The Pointe at Redwood Shores

Redwood City, CA

Address:   1201 & 1235 Radio Road

Year Built:   2001

Building SF:   89,147 SF

Purchase Price:   $21 million

Closing Date:   March 2018

Projected Hold Period:   2 years

Highlights

Off-market acquisition of a 2-building life science/office project at approximately 60% of replacement cost.
  • Major capital improvement projects in progress including plumbing upgrades, new roofs and common area remodeling.
  • The thesis was to reposition the asset into a majority life science occupied building.

Overview - Projected Project Level Returns

28.8%

Projected IRR

1.5X

Equity Multiple

2 years

Hold Period