Meridian towne Centre

Meridian towne Centre | East Lansing, MI | Retail | Retail

Meridian Towne Centre is an 86,891 square foot shopping center (shadow anchored by Kroger and Target) located in Okemos, Michigan. Fund II obtained fee-simple title from the prior owner for a price of $7,100,000. In one year, Viking leased 20,000 square feet and increased the occupancy to 93.75%. Fund II was able to sell the asset for $11,000,000, 54.93% higher than the purchase price.

Acquisition: REO
Duration of ownershop:  15 months
Equity Multiple:  1.77*
Gross Return:

76.93% IRR*

Past performance is not indicative of future results and there can be no assurance that Viking Partners Fund III will achieve comparable results.
*All amounts are reported on a Gross Basis, before fees to Viking Partners.