Portfolio

Investment Highlights

• Though its relationship with the broker, SKB was introduced to the asset and began due diligence prior to its competitors in the marketplace
• Purchased for $750,000 less than the highest bidder as a result of SKB’s willingness to expedite due diligence, offer a non-refundable deposit and close according to agreed upon timeframe
• Opportunity to own one of the most recognizable office properties in a transforming neighborhood and increase occupancy from 80% as the neighborhood became more desirable for office space
• Opportunity to capture unrealized revenue through new signage, installation of automated parking control equipment and redevelop the ground floor as retail capitalizing on Sunset Boulevard frontage
• Increased occupancy from 87% to 95% and raised rental rates by 10% in 17 months
• Relocated ground floor tenant and began converting office space to retail, representing a potential 62% increase in rent
• Generated an additional $400,000 of revenue per year through new signage and parking upgrade, as well as reducing the cost of parking overhead
• Sold the asset in 2006, achieving its “seven year hold” sales price after 24 months