Confidentiality Agreement For Signature By Prospective Purchaser
Independence Commercial Advisors
17806 IH-10 W, Suite 300
San Antonio, TX 78257
Re: Proposed Sale of Robinson Manor Apartments, to include the property and improvements located at 2205 Pat Booker Road, San Antonio, Texas 78148 (hereinafter referred to as the “Property”) by the owner thereof (hereinafter referred to as “Owner”) to the prospective purchaser (hereinafter referred to as “Principal”).
To Whom It May Concern:
This letter will serve to confirm our agreement concerning certain information which may include various papers, documents, data, plans and other materials, portions of which may be included in a package or brochure (hereinafter referred to collectively as the “Evaluation Material”) which Independence Commercial Advisors (“Broker”) will make available to us for study in connection with a possible purchase by us of the Property.
Broker is prepared to furnish us with the Evaluation Material in connection with discussions and negotiations concerning a possible transaction involving the Property only on the conditions that we treat such Evaluation Material confidentially and confirm certain representations to Broker. Therefore, as a prerequisite to Broker furnishing to us the Evaluation Material, we hereby represent and agree as follows:
Independence Commercial Advisors is pleased to present Robinson Manor Apartments, a 44-unit Class C residential community located in Universal City, Texas in northeast San Antonio. Built in 1968, Robinson Manor enjoys a great location in the Far Northeast submarket, one of the highest areas for rent and occupancy growth in the entire MSA. Ownership is offering the property free and clear of existing debt providing a buyer the opportunity to place new debt and the potential to achieve an IRR based on a 5-year hold of over 27%, and an annual cash-on-cash return of over 14%.ACCESS DOCUMENT CENTER