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500 So. Palm Canyon Dr., Palm Springs, CA
- Alan Ladd Building - Palm Springs, CA
- Performed value add renovations and repositioning in 2006 resulting in increased rents by 2x to 5x multiple
- Purchased building in 2005 for $117 per square foot
- Refinanced building in December 2007 at appraised value of $257 –> over 2x costs basis
- Realized IRR over 100% via refinancing.
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