Coastline Penn LLC is being formed by Peter Mallios and Constantine Valanos to invest in a retail property in Washington DC. The company has 319 Pennsylvania Avenue SE in the Capitol Hill section of Washington under agreement for purchase. The Company will purchase the property with new financing and utilize investor cash for the down payment and closing costs. We are currently seeking accredited investors interested in an equity position in this secure commercial real estate partnership. The company is seeking to raise $900,000 comprised of eighteen (18) shares priced at $50,000 each. Each share will receive a preferred 8% return of capital invested starting in year two plus their share of cash flow. Based upon the current lease, investors shall receive a 10 year average return of 9.12% and a 10 year IRR of 16.8%.
The investors benefit by the experience and integrity of the management team. Peter and Constantine bring two careers of real estate expertise to the partnership and Danio Somoza, owner of the Tenant, is also a member, bringing his history of successful restaurant ownership and operation to the team. The result is a secure investment offering a very favorable return in the Washington DC market, one of the top real estate markets in the country.
The property is currently 100% occupied by Coastline Oyster Co, a new concept from Coastline Restaurant Group, owner of 5 successful operations in Washington, Bethany and Lewes. Coastline Oyster Co (coastlineoysterco.com) opened March 1, 2023. The restaurant is a seafood and oyster house, a cuisine that is not represented in the western side of the Capitol Hill market. In addition, the promote members will be a part of the investor group, committing to purchase a minimum of one share.
The management of the property shall be handled by Peter Mallios and Constantine Valanos. With several properties under representation in the local real estate market, many efficiencies will be available to benefit the property, such as the ability to offer nearby, responsive property management services.
The ultimate goal of Coastline Penn is to build a long term business relationship with our investors. Peter Mallios and Constantine Valanos are available to answer any questions and meet with your team to discuss any current or future tasks. Pete can be reached at 202-374-0123 or firstname.lastname@example.org and Constantine is at 202-352-0855 or email@example.com.
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