Tryperion provided preferred equity for the acquisition and lease-up of Union Square, a two-building, 324,000 square foot office property in San Antonio, TX.
Tryperion directly acquired a 414,000 SF, two-building Class A office portfolio with strong in-place cash flow and a six-year WALT with additional upside through active asset management.
Tryperion provided joint venture equity for the acquisition of a 200,000 SF Class A office asset capitalizing on a 70% occupancy profile with embedded lease-up opportunities.
Tryperion acquired the 1.1M SF, five-building office portfolio at 68% occupancy. The portfolio is adjacent to the 100% occupied Fashion Mall at Keystone, the MSA’s premier shopping destination anchored by Nordstrom and Apple. The business plan includes overhauling and expanding amenities, reimagining building exteriors, improving common areas, replacing aging building systems, and launching an aggressive leasing campaign with competitive tenant improvement packages, which the previous owner could not offer.
The continued success of the Allied Solutions Building in Midtown Carmel spurred Tryperion’s decision to expand in the market by acquiring the neighboring Class A office property, Midtown III.
Tryperion acquired the 282,000 SF office building in Clayton, MO at 59% occupancy. The business plan included converting the existing vacant first-floor retail space into amenities, renovating the common areas, and aggressively marketing the vacancies.
The Allied Solutions Building is an office building at the heart of a major mixed-use district in the affluent Indianapolis suburb of Carmel. The 142,000 SF Class A property serves as the centerpiece of the heavily foot trafficked Midtown Plaza.
Tryperion acquired the 254,000 SF, five-building, single-story flex office complex at 60% occupancy. The seller, a large pension fund, had refused to fund tenant improvements or invest the necessary capital to attract tenants. The business plan focused on enhancing the property’s curb appeal and aggressively leasing the remaining vacancies with competitive tenant improvement packages.
Investment Highlights
Brought occupancy from 60% to 100% and sold in 2020
Tryperion acquired the 107,000 SF office building at 82% occupancy. The business plan focused on increasing occupancy, rental rates, and tenant retention with the addition of new conference facilities, a tenant lounge, outdoor amenities, and modernizing all common areas.
Investment Highlights
Increased occupancy from 82% to 92% and sold in 2020
Tryperion acquired the 105,000 SF property in the heart of downtown Chandler, one of the most walkable office locations in the Phoenix MSA. The property was 95% leased at acquisition, with a 60% anchor tenant paying below market rent. The business plan focused on driving rental rate increases through targeted capital improvements to align the building with the growth and energy of the submarket.
Investment Highlights
Negotiated an extension/contraction with the anchor tenant to increase their base rent by 26% and reduce their space by one-third
Converted anchor tenant’s subtenant to a direct building tenant
Tryperion acquired the 85,000 SF flex office complex at 79% occupancy. The business plan focused on improving the property’s curb appeal, building spec suites and aggressively leasing the remaining vacancies.
Tryperion acquired the 83,000 SF office building at 74% occupancy with a 10-year lease in place from a healthcare tenant (AA- credit rating) that included a “must-take” provision for the remaining vacancy within 3 years.
Investment Highlights
Improved management procedures to reduce operating expenses
Negotiated an early exercise of the anchor tenant “must-take” and sold in 2017 at 100% occupancy
Tryperion acquired the value-add 77,000 SF office building in the Phoenix MSA at 59% occupancy. The business plan focused on increasing occupancy through common area upgrades and a proactive spec suite program.
Tryperion acquired the 385,000 SF, four-building office portfolio at 88% occupancy. We increased occupancy through $1.5m in common area renovations and aggressive leasing programs.
Investment Highlights
Sold one building within six months of the acquisition, generating a profit relative to that buildings allocated basis
Tryperion acquired the 250,000 SF office two-pack at 83% occupancy and completed a $2.5m renovation program, adding a fitness center, conference center, and outdoor amenities. Through strategic capital improvements and aggressive leasing efforts, we strengthened the property’s market positioning and stabilized the asset.
Investment Highlights
Established the property as a premier Class A office campus in St. Louis
Tryperion acquired the REO 88,000 SF office building at 62% occupancy. We increased occupancy and rental rates through common area upgrades and construction of move-in-ready spec suites, targeting small tenants in a small tenant-dominant submarket.
