Waterton Commercial Investment Activity
405 North Wabash Garage and Retail
| Location: | Chicago, IL |
| Date Acquired: | 2/2000 |
| Date Sold: | 4/2002 |
| Equity: | $2,125,000 |
| IRR | 53.08% |
Strategic Joint Venture. Major renovation of 400 car garage. Converted to condo garage. | |
Printers Square Telecom Facility
| Location: | Chicago, IL |
| Date Acquired: | 4/2000 |
| Date Sold: | 9/2005 |
| Equity: | $4,572,173 |
| IRR | 45.12% |
Strategic joint venture. Reposition commercial space to fortress data center space. |
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471 Brighton Court Industrial Property
| Location: | Bloomingdale, IL |
| Date Acquired: | 6/2003 |
| Date Sold: | 11/2004 |
| Equity: | $1,155,000 |
| IRR | 19.4% |
Strategic joint venture. Vacant property acquired at below replacement cost. Marketed and sold, as-is, to user. |
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Lakeview III Industrial Parkway
| Location: | Pleasant Prairie, WI |
| Date Acquired: | 6/2004 |
| Date Sold: | 11/2004 |
| Equity: | $1,000,000 |
| IRR | 131.4% |
Strategic joint venture. Acquired 100% occupied building with a short term lease. Extended lease and sold to core buyer. |
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National Parkway Industrial Complex
| Location: | Schaumburg, IL |
| Date Acquired: | 12/2004 |
| Equity: | $1,220,000 |
Strategic joint venture. Property acquired at foreclosure with 50% vacancy. Completed lease up and refinanced. |
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Super 8 Motel
| Location: | Las Vegas, NV |
| Date Acquired: | 1/11/2006 |
| Equity: | $4,500,000 |
| Number of Rooms: | 300 |
| Year Built: | 1989 |
Opportunistic acquisition of income-producing off-Strip site with entitlements for gaming-resort redevelopment. Hold for sale or venture with developer. |
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North Shore Skokie Hotel
| Location: | Skokie, IL |
| Date Acquired: | 2/28/2006 |
| Equity: | $6,500,000 |
| Number of Rooms: | 367 |
| Year Built: | 1973/1981 |
Strategic joint venture. Acquire at well below replacement cost. Attract a major flag. Complete major rehab. Sell upon reaching stabilization. |
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2401 Palmer Industrial Property
| Location: | Schaumburg, IL |
| Date Acquired: | 2/14/2006 |
| Equity: | $1,535,000 |
| Year Built: | 1969 |
Strategic joint venture. Acquire at well below replacement cost. Property 100% vacant, complete lease up. Subdivide building into multi-tenant. Market excess vacant land along with space. |
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Metro-Minnesota Portfolio
| Location: | Various Metro-Area, MN |
| Date Acquired: | 07/19/2006 |
| Equity: | $10,750,000 |
| Square Footage: | 763,950 |
| Year Built: | 1970s and 1980s |
Property 25% vacant, complete lease up. Subdivide and sell individual buildings. | |
