Westridge Office Building

Industrial

Westridge Business Park – New Berlin, WI

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2001

Year Acquired

60,000 SF

Commercial Space

In 2001, a Kentucky-based public company announced that it would downsize its Wisconsin operations and seek to divest a 60,000 square foot Class A office facility in New Berlin’s Westridge Business Park. General Capital structured a creative sale-leaseback transaction to achieve the company’s goals while meeting General Capital’s investment requirements.

Upon acquisition, General Capital was able to “re-stack” the building and create several new tenant spaces. The building is set in a beautiful wooded environment with attractive landscaping and great views.

General Capital actively seeks attractive, value-added acquisition opportunities to add depth to its portfolio. The firm is able to structure win-win transactions for companies seeking creative real estate strategies that enhance their long-term business plans.

KEY THEMES

Value-add office acquisition demonstrated General Capital's ability to identify opportunity within a corporate downsizing and real estate disposition
Creative sale-leaseback structure balanced the seller's business objectives with General Capital's investment and repositioning strategy
Post-acquisition reconfiguration created multiple new tenant spaces and improved the building's flexibility for multi-tenant occupancy
Class A office environment combines professional space with a distinctive wooded setting, attractive landscaping, and strong natural views
Successful acquisition and disposition demonstrates the value of flexible transaction structures and active asset repositioning

RESULTS

Acquired a 60,000 SF Class A office facility in New Berlin's Westridge Business Park in 2001
Successfully re-stacked the property following acquisition to create additional tenant spaces and improve leasing flexibility
Executed a successful disposition in 2004 following the property's value-add repositioning
Generated a 59.29% gross IRR and 39.24% net IRR on the realized investment
Achieved a 3.85x gross equity multiple and 2.59x net equity multiple, demonstrating a strong realized investment outcome