Thank you for your interest in acquiring the New York Medical Office Portfolio. This letter is to advise you that the seller has requested a written expression of your interest in purchasing the Portfolio by 4:00pm CST on Wednesday, December 16th, 2015.
Please refer to the Bidding Instructions on page 15 of the Offering Memorandum and consider the following as you prepare your offer letter:
Offer Date – An offer date has been set for Wednesday, December 16th, 2015. All offers should be received by HFF’s Chicago office by 4:00 PM Central Time. Offers can be faxed to (312) 528-3651 or sent via email to the undersigned at HFF. Time is of the essence.
Financing – Please outline your financing assumptions in your offer letter. HFF has concurrently previewed the portfolio with numerous life insurance, bank and CMBS lenders which have each given indicative pricing. Please contact Mark Sixour, 404.942.3189, to discuss available financing alternatives.
Capital Source and Approval Process – Please specify the source of capital for your offer and the remaining approvals required, if any, to execute a binding purchase and sale agreement.
Due Diligence and Closing Process and Timing – Please specify your timing and schedule for due diligence and closing.
Deposits and Timing – Please specify the amount of your earnest money deposit and the milestone schedule for the deposit to become non-refundable.
Closing Costs – Please outline your expectations with respect to closing costs in your offer.
In addition, there have been recent renewals at North Medical Plaza for Digestive Disease Center of CNY (Suite E – 9,843 SF) and Digestive Gastroenterology & Hepatology of CNY (Suite H – 2,755 SF). Please update underwriting accordingly. These renewal details are now available in the HFF document center.
We encourage you to contact one of us with questions or to discuss your underwriting. We look forward to hearing from you and receiving your offer prior to or on Wednesday, December 16th, 2015.
Click here to access the document center containing both the full Offering Memorandum as well as the Argus Models.
Investment Contacts
Philip Mahler
Managing Director
(312) 300-7319
pmahler@hfflp.com
Jose Cruz
Senior Managing Director
(973) 549-2011
jcruz@hfflp.com
Michael Bennett
Managing Director
(312) 528-3694
mbennett@hfflp.com
Ben Appel
Managing Director
(484) 532-4212
bappel@hfflp.com
Mike Janus
Real Estate Analyst
(312) 528-3677
mjanus@hfflp.com
Matt DiCesare
Real Estate Analyst
(312) 300-7305
mdicesare@hfflp.com
Financing Contact
Mark Sixour
Senior Managing Director
(404) 942-3189
msixour@hfflp.com
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