330 & 350 MOTOR PARKWAY
- Capstone acquired the first mortgage secured by a two suburban office buildings located in Hauppauge, NY.
- Capstone obtained the deed to the property within six months of acquiring the note.
- 330-350 Motor Parkway is a portfolio of two three-story Class-B office buildings, built in 1971.
- These office properties are located within the robust Hauppauge Office Market in a highly visible and accessible location directly off the Long Island Expressway / I-495.
- The building was renovated as follows: existing HVAC energy management systems were upgraded. Existing vacant space, common areas, and lobbies were redesigned.
- The properties were sold in 2018.
|Realized Investor IRR||30.1%|
|Realized Equity Multiple||2.75X|
|Hold Period||6 Years|