Featured Portfolio Assets
Everman Trade Center
What We Do
R. Holt Lunsford
Mark De La Torre
Featured Case Studies
Lake Vista Pointe
Crosby Business Center
DATE ACQUIRED/ DEVELOPED
Frontier Equity acquired a Class-A, value-add office building in June 2012 located in Houston’s energy corridor.
The 15-story office tower was 70% leased with major deferred maintenance and curtain wall issues.
The overall investment strategy was to increase occupancy of the property while pushing rental rate growth.
An aggressive capital campaign was put in place to modernize the lobbies, upgrade corridors and restrooms, as well as installing new lobby furniture and artwork.
Deferred maintenance items were prioritized and methodically staggered to reduce impact on base year operating expenses.
Within 12 months of ownership, occupancy increased from 70% to 87% and quoted rental rates jumped 20% from $22.50 to $27.00 per square foot.
In-place NOI increased 113% from $1.5 million to $3.2 million by July 2013.
The asset was sold in December 2014 for a profit of $13.2 million.
Investment capital achieved a 2.0x multiple over a 31-month hold period.
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