Sandy Point Going Condo!

[Rinkerguy]

Originally Posted by ghfromaltonbay

Vacanza has scheduled a meeting with the present leasees at Sandy Point as part of their due diligence. They want to know if the present tenants are interested in continuing to lease. Will be interesting to see how the present lease amounts will increase. If they buy for $12M, how much would they need to raise rents to make it profitable?

Let’s understand the prospective buyers are in the real estate business. They own properties all around NH and MA and could have most or all of the funds to cover the purchase. No way they’re going to pay asking price. Then it’s how much or little improvements they will make? But given this is a dated, run down property with more issues than just septic that need updating. Irregardless costs to either seasonal and/or renters are sure to increase significantly once the sale closes. The Sandy Point legacy is quickly coming to an end.