Equity Multiple Return
Property Type: Single-tenant Retail
Sold on July 15, 2014, a ground-up development of a stand-alone retail building located in Tehachapi, CA. FCA contributed 100% of the equity for the project, which was completed in a joint venture with Embree Group.
We obtained a 15-year lease with the tenant prior to construction and completed the building to the tenant’s specifications. The completed property was sold to a 1031 exchange buyer, taking advantage of the tenant’s strong credit rating and the historically low interest rate environment.