1200 Riverplace
Realized 1200 Riverplace is a 200,627 square-foot, class-A office property located in the downtown Southbank submarket of Jacksonville, FL. The asset was approximately 94% leased at the time of acquisition. The investment had a Core-Plus profile at acquisition because of the opportunity to increase cash flows through light property improvements, management efficiencies, and by slightly increasing building occupancy, while at the same time generating an attractive contractual going-in cash yield.
Investment Info
- Status: Realized
- Market: Jacksonville, FL
- Property Type:
Office - Square Footage: 200,627
- Lingerfelt Role: General Partner
- Strategy: Acquisition
- Sub-Strategy: Renovation
Investment Metrics
- Entry Date: July 25, 2016
- Purchase Price: $23,625,000
- Total Capitalization: $26,280,000
- Exit Date: August 31, 2021
- Exit Price: $20,670,000
- Hold Period: 5.1 Years
