PROFILE
- 4-story office building within Maitland Center offering unique lakefront views on three sides of the property
- Located in the most convenient submarket in Orlando, with excellent connectivity to the surrounding area and abundant amenities
Realized IRR:
24.7%
Realized EM:
3.16x
Execution
- Repositioned to Class A status through capital improvements including a fully renovated café, upgraded restrooms, elevator lobbies, corridors, and monument signage, as well as elevator modernizations and various systems and building upgrades
- Leased up asset from 80% upon acquisition (with an additional known vacate of 12.5% of NRA) to 91% occupancy upon disposition, while simultaneously pushing rental rates as a result of the extensive renovations
