This project was an existing office and industrial complex consisting of 74,300 square feet divided between two buildings. The space was only 30% occupied and in disrepair at the time of SIG’s acquisition. We were able to negotiate a substantial discount to the asking price as well as a long escrow enabling us to develop our renovation plan and begin leasing prior to closing escrow. Within 12 months of purchase, we were able to refinance and return all equity to the investors and retain substantial cash flow to investors, well in excess of a 20% return on their original equity. SIG currently owns this asset and handles asset management, with Hill Partners as the property manager and leasing agent.