Date Purchased: 1993
Purchase Price: $760,000
Total Capital Invested: $1,950,000
Current Estimated Market Value: $3,500,000
Approximate Annual Dividend Cash Flow: 20%
Upon purchase of the West Towne Centre Building, the acquisition team immediately began converting the building from industrial use to commercial multi- tenant use with a new paved parking lot, new exterior and interior upgrades. The initial capital invested including the purchase price, was $1,200,000, which covered all the improvements listed in 1993-1994. The building was appraised for $1,800,000 by the end of 1994.
Since purchase, West Towne Centre has been fully occupied with only brief intervals of vacancy. In 2015, another upgrade was completed to modern standards equating the total capital invested, including purchase price of $1,950,000. Today the building has been valued at $3,500,000.