Through the creative structured lease that Equistone Partners negotiated, the client was able to minimize the carry costs associated with its projected growth and at the same time maximize flexibility to expand in the future as needed.
Equistone Partners identified a great piece of real estate that was challenged by ineffective marketing and acquired the property at a price well below replacement cost.
Equistone Partners analyzed the rent roll and turn over, found and mitigated leasing rollover risk, brought the property to market and set the high-water mark for Class B office in downtown Oakland at the time.
Equistone Partners bought the property at auction, completed multiple leases and stabilized the asset. A buyer was identified that purchased the asset at a price yielding four times the cost basis in the property, a home run for the ownership.
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