Bay Oaks was part of a 108,415 SF, three building, Class A industrial portfolio in Houston, Texas, that was 100 percent vacant at acquisition. The 30,115 SF building was acquired at a discount to replacement cost due to a liquidating partnership. Summit acquired the three-building new construction portfolio and assumed the lease-up risk. Summit executed on the leasing strategy and divested each building separately between 2013-2016.
Location
Bay Oaks
Houston, TX
Industrial | Realized
Asset Summary
- Acquisition Date:
- Q3 2013
- Size:
- 30,115 SQ FT
- Property Type:
- Industrial
- Deal Profile:
- Fund I, Aquisition
- Investment Profile:
- Opportunistic
- Deal Source:
- On Market