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Acme Capital

Pipeline/Cascade Industrial Park

Cascade Industrial Park

Demo
Portland, ORMapIndustrialvia Marcus Chen – JLLDue Diligence

Stage Checklist

Due Diligence

Demo data1 of 4 complete
Order Phase I environmental report
Review and verify rent rolls
Complete legal review and title search
Finalize financing and term sheet

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Overview

Demo data
Multi-tenant industrial park, 180,000 SF, Portland OR. 96% occupied with mix of light manufacturing and distribution tenants. Long WALT of 4.2 years.

Risks

Demo data
- Portland market has seen some tenant exodus - One large tenant (22% of NRI) has early termination option in year 3 - Roof on Building C needs replacement

Notes

Demo data
Received OM from Marcus Chen on 3/3. Strong industrial fundamentals. Scheduling site visit next week.

Financial Snapshot

Demo data

Purchase Price

$22,400,000

NOI

$1,456,000

Cap Rate

6.50%

Debt Rate

6.75%

LTV

65.00%

Projected IRR

16.40%

Strong WALT of 4.2 years. Assumes mark-to-market on renewal at 5% above current rents.

Underwriting Score

Demo data75/100

75

out of 100

8 of 8 criteria scored

Location Grade

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Established Portland industrial corridor with good freeway access; some tenant exodus in the broader market warrants caution.

Tenant Quality

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Diversified mix of light manufacturing and distribution tenants with no single tenant above 25% of net rental income.

Lease Term Remaining

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Strong WALT of 4.2 years provides meaningful cash flow visibility across the projected hold period.

Debt Coverage Ratio

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96% occupancy and a long WALT support DSCR well above 1.30x under current financing assumptions.

Cap Rate vs Threshold

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6.5% cap rate exceeds our threshold; industrial premium is justified by tenant quality and weighted lease term.

Market Demand

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Portland industrial demand is softer than Sunbelt peers; market rent growth has moderated in recent quarters.

Physical Condition

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Building C roof requires replacement; total deferred capex across the park is estimated at approximately $600k.

Exit Strategy Clarity

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Mark-to-market on lease renewal and exit at a tighter industrial cap is a clear and achievable strategy.

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Contacts

Demo data
Marcus ChenbrokerSource

JLL

Decision Log

Demo data
Deal Createdabout 2 months ago

by Alex Rivera

Stage Changedabout 2 months ago

New → Screening

by Alex Rivera

Stage Changedabout 2 months ago

Screening → Due Diligence

by Alex Rivera

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