Master Lease opportunity / 120 units - boutique apartment complex
I hope its okay to post this here as it might not fit RE development but I am new to learning commercial RE & development. There is a boutique apartment complex (2 addresses / side by side) being offered for $85K. I have been trying to understand what exactly this is, and my understanding that its the opportunity to for someone to take over the management of the leasees, but not actually owning the property. Maybe something to arbitrage like airbnb's I am guessing. That way the master lease operator has the opportunity to run the place for a specified time, before deciding he/she wants to acquire and purchase the property. Is that correct? If anyone has any experience in this space, can you please elaborate on it, and what would be the pros and cons and what you should look for if trying to pursue something like this - to eventually putting in an offer to purchase it. Im new to this so any info is great info - Thanks