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10 Year newly signed net lease. |
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December 31, 2005 sales of $150 billion and net income of $16 billion. |
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GE is America's Most Admired Company and 7th largest company in the United States. |
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Property is well located in Charleston, Tennessee. |
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Tenant is one of the most profitable and recognizable companies in the world. |
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The purpose of this Confidential 1031 Exchange Opportunity is to provide a summary of a possible future private investment opportunity that may be made available to a certain limited number of accredited investors. This is not an offer to sell real estate and/or any type of security, partnership interest, public or otherwise.
The contemplated exchange, if made available formally, would provide investors with the opportunity to acquire a partial interest in a newly built 851,370 square foot warehouse/distribution facility located in Charleston, Tennessee. The building is 100% net leased to the General Electric (GE), the United States' 7th largest company in 2006. Bradley Associates is purchasing this facility and GE has signed a new 10 year a non-cancellable net lease (the "Lease").
The property is being acquired for $34,850,000. CIBC is providing first mortgage financing in the amount of $26,700,000. The 10-year mortgage is interest only at a rate of 5.81%.
Throughout its more than 115-year history, the Fortune 100 Company, GE, has become a multi-national technology and services conglomerate. GE develops, manufactures, and markets various products for the generation, transmission, distribution, control, and utilization of electricity worldwide.  Its products primarily include various appliances, lighting and industrial automation products, medical diagnostic imaging systems, bioscience assays and separation technology products, electrical distribution and control equipment, locomotives, power generation and delivery products, nuclear power support services and fuel assemblies, commercial and military aircraft jet engines, and security equipment and systems, as well as engineered materials, such as plastics and silicones.
The company also offers turbomachinery products and services for the production, transportation, storage, refining, and distribution of oil and natural gas; and provides specialty chemicals, pumps, valves, filters and fluid handling  equipment for improving the performance of water, wastewater, and process systems. In addition, GE sells and services various home appliances. Additionally, the company produces and delivers network television services, operates television stations, produces and distributes motion pictures, and operates cable/satellite networks, theme parks, and program activities in multimedia and the Internet. Currently GE employs over 300,000 people.
GE has been rated by Fortune magazine in both 2005 and 2006 as America's Most Admired Company, as well as the 7th largest company in the United States and the 11th largest company in the world. GE is also one of only 8 AAA rated companies in the United States.
GE generated approximately $150 billion in revenues for fiscal year 2005, which ended December 31, 2005 and had a net income of over $16 billion. Additionally, as of December 31, 2005, GE had total assets of $673 billion and shareholder's equity of $109 billion. General Electric is publicly traded on the NYSE under the ticker symbol GE. More information regarding GE may be found by visiting www.GE.com.
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