Branford Commerce Center, Branford, CT

Office/industrial property containing a total of 120,000 square feet in which First Evergreen increased occupancy from 81 % to 100% while converting from predominantly industrial use to office use. The property was sold at a price resulting in a 28% IRR.

 

212 Church Street, Lansdale, PA

93,795 square foot office building which was 84% occupied by a single user at the time of acquisition. First Evergreen renegotiated the tenant's lease to increase its occupancy to 100% and extended the term to a full 10 years while making other improvements in management and operation. As a result, the property was sold at a price representing a 30% IRR.

Larchmont Commons Shopping Center, Mt. Laurel, NJ

124,662 square foot grocery-anchored center. First Evergreen secured an area supermarket operator after negotiating a lease buyout at another location and also leased up the vacant units, thus adding additional tenants and adding income to the bottom line, leading to a sale that resulted in a 21 % IRR.

 

2-4 Industrial Boulevard, Paoli, PA

A multi-tenanted, 100,000 square foot office complex strategically located across from a major area hospital. Although the property was 100% leased, one tenant with questionable credit had requested an early termination. First Evergreen arranged for a negotiated buyout of that one tenant and arranged for the hospital to occupy all remaining available space in the building at increased rents.As a result of this and other leasing activities, the property was sold at a price generating a 20% IRR.

 

Evergreen Plaza Shopping Center, Mt. Holly, NJ

87,532 square foot grocery anchored shopping center which had been yielding 12.4% on invested capital. First Evergreen stabilized the tenancy in the shopping center, leased and took part in the construction of a pad site to a fast food operator and sold the property, realizing an 18% IRR.

 

CMR Building, East Goshen, PA

20,000 square foot single tenanted office building purchased for $2,000,000 and placed a $1,500,000 mortgage on the property. First Evergreen restructured the lease during the 4th year of the term and placed a new mortgage of $2,000,000 returning most of the invested capital. Shortly thereafter the building was sold for 3,000,000. This resulted in a 17% IRR.

 

Newtown, PA - Land Sale

First Evergreen purchased a 120,000 square foot building complex in Newtown, PA that had an unrecognized opportunity of excess land that could be separately sold without any impact to the building. The land was subdivided and sold generating a profit of $250,000.

 

First Evergreen has invested in properties on a co-sponsorship basis with parties it has a long standing relationship with and as a result has produced the following returns:

First Evergreen was part of the original investment group that purchased the building from the lender and sold the property for a 50% return within the first 12 months of ownership.

First Evergreen has invested in properties on a co-sponsorship basis with parties it has a long standing relationship with and as a result has produced the following returns:

First Evergreen invested with Caribbean Property Group and purchased the largest portfolio of shopping centers in Puerto Rico and sold the portfolio 4 years later. The resulting internal rate of return to our investment group was 26%.