Portfolio - Targeted Real Estate Equities LLC https://www.targetedre.com Thu, 21 Mar 2024 15:10:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 5950 Sherry Lane, Dallas TX https://www.targetedre.com/portfolio_type/sherry-lane/?utm_source=rss&utm_medium=rss&utm_campaign=sherry-lane https://www.targetedre.com/portfolio_type/sherry-lane/#respond Wed, 16 Mar 2016 18:38:06 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=133 5950 Sherry Lane Principals of Valorem led the speculative development of this class A office building in the Preston Center submarket of Dallas, Texas. Initially targeted to attract larger corporate tenants in and around the Dallas Metroplex, the principals quickly realized the benefits of a change in strategy. The property is located in a land-locked […]

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5950 Sherry Lane

Principals of Valorem led the speculative development of this class A office building in the Preston Center submarket of Dallas, Texas. Initially targeted to attract larger corporate tenants in and around the Dallas Metroplex, the principals quickly realized the benefits of a change in strategy. The property is located in a land-locked submarket and adjacent to affluent Highland Park. We adjusted strategies and targeted smaller tenants looking for office space in close proximity to their homes, the nearby Dallas Country Club and within close proximity to downtown and the highways that lead to the northern suburbs. The change in strategy lead to a quicker lease up pace and signed rents that were above initial underwriting. The property was sold at stabilization.

Acquisition Summary

All in Cost $32,325,000
Market Preston Center(Dallas,TX)
Square Feet 196,997
Projected IRR 20.5%
Realized IRR 22.3%
Holding period 4.3 Years

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]]> https://www.targetedre.com/portfolio_type/sherry-lane/feed/ 0 119 Post Road, Westport CT https://www.targetedre.com/portfolio_type/post-road/?utm_source=rss&utm_medium=rss&utm_campaign=post-road https://www.targetedre.com/portfolio_type/post-road/#respond Wed, 16 Mar 2016 18:36:39 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=131 191 Post Road Targeted Real Estate Equities LLC (“Targeted”), one of the principals of Valorem, purchased this 31,500 square foot office building in Westport, CT for a purchase price of $8,150,000 in October of 2021. Targeted was successful in converting the building to a medical use by implementing a parking management plan to creatively allow […]

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191 Post Road

Targeted Real Estate Equities LLC (“Targeted”), one of the principals of Valorem, purchased this 31,500 square foot office building in Westport, CT for a purchase price of $8,150,000 in October of 2021. Targeted was successful in converting the building to a medical use by implementing a parking management plan to creatively allow the building to conform with local parking regulations. This allowed Targeted to attract Connecticut Children’s Medical Center to lease the entire building on a 13.5-year NNN lease. Targeted sold the building for $20,500,000 in August of 2023. The sale, at $650/psf, represents a record for office building sales in Westport, CT.

Transaction Summary

All in Cost $12,717,171
Equity Invested $4,530,000
Market Fairfield County, CT
Square Feet 31,500
Projected IRR 26.25%
Realized IRR 52.50%
Equity Returned $10,079,133
Equity Multiple 2.25X
Holding period 1.8 Years

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]]> https://www.targetedre.com/portfolio_type/post-road/feed/ 0 Gulf Coast Portfolio, TX & LA https://www.targetedre.com/portfolio_type/gulf-coast/?utm_source=rss&utm_medium=rss&utm_campaign=gulf-coast https://www.targetedre.com/portfolio_type/gulf-coast/#respond Wed, 16 Mar 2016 18:35:37 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=129 Gulf Coast Portfolio The Principals of Valorem acquired a portfolio of nine, Class A multi-family properties with 1,548 units in selected Gulf Coast locations in TX and LA, including Houston, Port Arthur, Beaumont, Brownsville and Baton Rouge. By acquiring class A assets in secondary markets, we were able to purchase the assets at a steep […]

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Gulf Coast Portfolio

The Principals of Valorem acquired a portfolio of nine, Class A multi-family properties with 1,548 units in selected Gulf Coast locations in TX and LA, including Houston, Port Arthur, Beaumont, Brownsville and Baton Rouge. By acquiring class A assets in secondary markets, we were able to purchase the assets at a steep discount to similar product in more well
know areas. A deep analysis of the underlying markets proved that the economic drivers of these markets (NAFTA and the petrochemical business) were very strong and would attract attention to these markets as they matured. We were able to sell the assets at capitalization rates that were significantly lower than our going-in rate due to the maturation of these markets and the wider investor interest upon exit.

