Bamboo Equity Partners™ purchased the mixed-use space in 2015 from a private individual who wanted to divest all their real estate ownership. At that time, DaVita Dialysis, the tenant occupying 58% of the building, had only two years left on a lease. The second suite, making up the other 42% of the building, was unoccupied. After acquiring the space, we conducted a thorough demographics analysis to discover that this is a crucial territory for DaVita and renewed their lease for an additional ten years. We also found a health and wellness beverage manufacturing company to execute a lease on the remainder of the property. After achieving 100% occupancy, we sold the asset to a 1031 exchange buyer in 2020, achieving a 45.4% internal rate of return to investors and creating a 74.1% change in value.
Occupancy at Acquisition: 58%; Occupancy at Disposition: 100%
Acquisition Price: $1,350,000.00; Disposition Price: $2,350,000.00