Acquisition Criteria


Basic Criteria: Cencor Realty Services looks for individual property capitalization of $5 million to $100 million, and multi-property portfolios up to $200 million.

Our focus is on low- to mid-teens-leveraged returns on core/core-plus type centers and mid to high teens on value-added centers. Our hold periods typically are five to 10 years with moderate leverage.

Geographic Criteria: Cencor limits its investments to Texas, specifically the major metropolitan areas of Texas: Dallas/Fort Worth, Austin, Houston and San Antonio, as well as their surrounding suburbs.

Structure: We acquire on a direct equity basis and a joint venture basis, depending on the nature of the acquisition target. We are flexible and will consider any structure, including the assumption of existing debt, partnering with the existing owner or a challenging financial opportunity.

Our primary joint venture equity partner is GE Capital Real Estate. Our strategic alliance with GE Capital Real Estate will allow us to evaluate and close transactions on an accelerated time frame to meet the objectives of sellers, partners and lenders. With GE Capital Real Estate and our existing city partners and brokers, Cencor can typically close transactions in a timely manner to suit the needs of the seller. 


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