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The property spans 13.2 acres, consisting of a 155,459 sq. ft. retail anchored plaza. The tenants are a mix of publicly traded corporations, government, and national brands with a weighted average lease term (WALT) of 14.1 years, realizing a going-in capitalization rate of 8.8%.
R2 projects forced appreciation in the property’s value of approximately 36% in the next 12-18 month time frame. The significant percentage increase in property valuation will be achieved as a result of improving operational efficiencies, finalizing lease negotiations from key tenants, the favourable entry price of $12,500,000, and other value-add opportunities. Once stabilized, the increased value will allow R2 to refinance the property and return all invested capital to their investors in less than a 24 months time frame.
Further value-add opportunities which R2 will explore over the coming months include:
- Developing one or more Quick-Service Restaurants (QSRs).
- Renegotiation of under-market value lease rates.
- Leasing the remaining vacant space to a public corporation with a strong covenant and brand.
- Explore the potential for mixed-use, multi-family development with the abundant land area.
Corporate Profile:
R2 Capital Partners Inc. offers a full-service operating platform containing expertise in acquisitions, financing, property operations, renovations, accounting, risk management, market research, and other related support functions. Brock Rogerson and Spencer Riche lead R2 Capital Partners Inc., combining over 20 years of experience, jointly holding over $40 million in real estate assets, headquartered in Calgary, Alberta, with a second office in Winnipeg, Manitoba.
About R2 Capital Partners Inc.
R2 Capital Partners Inc. is a privately held, real estate investment firm, offering investors diversified exposure to residential and commercial real estate. Utilizing a vast network of partnerships, relationships, and industry-leading technology to capitalize on emerging secondary, and tertiary markets across North America.
