A centrally located, two story 9,472 sf office building, located within an 8-building business park / Disposition (Syndication)
As of 5/31/24, AGM has sold one of two office buildings within Redmond Office Center. During the 4th quarter of 2019, AGM raised $1.85 million in equity to purchase 2 Redmond office buildings (ROC #1 & #4). ROC #1 is located at 7901 168th Ave NE, Redmond including a 19,560 SF lot, a 9,120 SF building occupied by 6 tenants.
A low-risk investment, with a goal to manage and lease the properties, while aggregating the remaining office properties to a larger redevelopment. After a number of years of effort, the decision was to change directions and sell the properties as an owner user opportunity.
A successful Syndication as the four-and-a-half-year investment realized:
2019 accelerated depreciation schedule
An Internal Rate of Return of 17.1%
Significant property appreciation with a 2.37x equity multiple
The sales proceeds were returned to the partners, compensating for 5 years of distributions and 100% of all equity, leaving the partnership with 100% equity in the remaining investment, Building #4.
For more information on syndication and the closing of Redmond Office Center contact Troy Gessel.
AGM REAL ESTATE
Troy Gessel
Principal
C: 425.301.4422
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