Midwest 8

Central U.S.     |     100,000+ SF    |     Investment

A large public REIT marketed for sale a portfolio of eight small outlot developments in four states representing approximately 105,000 SF plus three vacant parcels.  The REIT created value through redevelopment and preferred selling in bulk versus the time and energy to sell individually.

The property was acquired assuming the sum of the parts is greater than the whole and entrepreneurial ownership could add value.  During ownership, lease extensions for half of the portfolio were executed, adding value and over 75% of the portfolio was sold. The portfolio is on track to realize gains in excess of 24% of the purchase price, in addition to providing significant cash flow to ownership.