1617 West Berry St. | Dallas, TX
We purchased this 4,873 Square Foot center located near TCU in February 2017, it had been inherited by two siblings and was very under-managed. Within eight months, we were able to lease a vacancy and renew all existing tenants, with rents going from single-digit to upper teens. The property is operating at a return well above Pro-forma.
We purchased this 4,873 Square Foot center located near TCU in February 2017, it had been inherited by two siblings and was very under-managed. Within eight months, we were able to lease a vacancy and renew all existing tenants, with rents going from single-digit to upper teens.
The Result: We successfully filled all vacancies and elevated rents in eight months, leading to a profitable sale in Spring 2021 with a 3.31 equity multiple in a 27-month period, demonstrating our effective turnaround strategy.