WINDWARD FOREST II

Windward Forest II was an off-market transaction that "found" SDM. The seller had some unfortunate events in a short time that caused the property to be 65% vacant. The situation was reminiscent of 2010-2012. A repositioning and lease-up started right after closing.

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Windward Forest II went under a complete repositioning with a new 20-year roof, all new HVAC equipment, new bathrooms and common area, and extensive new landscaping. The property, as of February, 2017, was on the verge of being 100% leased at rental rate well above underwriting.

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Purchase Price: $2,000,000 in November, 2015

Exit:  $5,100,000 in July, 2017

         34.1% IRR, 1.64x Multiple

 

Capital Partners: High Net Worth Individuals and the Bank of North Georgia

 

Building Specifications:

-33,012 SF One-Story Office

-165 Parking spaces

-3.44 acres