The 1.8 million sf. mixed-use Town Center at Virginia Beach. Development lead, leasing and management by Divaris Real Estate, Inc.
Cobalt is a fully integrated affiliate of Divaris Real Estate, Inc, a company with a forty-two year successful pedigree as a developer, re-positioning expert, and a specialist in leasing and managing the full range of commercial property types. Our principals are recognized industry leaders, averaging more than 30 years of senior management experience with some of the most prominent operating companies and institutional capital managers.
We have ready access to deal flow, including proprietary relationships with direct owner networks. Our skills cover all areas of the strategy and business plan execution. We have proven performance as excellent stewards of institutional capital. The cumulative experience of the team exceeds more than 200 million square feet of commercial properties valued at more than $35 billion.
Cumulative experience of the team is outstanding. We have leased and managed more
than 200 million sf. and directed the successful deployment of more than $5 billion in development capital.
Accounting and software systems in place with 26 million sf. under management.
Excellent internal leasing team and access to national broker networks for specialized needs.
The principals have long tenured relationships with owner/operators for direct
transactions as well as deep relationships with national and regional leasing and
selling broker networks.
Sponsor has continuously operated for more than 41 years. Most of the principals have worked together, many for twenty years or longer.
We are seeking Value-Add real estate investment opportunities, where our unique skill sets can be used to re-position the property and create value for the investors. Our target net returns to the investors are 15% or greater. We utilize our leasing team and couple that with local broker participation to: lease-up vacancies, improve the mix of tenants, capitalize on mark to market rent upgrade opportunities and improve the credit-worthiness of the overall tenancy. In addition, we provide the needed capital to improve the physical condition f the property, seek expansion and land-use intensification and where the opportunity exists expand the property or acquire adjacent parcels to combine for an overall improvement in the property.
We are judicious with new investment and continually mindful of a successful realization of the investment.
Property Types Sought: Office, Medical Office, Retail, Residential, Logistics, Mixed-use
Targeted Markets: Dynamic markets with above average demographics, Expected above average household and job growth. Generally markets with 100,000 persons or more. eastern seaboard, south and southeast states, mid-west
Focused on large US markets with more than 200,000 persons and other selective dynamic markets with strong growth forecasts.
Invest only into institutional quality assets or properties that will become institutional quality after repositioning is completed.
Looking for well-balanced property fundamentals including strong competitive position, tenant demand and rent growth.