Parkpoint Business Center

Santa Rosa, California
Project Description 70,000 square foot suburban office park comprised of 5 single-story buildings. Central location near downtown and freeways.
Challenge Underwrite and purchase this REO property from special servicer, perform site and building renovations, update image, lease vacant office space, sell individual buildings.
ResultsMajor site improvements completed. Three buildings leased up and sold to investor buyer after one year. Other two buildings sold to owner/users.
DetailsPurchase Date: December 2010.
Completion Date: Summer 2015.
Current Status: All buildings sold.
Total Value $7 million.