The Pointe at Redwood Shores

Redwood City, CA

Address:   1201 & 1235 Radio Road

Year Built:   2001

Building SF:   89,147 SF

Acquisition Date:   March 2018

Projected Hold Period:   3 years

Highlights

Off-market acquisition of a 2-building life science/office project at approximately 60% of replacement cost.
  • Major capital improvement projects completed including plumbing upgrades, new roofs and common area remodeling.
  • Sold to an institutional operator who will continue the life science conversion process.

Overview – Realized Project Level Returns

19.26%

Projected IRR

1.69X

Equity Multiple

3 years

Hold Period