Rubicon Business Center at Bailes Ridge in Fort Mill, SC
Phase 2 is now complete and almost fully leased. The full development includes:
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3 miles to Charlotte, NC city limits
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10 acres of land
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40 suites
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101,806 total Sq. Ft.
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Suites range from 2,200 to 4,400 or more
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Shared truck court
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LED lighting
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Cable and fiber optics available
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Skylights in warehouse area
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Large capacity HVAC units provide for future expansion of office areas.
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Ionized HVAC units reduce airborne viruses (including COVID), bacteria, pollen, and purifying the area.
For leasing information, contact George Linville of Linville Real Estate Services.
(704) 904-1683 glinville@iresllc.com https://rubiconinbailesridge.com
Unique Investment Opportunity in Charleston, SC
Invest with Backman Brothers in this well-established, 3-building property at 162 Spring Street, just south of the crosstown in this exciting entertainment district of Charleston, SC.
This property contains 3 unique buildings, all well-furnished and with 7 off-street parking spaces.
The front building is historic and built sometime in the mid-to-later 1800's. This building has 2 two-bedroom two-bathroom apartments and each of these were renovated within the past few years and are in good shape. The commercial space of this building has been leased to the well-established Bon Bahn Mi, a successful Vietnamese sandwich eatery.
There are two other houses located on the property that were built in 2018 and are always on short-term leases. Each house has four bedrooms and three bathrooms. They are luxuriously appointed with both having a gourmet kitchen, dining area, living room, plenty of closet space, and good size bathrooms.
Backman Brothers has a top, short-term rental management company in Charleston to oversee the property, and also uses AirBnB with a strong track record to ensure bookings and great ongoing revenues. The high quality of this property, with the well-appointed living quarters and its strong location, should assure a strong return over time.
Charleston has many festivals and events going on throughout the year attracting many visitors who love short-term rentals.
Call Backman Brothers
for more information.
NEWS
OUR HISTORY
Samuel P. Backman started as a painter and contractor during the great depression, working on fixing up foreclosed properties for banks. Over time he developed small office townhouses, a high rise apartment building, and many other projects. His wife Rosa Backman was one of the early female pioneers when she attended law school and became an attorney in Massachusetts. Together they operated the predecessor to Backman Brothers - the Samuel P. Backman company based in Lynn Massachusetts. They worked hard and grew the business. When Samuel died in 1966, Rosa managed the business herself.
They developed and renovated real estate – commercial, strip shopping centers, and residential. They were apartment landlords. They also had an auctioneering company, an insurance brokerage company, a property management company and a law practice. They owned properties primarily in Lynn, Salem, and Beverly Mass.
Sam was a realtor. He was active in many charitable and business organizations such as the Lynn Chamber of Commerce, the Lynn YMCA, and the local Temple. Rosa spent a significant portion of her limited spare time helping other women start businesses or in their careers.
Garett’s introduction into real estate was when he was a young boy in the early 1960s between the ages of 7 to 14. He would stay with his grandparents on the weekend. On a number of Saturdays during the year he would go to the office in downtown Lynn with his grandparents, where he sat at a desk and collected rents from many of the tenants. These tenants would come in on Saturday morning to pay the rent in cash or by check, and Garett was responsible for counting the rent, putting the rent paid on each tenant’s rent card, issuing a receipt to the tenant.
Afterward, Garett would go with his grandparents to check on the different apartment buildings and other properties that they owned, and then as a treat, his grandparents would take him to the bakery for fresh rye bread, brownies, and Apple Strudel.
In 1975 Garett graduated from Dartmouth College and in 1977 Boston University law school. After law school, he moved to Atlanta Georgia where he practiced law. In addition, he started investing in apartment buildings and complexes that he renovated. He also purchased abandoned homes and three apartment projects, renovated them, and resold them in what later became known as Virginia Highlands, Midtown, and Morningside.
