Acquisitions | Criteria
Navona’s central operations are based in Mississauga, Ontario and are networked across Canada and the US, leading to effective sourcing and smooth transactions. An interdisciplinary approach is applied to acquisitions in which asset management, leasing, development and transaction professionals work together to create value with real estate. Navona’s efficient decision structure allows for offers to purchase properties to be issued quickly and closings to occur timely.
The geographic preference for acquisitions are major Canadian and U.S. economic centres that provide deep liquidity. Depending on the property particulars, smaller towns in Ontario are also considered. Navona has a strong preference for stabilized real estate net-leased to strong tenants, but will also purchase value-added opportunities located in the Greater Toronto Area.
| Asset Class | Target Investment Size | Geographic Region | Target Product | Minimum Occupancy | Lease Terms | Additional Notes |
|---|---|---|---|---|---|---|
| Industrial | Core Investments: $1-25 Million Value Added: $1-7 Million |
Major Canadian and U.S. commercial centres | Preference for single-tenant bulk distribution and office/ warehouse facilities. Exceptional multi-tenant properties may also be considered. | Core Investments: 95% Value Added: No Minimum, but preference for in-place income stream. | Preference for greater than 5 years | May invest in portfolios up to three assets with deal size less than $30 Million. |
| Retail | Core Investments: $1-25 Million Value Added: $1-7 Million |
Major Canadian and U.S. commercial centres | Mixed-use, neighbourhood strip malls, and single-tenant (will invest in big-box retail). | Core Investments: 80% Value Added: No Minimum, but preference for in-place income stream. |
Preference for greater than 5 years | |
| Multi-Residential | $1-10 Million | Greater Toronto Area | Preference for newly-built or recently fully renovated, well located in-fill garden and low-rise apartment complexes with competitive unit sizes and amenity packages. | Prefer greater than 90% | ||
| Land | $1-10 Million | Ontario and British Columbia | Farmland in future growth areas or Commercial in developed areas. |