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:   2.5 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

28.48%

Projected IRR

1.82 X

Equity Multiple

2.5 years

Hold Period