Bamboo Equity Partners™ purchased the industrial property in Hazelwood out of bankruptcy in 2015. The property is located in a growing logistics area, and with a few strategic upgrades, our goal was to attract new tenants to the space. With the submarket vacancy tightening, as well as rental rates increasing, the property provided a lower-cost option in the area and was quickly leased to two locally owned companies. We took the property to market with a 100% occupancy rate and sold to a publicly traded REIT from the east coast in 2019. We achieved over 83% growth in the price from acquisition to disposition, while returning an 18% internal return rate to investors in just four years.
Occupancy at Acquisition: 0%; Occupancy at Disposition: 100%
Combined Acquisition Price: $2,950,000.00; Combined Disposition Price: $5,400,000.00