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 Primary Target Markets
Asset Age
Prefer (1990) or newer (could be as old as 1985 on a case by case basis), but we will consider older properties with quality construction and desirable location. Michael Franks will acquire renovation/reposition opportunities on a case by case basis.
Deal Structure and Size
Typically, all-cash transactions, but we will consider assumption of existing financing or seller financing if the terms are favorable. Michael Franks will consider single asset acquisitions as well as large portfolios with favorable deal structures. We are also actively seeking joint venture development and pre-sale opportunities along with broken condo conversions. Please call for more information.
 Submissions
Please contact our acquisition team prior to sending any new submissions. Michael Franks maintains an extensive database to help us determine if we have any interest in the property and if it has been submitted previously.
To complete a preliminary pricing analysis, Michael Franks requires the following information:
- Full property description
- Previous year's year-end operating statement
- Current tax bill
- Terms of financing (if assumable)
- Market information
- Color photographs (including sales and rental comps)
- Location map
- Current rent roll
- Trailing-12 detailed operating statement
You may also contact the Director of Acquisitions, Darrell Walsh or his assistant Tara Tague, at (847) 241-2321, with any questions. Michael Franks extensive database helps us to quickly determine if we have any interest in the property and if it has been recently submitted.
Our primary target markets include:
- Dallas
- Ft Worth
- Phoenix
- Colorado
- Southern California
- Florida
Basic Steps to Acquisition
- Establish and maintain productive relationships with Brokerage firms on a nationwide basis.
- Research and identify properties strategically located within secondary markets at prices below their replacement value.
- Perform total investment analysis, to include property site inspections and assessment, analyze market surveys, and perform feasibility study, capitalizing on the experience and expertise of in-house acquisitions, construction, and property management teams.
- Negotiate terms of acquisition, conduct due-diligence, formulate investor groups, and facilitate financing and funding of project.
- Provide property management staffing and training, install and maintain state-of-the-art information management systems, and maintain full accountability for daily operations at the project site.
With markets consistently changing, Michael Franks continually monitors and evaluates each property on an individual basis. Should current market surveys and economic indicators deem it advisable, the profitable disposition of a property can be facilitated efficiently, cost effectively, and expeditiously.
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