After several years of spearheading successful commercial real estate projects in Dallas-Fort Worth and across the southern U.S., we devised a strategic formula to identify value add investment opportunities for BlackWatch and our partners. The greatest value we bring to the table is our relationships, and the ability to recognize underperforming assets and execute creative and innovative strategies to create value. By managing every step in the investment process, from acquisition to disposition, BlackWatch is able to lead the generation of superior returns.
Our team has extensive knowledge of the commercial real estate markets in the South and Southwest U.S. by having worked in each of the Target Markets. We understand the prime locations within specific submarkets, market conditions, pricing and the trends and patterns of tenants and investors.
Our Target Markets are cities that have favorable macro trends, strong population on job growth including:
• Dallas / Fort Worth
• San Antonio
Ownership: Partnership / Co-Investing / Joint Venture
Investment Size: USD $10-50 million
Holding Period: 3 to 7 years
Leverage: 65% - 75%
Active property and asset management, repositioning, redevelopment, renovation, retentanting, leasing and adaptive re-use.
BlackWatch primarily focuses on value add office and mixed-use opportunities in significant growth markets. Our team evaluates key market and building factors in each asset's ability to generate attractive risk adjusted returns, including:
• Short- term and long- term supply and demand characteristics of the marketplace
• Location of an asset relative to its target market
• Potential for appreciation and redevelopment
• Credit and economic terms of its tenancy or business base
• Physical condition and adaptability to upgrading or reuse
• Property management efficiencies
Step 1: Sourcing Deal Flow
Our investment strategy leverages multi-market experience and relationships to identify value added, office and mixed-use properties located in cities that have favorable macro trends, historically strong job and population growth in the southern and southwest U.S. including Dallas/Fort Worth, Houston, Austin, San Antonio, Atlanta and Miami (“Target Markets”). Our team has extensive knowledge of the Target Markets by having worked in each of these cities. We understand the prime locations within specific submarkets, market conditions, pricing and trends of tenants and investors.
Step 2: Due Diligence
Our team has significant relationships with local and national service providers that we utilize to assist us to perform the physical, environmental and financial underwriting tasks. Our team takes a comprehensive and “hands on” approach to identify risk issues and to develop a customized business plan for each asset.
Step 3: Transaction Structure
Our team utilizes Argus software and a proprietary financial model to underwrite the building’s pro-forma and investor returns. We fully vet the operating expenses, capital expenditures and lease up assumptions with numerous sensitivity matrixes. When the pro-forma has been properly scrubbed we apply short and long-term hold scenarios as well as low to high leverage options to understand the most beneficial structure for our partners and BlackWatch.
Step 4: Acquisition
After the completion of the Due Diligence, our team and legal counsel coordinates the closing of the asset(s).
Step 5: Value Creation
This is the part of the process that we enjoy the most. Our team has more than 25+ years in creating and executing innovative plans to turn underperforming buildings into stabilized assets. Please see Case Studies and Project Experience for a select sample of our history with underperforming office and mixed-use assets.
Step 6: Property Management / Leasing
The BlackWatch Difference
BlackWatch has vast experience with property management and takes a detailed, “hands on” approach to each step of the property investment cycle (takeover/transition, stabilization and disposition).
BlackWatch Property Management focuses on delivering increased value with exceptional service. The team prepares a specific business plan for each building to maximize cash-flow and to maintain properties at the highest level while controlling operating expenses and capital expenditures. Our highly experienced team members are collaborative and results driven. For more detailed information please click on the Property Management link.
Given our vast multi-market leasing experience, we are uniquely qualified to select a third party leasing company to increase and stabilize the occupancy of our investments. We interview and vet the most qualified third party leasing personnel and companies that clearly understand our goals and have the focus, submarket knowledge and resources to perform.
Step 7: Asset Management
BlackWatch Asset Management is a strategic manager of value-added and core plus investments in partnership with institutional and private capital investors.
BlackWatch establishes and monitors customized asset management strategies for investment properties owned by the firm. For more detailed information please click on the Asset Management link.
Step 8: Exit
Asset sales and refinancing are based on our investors requirements, market conditions and general investment environment.
2012 BlackWatch Partners, LLC
Connect with us:
BlackWatch Partners, LLC
Lee Park Tower One
3303 Lee Parkway
Dallas, Texas 75219
The BlackWatch Difference
What makes BlackWatch Partners different than other real estate investment and operating companies on the market? Our team brings a new level of energy, creativity and flexibility to the table, along with valuable industry experience and relationships needed to turn smart investments into superior returns.
BlackWatch actively manages each step of the investment process, including sourcing deal flow, due diligence, acquisition, asset and property management, value creation, and multiple exit options, to ensure success.