Financial Partner for Commercial Real Estate

k25150

I need an investor who has adequate assets to acquire a recently constructed 30,000 sq. ft warehouse structure. The plan is to open an athletic club. Total costs from 4 to 5 million. This includes buying the property and setting up the club.
The location is near Baltimore. It is the largest commercial development along I-95. Billions have been spent on infrastructure. Strong demographics and solid local economy with low unemployment. We will sub-lease space to complimentary businesses like doctor`s offices, day spa, cafe, etc. This will lower overhead and allow us to draw members from our tenants.
I have 12 years in the fitness business and have operated 4 small clubs.
Area Facts.
The Baltimore region ranked first in income growth between 2000 and 2005 among
the nation’s top metropolitan areas, with a 24.1 percent increase.
The Baltimore area’s per capita income of $41,320 in 2005 came in eighth among top metro regions.
Employment growth of 5 percent between 2000 and 2006 places
Baltimore eighth in the nation, well ahead of the 2.9 percent U.S.
average.
Source: Economic Alliance of Greater Baltimore

robertj

While the concept of recruiting renters that will attract potential members is a good one - I think that combining the building purchase (and operation) with the development of an athletic club - may make it more challenging to acquire the capital since there may be different "investor profiles" for each opportunity.

k25150

Thanks for the reply. Somehow, this got stuck in the wrong forum. I made a new one for the seeking capital forum.
I see your points. However years ago, I tried to find funding for just the club and no one was interested. Once I included the RE incentive everyone wanted to join. But these people still required I need 10% worth in assets to be fundable. So my goal is to find someone who invests in commercial property and trusts that my team and I can turn a profit with the business.