Whitestone Realty Capital is proud of our expertise in bringing about successful JV partnerships for commercial real estate developers.
In a recent transaction, we introduced a West Coast client to an institutional investment firm which resulted in a very successful investment in an office property in Santa Clara. This value-add deal was recently sold, with the investment returning an amazing 311% (that’s not a typo).
From a recent article in the Silicon Valley Business Journal:
“Buildings leased to so-called “credit,” or high-quality, cash-flush tenants have always fetched premiums because the assets are considered safe places to park capital and earn a guaranteed return. But the recent sales show how quickly an investment can appreciate in value after an empty building lands the world’s most valuable corporation as a tenant.
Perhaps the most striking flip is that of 5440 Patrick Henry Drive, a 185,000-square-foot R&D building that Foster Enterprises acquired at the tail end of 2013— when it was vacant — for $19.5 million. It sold to Deutsche Asset & Wealth Management in January of this year, after landing Apple in 2015, for $80.15 million — a 311 percent run-up after about 24 months.”
While such returns are not typical of most commercial real estate transactions, this illustrates how investment firms in partnership with knowledgable developers can reap significant profits.
Whitestone Realty Capital is proud to have introduced the principal to the investor, who continues rely on us for their equity capital requirements.
Mike Zukerman in Scotsman Guide
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Michael Zukerman is the Managing Director and CEO of Whitestone Realty Capital, LLC. Whitestone Realty Capital, Inc (“WRC”) is a developer and real estate investment banking firm.
Marv Eisen is a Director of Whitestone Realty Capital (WRC). Prior to joining WRC, Mr. Eisen was a Vice President in his family’s manufacturing business that specialized in apparel for the military, police and fire departments as well as producing metal stampings for General Motors and Ford. A mechanical engineering graduate of the University of Pittsburgh, Mr. Eisen’s responsibilities included oversight of manufacturing operations in 3 plants, supervising 160 direct employees in the firm’s manufacturing operations. The company owned two buildings, and Mr. Eisen was instrumental in building acquisitions and utility infrastructure. Mr. Eisen’s responsibilities at WRC include transaction origination; underwriting due diligence; active participation in lender/investor sourcing and negotiations; and ongoing account management.