Generaton Plaza | Durham, NC | Office | Fund I
Generation Plaza is a 37,475 square foot, three story office building located in Durham, North Carolina. Fund I acquired the note for $2,200,000 and then title to the property by negotiating deed-in-lieu of foreclosure with the prior owner, who remained as a tenant. We were able to secure a 13,185 square foot tenant to occupy an entire floor and raise the occupancy from 60% to 91%. The asset was sold for $3,600,000.
|Duration of ownershop:||23 months|
|Gross Return:||25.11% 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.