Mid America Portfolio
A Four Building, 632,144 SF Portfolio in Atlanta, GA, Columbus, OH, & Louisville, KY
Seller: Multiple, individual investor and private fund
Acquisition Price: $18,340,000
Occupancy at Acquisition: 89%
Total sales proceeds to date: $23,320,000
The Portfolio was acquired from multiple sellers and assets pooled to take advantage of improved financing of diversified portfolio.
Trident’s local leasing contacts filled the existing vacancy in under 90 days, bringing the portfolio occupancy to 100%. At acquisition, the Louisville asset was a “known vacate” at lease expiration in July 2018. The asset was filled with a new 7 yr deal in under 6 months.
Trident has sold three of the assets and continues to hold the Louisville asset debt free. Trident has returned all investor equity plus a substantial profit. Additionally, Trident plans to exit the Louisville asset in 2019.