Size of Desired Investments

Acquisition Price Range: $3,000,000 to $100,000,000

"We would like to purchase up to $100,000,000 of real estate in the next 12 months."

Leverage

"Bianco Properties has the resources and capability to purchase all-cash, cash-to-assumed-mortgage, or with new acquisition financing. Most recent purchases have tended to be on an all-cash basis with financing, if desired, added later."

Quality and Term of the Investment

"We are long term investors and currently have properties in our portfolio that we have owned for as long as forty-five years. The average ownership period of our existing portfolio is over twenty years.

Therefore, we take a very long term viewpoint to our investments relying less on what we see today, and more on what we anticipate in the future. This is a keystone of our investment philosophy that enters into most purchase decisions.

Fundamentally, our view of the location and its future, the quality (including design, construction, & maintenance) of the improvements to the property, and the internal rate of return (IRR) generated over a considerable period of time form the basis of our investment decisions."

Special Situations

Turnarounds, rehabs, & REOs are actively sought.

"In the past, we have totally vacated apartment complexes, done rehabilitation work, and re-leased the property from scratch. We have completely remodeled shopping centers including the addition of new store fronts, the construction of additional buildings, the creation of outlots, and the renegotiation of a major portion of the existing leases."

Form of Ownership

"We purchase only for our own account."

Age of Desired Properties

Minimum: Leaseup completed
Maximum: None

"Age is not a significant part of our acquisition criteria. Historically the company has acquired properties ranging from 1 to 70+ years of age."

Cap Rates and Yields

"Our purchase decisions are made as the result of in-depth study and after review of a comprehensive computerized IRR analysis. We make our own decisions based on the facts as we assemble them, and as we interpret our plans for the operation of the property.

We find it of little value to discuss minimum required cap rates or yields because it encourages others to try to do our analysis for us. This doesn't work since only we, from our experience, can evaluate what we find interesting in a potential transaction. Obviously, if we are going to successfully acquire additional parcels of real estate, we must be competitive in the marketplace.

We have successfully acquired properties over the past forty-five years, and intend to be successful acquiring real estate in the next forty-five. We are competitive in the prices we pay for quality investment properties."

The Role of the Broker

"We act solely as principals in our purchases. We understand that signed listings are often difficult to obtain, and will protect the commissions of the brokers with whom we work, but we ask that, without prior agreement, they only bring us properties in which they are dealing directly with the property owner, and not through another broker."

PLEASE CONTACT:
Daniel Wolk Senior Vice President & Director of Acquisitions Ph: 314.872.8500, Ext 413	Allan Steele Vice-President Ph: 314.872.8500, Ext 414
Ph: 314.872.8500