Flacks Group’s Global acquisition team focuses on older industrial and commercial properties and special situations. Flacks Group buys properties where timing is critical, and owners and lenders need the certainty of closing. Flacks Group buys with no representations or warranties nor finance contingencies, and transactions are executed swiftly and seamlessly. All transactions are strictly confidential.
Flacks Group acquires properties that are often either financially distressed because the cost to modernize the property is too high, compared to the rent a new tenant can pay or physically distressed, with Legacy Liabilities and dangers due to past uses. These include chemical spills and leaks, abandoned hazardous waste, asbestos and other structural decay, and other environmental contaminants.
As the corporate world grows through natural growth or mergers and acquisitions, companies routinely close divisions that are not making money if there is no sign of recovery. These newly vacant buildings may be difficult to rent or sell because occupants want smart technology buildings, or if there are environmental hazards and Legacy Liabilities, they are not interested.
Flacks Group has 40 years of experience acquiring ‘special situations’, distressed properties, and ‘dark assets’ that have been offered for sale by the owner and broker for multiple years with no offers.