BACKMAN BROTHERS
When Rosa Backman died in 1982, Garett moved back to Lynn Massachusetts to join his father Bradlee, and his brother Bruce to operate the real estate business that his grandparents started.
Charlie Backman attended the University of Massachusetts, but his primary interests were in software and computers. He was a pioneer in the understanding and use of electronic spreadsheets. One of his early jobs involved using VisiCalc and later Lotus to help New England Life produce spreadsheets to track their calculations. He then worked for Baine and Company in Boston, and went on to purchase, rent, renovate and sell several condominium units on Beacon St in Boston.
In 1988 the properties in Massachusetts were sold and Garett and his brother Charlie teamed up and moved the real estate operation to the metropolitan Atlanta Georgia area. Initially they invested primarily in larger single tenant warehouses in the metro Atlanta area. Over time this business was expanded. In 1994 Garett and Charlie purchased land in Alpharetta Georgia and developed their first 50,000 square foot small bay multi-tenant office warehouse and then in 1996 their first office building. They also invested in other office buildings, office warehouses, and a strip shopping center in Georgia, North and South Carolina and Tennessee.
PROPERTIES
Established in 1928, Backman Brothers has purchased, invested in, managed, and developed over 60 real estate projects containing over 3.4 million square feet in 6 states and the U.S. Virgin Islands.
Project Locations
Georgia – 35 properties
Massachusettes – 15 properties
South Carolina – 4 properties
North Carolina – 3 properties
U.S. Virgin Islands – 1 property
Tennessee – 1 property
Florida – 6 properties
Project Types
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Apartment building renovation & rental
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Apartment Building purchase, renovation & rental
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Single tenant Warehouse purchase & rental
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Multi-tenant Warehouse Purchase, renovation & rental
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Land Purchase, Multi-tenant Office/warehouse construction, rental
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Multi-tenant Office Building Purchase, Renovation & Rental
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Land Purchase, Multi-tenant Office Building construction, rental
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Condo Purchase & Rental
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Condo unit purchase, renovation & rental above Four Seasons Hotel
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Land Purchase, Townhome Development & Resale
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Retail Strip Shopping Center Purchase, Redevelopment & Rental
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Condominium Conversion
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Single-Family Home Purchase & Renovation
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Single Family Home Lot Purchase, new home construction & sale
Garett and Charlie have welcomed outside investors to invest with them in their projects over the years. They have provided strong returns to these investors. In general, these investment projects are structured to provide a cumulative fixed percentage preferred return to the investors based on their equity, and then a profit split between the Backmans and the investors. In most instances, the Backmans also put in equity and stand in the same shoes as the outside investors concerning their equity. Garett often has to personally guarantee the debt placed on the project. The deals are structured in a way that the investors are paid their preferred return before the Backmans share with them any split of additional profits. The Backmans are paid a small initial amount for putting the deal together, but the real profit for the Backmans comes if the project is successful, the investors are paid their preferred return, and then the Backmans are paid a part of the remaining profits. In essence, the deals are “back-ended” to make sure that before the Backmans profit, the investors are repaid their equity and their preferred return.
In the two most recent projects:
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A 168,000 sf warehouse single tenant building in Charlotte that was subdivided into three bays produced a 33% return to the investors in a period of a little over one year;
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A 50,000 sf small bay multi-tenant office warehouse located 6 miles south of Charlotte, North Carolina (near Ft. Mill, South Carolina) produced a 64% return to the investors over 5.4 years.
The past is not a guarantee of future returns. We all understand this; but typically our goal is to provide for any project we are developing from the ground up a return to the investors of: 1) a minimum 15% return per annum, after sale of or refinancing of the project, and 2) an annual cash on cash payment, starting with 6% per year and increasing each year over time to 10% or 11% per year, while we are building, leasing up and operating the project.
INVESTORS
CONTACT US
Lighting Your Way to a Profitable Return
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