Trabert Avenue – (2) Buildings:
- Southland Circle
- Bishop Street
The Intown Properties portfolio was purchased in the fall of 2004. The investment originally consisted of four buildings totaling 59,500 square feet. CPC made significant renovations to all four properties. CPC was able to renovate and sell one of the four properties within ninety days of purchase.
The freestanding 11,750 square foot building on Southland Circle was purchased and renovated at a cost of $625,000 and sold for $825,000. Based on the properties pro-rata share of the portfolio CPC was able to generate a 218% return on initial equity for its clients in ninety days.
Permanent debt was placed on the remaining assets in 2006. At that, time investors were returned 95% of its remaining equity in the project. Since the refinancing 100% of investors equity has been returned.