Quote:
Originally posted by Diane_Keaton
Um...like they weren't diligencing or looking at the target before then, right.
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The acquisition of a small shopping center (say 200,000 square feet or less, with one anchor tenant) can easily be handled, soup to nuts, including entity formation and loan documents, by a single competent real estate associate in less than 300 total hours. This assumes a professionally-run real estate operating company client using off the rack corporate documents and a lender with an ongoing relationship with the operating company (i.e., the typical situation for clients buying smaller shopping centers). Throw in a couple of leases (extensions or renewals included) and add maybe 50 hours. One could handle 4 of these in 7 months without any help; add a junior associate to do the monkey work, and twice or three-times as many would be realistic.
