Project I: The property is 804-unit class B-/C multifamily property located in the Historic Oak Cliff submarket in southwest Dallas. The property has a superior location in the fast growing DFW metroplex with excellent access to Interstate 35-E, a major thoroughfare accommodating 250,000 vehicles per day. Spread across ~44 acres of land, the property was built in 1966-1972. The investor economics have include an average 10% cash yield (8.4%, 10.3%, 10.9%, 9.8%, and 10.7%) and a target 22% IRR, representing an equity multiple of 2.4X.
Project II: The project is a newly constructed 177,815 square foot office building located in Campbell, California, just outside of San Jose in Silicon Valley. The sponsor is attracted to the tech-focused environment that has been established there. The property is a single-tenant property, 100% leased to a leading cloud-based communications provider and the property serves as their global headquarters. The investor economics have include an average 10% return (8.10%, 9.20%, 9.63%, 10.08%, 10.53%, 11.01% and 11.49%) and target IRR 11.9%.
Project III: The property was acquired four year ago, an iconic office complex in Southfield, MI, which is considered southern Michigan’s premier business district. The property is a 2,200,000 square foot Class A office complex with a roster of corporate tenants of the highest caliber, including Microsoft, Fifth Third Bank, Aon Insurance, Bloomberg, Accenture, Goldman Sachs, Yahoo, Cisco and others. The sponsor targets selling the sell the property in 2-3 years, will distribute 7% on a monthly basis and targets an IRR in the high teens.