White Oak Retail Center

White Oak Retail Center 2018-03-27T15:05:08+00:00

Project Description

Background

  • Neighborhood retail/multifamily project located at a hard corner in the heart of restaurant row in Houston Heights.
  • Acquired off-market 14 months from initial contact with seller.
  • In place rents at acquisition were 50% of average market rents

Results

  • Rents in the residential units have been increased by 35% on average.
  • Delinquent commercial tenants that were part of prior owners failure with the project have been brought into compliance or removed in favor of higher rental rates and tenants with better credit.

Acquisition Date

April, 2017

Acquisition/Development Cost

$2,300,000

Projected IRR

62% *

Projected Equity Multiple

3.9x *

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

Project Details

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