Property Type: Single-tenant retail
Asset: Building, Bankruptcy
Metro: Orlando, FL
Size:4,307 SF
Year Acquired: 2011
Going-in yield: 13.3%
LTV:n/a (all cash)
IRR (net). 42% (realized, Nov. 2011)





Melbourne, FL

Transaction Overview
Acquired a fee simple interest in an existing building in a prime location along W. New Haven Avenue, the major arterial linking US 95 and Highway 1 in Melbourne, FL.

Investment Strategy
Stressed. Purchased a vacant property out of a bankruptcy court proceeding, renovated and re-tenanted it. Located along furniture row, in a major retail corridor in Brevard County, Florida, just south of Orlando. The property was originally built in 1958, and was completely renovated in 2011.

Value Creation
Renovated and ret-tenanted an existing structure purchased out of US bankruptcy court.