We do everything with our core values of honesty, hard work, and trust.
We believe these characteristics should influence everything we do in business and in life. We sincerely enjoy the work we do, and our clients get to reap the benefits.
RESOURCES: The Process
Rincon Partners leverages its extensive real estate network developed over their collective 60 years in the real estate industry to identify potential investments for its various investment strategies. Rincon has deep relationships with National and Regional real estate brokerage firms, particularly those that focus on the southwest, developers, REITs and real estate investment companies. It is able to compete aggressively for investment opportunities marketed by real estate brokers and create deals off-market by leveraging its relationships.
Rincon is very selective of the investments it targets, estimating that it evaluates 25 or more deals to find a deal it will pursue. Of the deals Rincon elects to pursue, only a small percentage will be acquired for various reasons including; price, potential financial returns, issues identified in underwriting and due diligence.
Underwriting and Due Diligence
Rincon Partners performs comprehensive underwriting and due diligence on each property it acquires. The firm relies on its vast experience in all facets of real estate investment to effectively underwrite and diligence its acquisitions. Before Rincon acquires any property it will complete the following processes, among others:
Financial modeling of the expected performance and investment returns for the property
Site visit, seller and tenant reviews
Review of the property financial statements, rent roll, lease contracts, operating contracts and other agreements
Obtain and review third party due diligence reports including:
Property condition report
Title and survey reports
Purchase contract negotiation
Negotiation of loan terms and loan agreements
Rincon Partners has extensive experience managing multifamily and net-lease real estate investments having managed over $18 billion of real estate in their careers, including running eight (8) publicly registered non-traded REITs. Their experience includes:
Construction and maintenance management
Vendor selection and relationship management
Project budgeting, revenue enhancement and cost containment
Leasing and marketing strategies and execution
Investor reporting, accounting and systems implementation
Real estate disposition strategies, buyer selection and sales price maximization