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Town
East Tower
Mesquite, TX
This 90,000 sq. ft. office building was acquired for $3,150,000 in 1995
and was appraised for over $7,500,000 four years later at the time of
refinancing. Currently 90% leased; the surrounding submarket is only
78% leased.
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Forest
Green Ofc. Complex
Dallas, Tx
This
205,000 sq. ft. office and showroom complex was acquired in 1993. The
property was approximately 50% occupied. Within six months, the property
was nearly 75% leased and our equity was nearly tripled shortly thereafter.
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Park
Plaza Shopping Ctr
Arlington, TX
We
acquired this 240,000 sq. ft. shopping center through the acquisition
of its underlying first lien. Our initial cost was $12 per sq. ft.;
we were able to increase the appraised value in two years to $40 per
sq. ft.
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Westpark
Medical Ctr.
Plano, TX
Purchased
entirely vacant in 1994, this 98,000 sq. ft. building was heavily vandalized
with all major mechanical systems inoperable. Sold after 18 months,
the profit exceeded investment by five times.
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Plano
Tech Bus. Park
Plano, TX
This
95,000 sq. ft. office/warehouse property was purchased and resold after
18 months. The property was repositioned as a technology office park
and entirely re-leased to tech tenants. Equity doubled during our brief
ownership.
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Friday’s
Court
Dallas, TX
This
45,000 sq. ft. inner-city two-story retail property was purchased for
$1,750,000 with less than 30% occupancy. In under two years, we resold
the property for $3,500,000, tripling our equity investment.
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Park
Hill Office Bldg.
Carrollton, TX
This
85,000 sq. ft. office building was purchased for $2,750,000. At 50%
occupancy, most of the second floor was vacant. As a result of precise
marketing, occupancy exceeded 85% within one year, and the equity value
doubled in less than 15 months.
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Multi-Family
Properties
Oaklawn/Turtle Creek
Various
apartment properties were acquired in the mid 1980s from undercapitalized
developers and/or failing savings and loans. Upon completion, all achieved
high rental rates and were resold within three years.
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Ferris
Plaza
Waxahachie, TX
Office
retail project was purchased for $790,000. With less than 40% occupancy
in this 49,000 sq. ft. property, we maximized value by leasing to office
and medical users. On completion, we tripled our equity investment.
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Bellmeade
Apartments
Bellmeade, TX
This
"C" class apartment complex was purchased with 100% seller
financing, the down payment and renovation funds were financed through
cashflow. The property was acquired in 1995 and sold in 1998 for twice
the original purchase price.
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