Negotiated a full roof and water tower replacement paid for by tenant to occur within four years. Building is leased to a single tenant for 9 years and serves as their corporate headquarters.
The property was acquired at a 38% discount to replacement cost and a good tenant relationship established immediately. 73% LTV 7 year loan attained with a 5 year fixed term at 4.2%.
18% leveraged Return on Investment, 9.2% Cash on Cash on a 5-year average to investors. 9.0% Cash on Cash return to investors on Day 1.
Purchased for $2,800,000 in 2015.