The hold period on a typical investment is usually from two to seven years depending on whether the asset is a redevelopment/repositioning strategy or a long-term strong cash flow property.
Our typical waterfall structure is preferred return, then return of 100% of investor capital, and finally a spilt of the investment profits determined by risk factor.
NO NEW DEALS AT THIS TIME
WHAT IS A TYPICAL ACQUISITION?
WHAT IS ROCKSTEP’S ACQUISITIONS PROCESS?
WHAT VALUE CREATION STRATEGIES DOES ROCKSTEP IMPLEMENT?
HOW DOES ROCKSTEP LOWER THE RISK OF AN INVESTMENT?
WILL AN INVESTOR BE REQUIRED TO SIGN A BANK NOTE OR MAKE ADDITIONAL CONTRIBUTIONS?
WHAT IS THE TARGETED HOLDING PERIOD FOR THE INVESTMENT?
DOES ROCKSTEP MAKE AN INVESTMENT IN EACH PROJECT?
WHAT FEES DOES THE MANAGER TYPICALLY RECEIVE?
The Manager (which will be an affiliate of Mr. Weiner and RockStep Capital) will receive customary brokerage fees and property management fees, and is expected to receive construction management fees, that would otherwise be paid to third parties. These fees will be outlined in the Company organizational documents and the private placement memorandum. If the best debt for the entity requires a personal guarantee from the Manager, the Manager might take a loan guarantee fee. At acquisition and disposition, the Manger will typically receive an acquisition and disposition fee. Typically, the Manager does not take an asset management fee, development fee, fund raising fee or administrative fees.
WHAT IS THE TYPICAL INVESTOR PROFILE?
INVESTOR INQUIRY FORM
Interested in potential investment? Please fill out the below form and someone from the RockStep Capital team with be in touch with you shortly.
Acquisitions & Dispositions
RockStep targets all shopping centers in the retail industry specifically well-anchored regional malls, grocery, power, neighborhood and community centers in secondary and tertiary markets.
We have carved out a unique niche and are one of the top private investment buyers in the country of B and C Shopping Malls, grocery anchored centers and power centers in secondary markets.
We invest alongside local investors and our existing and growing group of investors from around the country.
RockStep likes to win! By concentrating our efforts on complex assets with transaction value of $5M to $75M where there is typically a scarcity of capital and less appetite for complexity, we feel we have an edge. We see opportunity in properties that provide challenges that we can overcome, through experience and ingenuity, to add value.
Below are the primary and secondary areas that RockStep focuses on:
RockStep is eagerly exploring emerging markets, seeking out value-add investments and working to identify stabilized properties with any of the following investment criteria:
- Secondary and Tertiary Markets
- Non-major MSAs with maximum population of 750,000
- 50,000 Square Feet and up
- Fortified communities that maintain highly desirable and quantitative amenities
- Large Research University
- Fortune 1000 Business
- Top 250 hospital Network
- Large-scale tourism
- Military Bases
- Low to no State income tax
- Two Major intersections
RockStep is interested in acquiring:
- On Market Deals
- Off Market Deals
- Value-add deals – via renovation, lease-up, and/or capital improvements
- Dominant regional malls in tertiary markets
- Functionally obsolete regional malls in need of repositioning
- Anchored neighborhood or community shopping centers
- Large national anchored power centers
- Grocery anchored centers
- Redevelopment centers
- Properties in distress
- Lender Directed Short Sales
- Bank Notes (Performing and Non-Performing)
- Surplus real estate from retailers
- Rollover risk and credit risk
A typical investment structure for RockStep usually looks like the following:
Single Purpose Entity