Acquired a 115,770 SF suburban office in Columbus, Ohio, from the CMBS Special Servicer. At the time of acquisition, the property was 19% leased and required significant CAPEX to address deferred maintenance. PNL invested heavily to modernize the common areas, address CAPEX, and provide strong tenant allowance packages, increasing occupancy to 92% at the time sale, 24 months after acquisition.
Leave a reply