Just Closed: Precision Metal Works Porfolio

La Jolla based Legacy West Partners has finalized the acquisition of the Kentucky industrial portfolio, tenanted by Precision Metal Works (“PMW”). The PMW portfolio consisted of two industrial buildings totaling 226,997 square feet, located in Frankfort and Louisville, Kentucky.

The purchase price was $14.5MM, which was below market prices and below replacement costs at $63.88 per SF. This included a new 20-year lease term with annual 2% increases. The initial 8.15% Capitalization Rate will earn investors an average of 10% annual returns on the absolute-net lease.

Our team is excited for LIVE Ventures, NASDAQ (“LIVE”), management to commence their business plan of increasing sales and returns. We plan on working with PMW's real estate department in their obligation of investing $1MM in renovations to the facilities.

We were pleasantly surprised to be 30% over subscribed within 24 hours of our launch and are thankful to everyone that participated in our inaugural offering. For those that were unable to invest in Kentucky, we are happy to share that we are currently analyzing future LIVE acquisitions, accompanied with real property, and expect similar high yield deals to emerge in the coming months. Additionally, we are discussing with attorneys about establishing 1031 Exchange vehicles, such as Delaware Statutory Trusts ("DST"), to facilitate investors in active 1031 Exchanges.

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