- Capstone acquired a discounted note that was secured by a 550,383 SF of big box retail located in Boardman, Ohio.
- The big box center was acquired in 2007 for $30.8M; the borrower subsequently defaulted on their loan.
- Tenants in the center include Save-A-Lot, Ollies Michael’s, Burlington Coat, Planet Fitness, US Postal Service and numerous other big box tenants.
- Capstone recapitalized the center in a 50/50 partnership with the prior owner and secured new first mortgage financing.
|Realized Deal IRR||24.9%|
|Realized Deal EM||1.96X|
|Hold Period||5 Years|