KIRKWOOD I & II
EQUITY MULTIPLE 0.67x
LEVERAGED IRR -8.72%
The two-building office park in the Houston Energy Corridor was acquired offmarket in June of 2014. With existing lease terms drawing rent 22% below market value, the office park represented a value-add opportunity for rental rate escalation and renovation.
DIG completed a $SOOK renovation program that included upgrades to the interior common areas, building exteriors, rooftop mechanical equipment and added additional covered parking. The project was sold to a 1031 exchange buyer in October of 2018.