Clubhouse

The Estate

Clubhouse
Swimming Pool
Clubhouse
Clubhouse interior
Estates Unit
Estates Dog Park
Estates Facade

Property Summary

Year Built                                          1989

Number of Units                              208

Gross Building Area          186.300 SF

Average Unit Size                      880 SF

The Estates

In March 2013 Confinance acquired The Estates, a 208-unit class B+ apartment community located in suburban Baltimore. Cofinance acquired the asset below replacement cost and executed on a strategy to reposition the asset by upgrading the amenity base and renovating select units. The acquisition was financed with a favorable fixed-rate loan through Freddie Mac

Over the Mountain portfolio – BIRMINGHAM

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MISSION

Cofinance Inc. acquired early 2014 a residential complex of 438 apartments of two and three room in the city of Homewood, on the outskirts of Birmingham (Alabama). The investment program is to improve the rental potential with a rental value review program. On this basis, with a strategic vacancy of 12%, the annual rental reaches $ 2.3 million end of 2015 an estimated $ 10 million.

Over the Mountain portfolio

Birmingham (Alabama)

TEMPSAcquisition of apartments in 2014

438 apartments

Shore Center – OHIO

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MISSION

In early 2005, Cofinance Inc. acquired a shopping centre in Euclid, Ohio consisting of fifteen shops with a total square footage of 111,000 square feet. The annual rental income amounted to $1.3 million as of the end of 2015, for a value of $12 million.

Shore Center

OHIO

TEMPSAcquisition of a shopping center in 2005

111,000 sq ft in surface area

Newburgh Town Center – NEW JERSEY

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MISSION

From 1999 to 2003, Cofinance Inc. developed a shopping centre called “Newburgh Town Center” in Newburgh, New Jersey. The initial investment of $24 million was used to develop total retail space of 146,000 square feet and build 696 parking spaces. Due to the wide variety of stores and the extensive offering, rents increased steadily, reaching $2.5 million in late 2005, for an asset value estimated at more than $34 million.

Newburgh Town Center

New-York

TEMPSAcquisition of land and development of a shopping centre.

Surface area of 146 000 square feet

227 West 61st – NEW YORK

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MISSION

In 2005, Cofinance Inc. acquired an office building built in 1927 and renovated in 1981, with an area of 74,000 square feet in New York City. The building is leased by the city and occupied by the Beacon School. The rent (NNN) is $3.3 million per year. The value at the end of 2015 is estimated at more than $70 million.

227 West 61st – MANHATTAN

Manhattan (New York)

TEMPSAcquisition of an office building in 2005

Surface of 74 000 square feet

Airport Center – Los Angeles

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MISSION

In 1992, Cofinance Inc. acquired property near the Los Angeles Airport in California. The investment strategy is based on leasing the land to tenants operating over long periods (30 to 90 years): hotel, car park, residential, office. The underlying property complex has a total area of 556,000 square feet and a net income of $3 million.

Airport Center

Los Angeles (Californie)

TEMPSThe property was acquired in 1992

Total surface of 556 000 square feet

Portefeuille Tops – NEW YORK Inc

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MISSION

In 2010, Cofinance Inc. acquired a portfolio of six retail properties in upstate New York whose anchor store is the Tops Market. The portfolio managed by Cofinance on behalf of its partners covers 45 tenants and over 703,000 square feet in leasable space for current revenue of $5.2 million. The portfolio value is estimated at more than $50 million.

Portefeuille Tops

Buffalo (Etat de New-York)

TEMPSAcquisition of 6 shopping center in 2010

Surface area of 703 000 square feet

Leroy Merlin

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PROJECT

Acquisition of the retail property, initially leased to LECLERC, with a view to renovating it to accommodate the brand LEROY MERLIN.

Discussions are ongoing for a complete redevelopment of the site to build a new retail park of 13,000 m2.

Leroy Merlin

Laval (Mayenne)

TEMPSAcquisition of a commercial complex in 2004

10785 sf in surface area

SOMMEProject worth €20 million