Acquisition Summary

All in Cost $112,066,109
Market Various in TX and LA
Units 1,548
Projected IRR 23.9%
Realized IRR 24.8%
Holding period 4 years

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]]> https://www.targetedre.com/portfolio_type/gulf-coast/feed/ 0 258 Elm Street, New Canaan CT https://www.targetedre.com/portfolio_type/elm-street/?utm_source=rss&utm_medium=rss&utm_campaign=elm-street https://www.targetedre.com/portfolio_type/elm-street/#respond Wed, 16 Mar 2016 18:35:14 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=127 Gulf 258 Elm Street, New Canaan CT The Principals of Valorem acquired this boutique owner occupied office building in an affluent suburb of New York City with the intention of subdividing the building for multi-tenant use. During our marketing we were able to identify a local bank that was looking for a new corporate headquarters. […]

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Gulf 258 Elm Street, New Canaan CT

The Principals of Valorem acquired this boutique owner occupied office building in an affluent suburb of New York City with the intention of subdividing the building for multi-tenant use. During our marketing we were able to identify a local bank that was looking for a new corporate headquarters. We signed a 10-year lease with the bank at rates above our initial underwriting.

Acquisition Summary

All in Cost $11,500,000
Market New Canaan, CT
Square Feet 29,500
Projected IRR 20%
Realized IRR 17.6%
Holding period 5 years – Projected

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]]> https://www.targetedre.com/portfolio_type/elm-street/feed/ 0 Westport View Corporate Center, Westport, CT https://www.targetedre.com/portfolio_type/active-den/?utm_source=rss&utm_medium=rss&utm_campaign=active-den https://www.targetedre.com/portfolio_type/active-den/#respond Wed, 16 Mar 2016 18:34:37 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=125 Westport View Corporate Center A two building, 80,000 square foot first class office complex with a highly visible and desirable location in Westport, CT. Principals of Valorem purchased this complex with the intent of turning it into a smaller tenant boutique building. Upon acquisition the property had 15 tenants, mostly local offices of national and […]

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Westport View Corporate Center

A two building, 80,000 square foot first class office complex with a highly visible and desirable location in Westport, CT. Principals of Valorem purchased this complex with the intent of turning it into a smaller tenant boutique building. Upon acquisition the property had 15 tenants, mostly local offices of national and regional companies. We were successful in buying out a large tenant and extending them long term in a smaller space. We then broke up the remaining space and leased to smaller local tenants at substantially higher rates. In less then three years we diversified the rent roll from 15 tenants to 28 and were able to exit the investment in less time and above our initial underwriting.

Acquisition Summary

All in Cost $27,362,834
Market Westport, CT
Square Feet 80,000
Projected IRR 14.5%
Realized IRR 18.8%
Holding period 2.6 years

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]]> https://www.targetedre.com/portfolio_type/active-den/feed/ 0 Camp Avenue, Stanford, CT https://www.targetedre.com/portfolio_type/audio-jungle/?utm_source=rss&utm_medium=rss&utm_campaign=audio-jungle https://www.targetedre.com/portfolio_type/audio-jungle/#respond Wed, 16 Mar 2016 18:34:06 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=123 Camp Avenue Principals of Valorem had the exclusive opportunity to make a $5 million preferred equity investment in a single purpose limited liability company that is developing 170 condominium units in a desirable, infill location in Stamford, Connecticut. The developer’s principals contributed $3 million of common equity (approximately 37.5% of the total equity), which was […]

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Camp Avenue

Principals of Valorem had the exclusive opportunity to make a $5 million preferred equity investment in a single purpose limited liability company that is developing 170 condominium units in a desirable, infill location in Stamford, Connecticut. The developer’s principals contributed $3 million of common equity (approximately 37.5% of the total equity), which was subordinate to Valorem’s investment. Given the structure of the transaction, the location of the property in a strong and supply constrained submarket, the investment represented a unique opportunity to generate an attractive riskadjusted return. The significant equity commitment by the developer, as well as the full payment and completion guarantee that the developer executed with the construction lender, places the investment in an attractive position in the overall capital structure and also demonstrates the developer’s confidence in the transaction.

Capitalization

Developer Common Equity $3,000,000
Preferred Equity $5,000,000
First Mortgage $48,490,000
Total Funding $56,490,000

Acquisition Summary

All in Cost $56,490,000
Developer RMS Construction, LLC
Quarterly Preferred Return 8.0%
IRR/Lookback 22.9%
Term 36 Months
Early Redemption Developer may redeem investment as early as the 16th month, provided the payment incorporates a 22% IRR on the investment

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