MINNEAPOLIS URBAN LOGISTICS PORTFOLIO
Value Add, Joint Venture, Recapitalization
Currently own property
Value add programmatic Joint Venture to build a Class B low finish office/warehouse portfolio. From 2014 – 2018 in five different (2 on market and 3 off market) acquisitions and 11 buildings totaling 838,193 square feet. Value was created with lease up, interior/exterior improvements, rent appreciation and repositioning.
This JV yielded a project level IRR of 38% and a multiple of over 2.00x in 40 months of ownership.
Business plan execution like Minneapolis Urban Logistics portfolio exemplifies our ability to create value via our broker relationships and deliver substantial results for investors.
INDUSTRIAL LOW FINISH
Local Cash Flow Syndication
Currently own property
Local syndication acquisition of small bay low finish office / warehouse buildings totaling 122,331 SF. In 2014 these buildings, with 18 tenants, were put under contract at 94% occupancy. A tenant was secured during due diligence to close at 100% full. Northcrest has remained 100% occupied since 2014.
The long term cash flow ownership structure has benefitted from uninterrupted monthly distributions, 17% increase in NOI and unrealized market value of more than 30% appreciation
This is an example of our ability to find great real estate, attract stable tenants, retain those tenants and grow undervalued rents.
MINNEAPOLIS FLEX
Value Add, Joint Venture
Currently own property.
Value add Joint Venture to reposition a 5-building flex portfolio with a tech focus.
We acquired this portfolio in 2017. This portfolio was 60% occupied at close and we are currently working to reposition in the market and attract tech-focused tenants with new amenities and offerings.