Size: 38,368 s.f. retail center
Location: Savannah, GA
Major Tenants: Kroger grocery store (shadow anchor), AT&T, Fuddruckers, Pizza Hut, Subway

Status at Closing:

Date: June 30, 2014
Occupancy: 85%
Purchase Price: $5,900,000

Three-Part Business Plan:

Reposition Tenancy:
Take advantage of improving local market conditions to stabilize and reposition the tenancy.

Reduce Operating Expenses:
Actively manage property (which has suffered thru distressed ownership) utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses.

Increase NOI: 
Increase NOI by approx. 30% over a five year holding period.

Status at Sale:
Date: October 30, 2017
Occupancy: 96%
Sale Price: $7,212,500

Actual Investment Returns:   

Equity Invested: $2,450,000

Actual Investor Returns:   
10.5% current cash-on-cash
18.8+% IRR over 3.3 year hold 
Investment Multiple:  1.65