reassessed at the purchase price
- Milestone (recertification) inspection status
Prepared by Closed Door Deals · closeddoordeals.com
1031 exchanges
Buying a replacement property against a deadline?
Share your exchange stage, purchase size and dates. The search starts with properties that fit the investment and can realistically work within the 45- and 180-day periods, coordinated with your exchange advisor when you authorize it.
How a private search or sale works
The full process and common questions1
Agree on the goal
For a buyer, the criteria and how your interest is introduced. For an owner, the goals, the timing and what may be shared with whom.
2
Open the conversations
Owners whose properties fit the search, or buyers selected for the property. Identifying details follow a signed confidentiality agreement.
3
Decide on the numbers
The income, the assumptions behind it and the open questions, laid out so the next step is yours to choose.
Led by Pinchas Zerbib
Pinchas is a Florida-licensed REALTOR® who came to real estate from technology and data, and he invests in property himself. He is the point of contact for every client, from the first conversation on.
Buying or selling? Start with the specifics.
For a search, the property type, markets and budget. For a sale, the type of property and its general location. That is enough for a first conversation, and the first conversation is free.