Project Bulldog
- 32,000 square foot medical office investment in Lawrenceville GA
- $7.7mm total investment on approximately 80% leased project at closing
- 21.7% IRR on three (3) year hold – sold to national medical office investor
Investment Thesis
- Purchased an underperforming two building medical office complex from a failing developer
Value Creation
- Negotiated an escrowed amount at closing to cover future lease costs
- Seller covered our operating expenses on the vacancy for 24 months
- Leased the project to 97% occupancy