Colony Square II Center
1132 Dillon Rd, Louisville, CO 80027
Description
Purchased this nine year old center for 50% of the previous mortgage. Closed within twenty days, all cash. Within ten days of closing, increased occupancy from 43% to 75%. Received a $1,500,000 bank loan 60 days post closing. After achieving 90% occupancy in 2012, the partnership decided to sell the asset and buy other value added assets.
Details
|
Cost PSF $83.23 |
Sale Price $3,400,000 |
Total Cost $2,375,000 |
|
Acquisition Date Jan, 2009 |
Add. Capital Costs $100,000 |
Sale Date Feb, 2013 |
|
Total Project Size 28,534 |
Sale Price / SF $119.16 |
Avg Annual Return 26% |
|
Acquisition Price $2,275,000 |