Equity Multiple Return
Property Type: Single-tenant Retail
A ground-up development of a stand-alone retail building located in Corpus Christi, TX about 150 miles south of San Antonio. FCA contributed 100% of the equity for the project, which was completed in a joint venture with Embree Group.
We obtained an extended, corporate-guaranteed lease with the tenant prior to construction and completed the building to the tenant’s specifications. The completed property was sold to a REIT specializing in net lease properties, taking advantage of the tenant’s strong credit rating and the historically low interest rate environment.