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.
Bay Oaks
Industrial | Realized
Houston, TX
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 |
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