Equity Resource Fund 2020 committed up to $2.4 million in LP Equity with an existing relationship to acquire a 50,050 square foot Class B flex-industrial property in Southwest Texas. The asset was built in 1982 and is currently 100% occupied by 14 tenants with a weighted average remaining lease term of 3.1 years. The asset has been historically mismanaged, with the previous owner failing to collect reimbursement income form approximately two thirds of the tenants. The investment represents an opportunity to capitalize on easily realizable revenue growth by charging tenants for reimbursable expenses as provided in their leases. Further income growth will come through hands-on active management and leasing.
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