2723 Yale

2723 Yale 2018-03-27T15:05:40+00:00

Project Description

Background

  • New 8,500 SF retail center shadow anchored by a new Whole Foods planned for the northeast corner of Yale and 610 in Houston.
  • Provides much needed retail space to a number of rapidly gentrifying neighborhoods in one of Houston’s hottest retail submarkets.

Results

  • 70% pre-leased prior to ground-breaking, 100% leased 30 days prior to substantial completion of core & shell.
  • Successfully included exterior patio space under drip line as rentable square footage to enhance stabilized NOI
  • Project will be refinanced at stabilization and held for yield (in place rents will see average 3% growth in first 5 years).

Acquisition Date

October, 2015

Acquisition/Development Cost

$3,000,000

Projected IRR

70% *

Projected Equity Multiple

1.93x *

*IRR & Equity Multiple shown are project level, before split between investors and sponsor.

Project Details

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