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