An Eight Building, 1,913,035 SF Portfolio in Columbus & Cincinnati, OH
Acquired: December 2009
Seller: Midland Loan Services
Acquisition Price: $34,250,000
Occupancy at Acquisition: 45%
Last asset sold: December 2017
Net LP IRR: 21.2%
Net LP equity multiple: 2.54
The Portfolio was acquired out of receivership. Trident restructured the existing loan to reflect an approximate 40% reduction in outstanding loan balance.
Significant capital improvements, repositioning of the assets, and Trident’s local leasing contacts took the buildings to nearly 90% occupancy during hold period.
Trident took advantage of individual user sales, and single and multi- asset investor sales to realize over $52 million in total exit proceeds.