EQUITY MULTIPLE 1.19x
LEVERAGED IRR 7.91%
Cypress Crossroads was a lender owned (REO) Class A 106,34lsq ft office building in the heart of Orange County, which represented the 2nd largest existing west coast office market. The occupancy at acquisition was 74% with consistent absorption and no new construction in the region since the delivery high points prior to the Great Financial Crisis.
DIG completed a value-add capital improvement plan including full upgrades to the lobby and common areas featuring quality finished stone & wood accents, new cooling towers, modernized elevators, and an energy management system. The property was sold in June of 2017 with an occupancy rate of 89%.