|
Beal Fund III LP, a Delaware limited partnership, has been formed to invest in opportunistic commercial real estate and office assets in Michigan and Ohio. The fund will focus primarily on cash-flow positive office assets in Southeast Michigan with flexible uses.
Beal Capital will create value by implementing capital improvements plans, creating operation efficiencies, increasing occupancy, and reducing operational expenses. The portfolio is expected to benefit greatly from economies of scale through aggregation. |
|
835 LOUISA - LANSING, MI
The fund's first acquisition is a 16,000 SF two-story, multi-tenant, urban office building. This property was purchased on land contracted with a 30 year seller-held note. 835 Louisa is a significant opportunity to redevelop a mismanaged and underperforming asset into an attractive commercial space for local business. We plan to reposition the asset through much-needed major capital improvements to the heating & cooling system, replacing the parking lot, and renovating all interior suites to attract quality businesses to the building.
411 WEST LAKE LANSING - EAST LANSING, MI
Shortly after acquiring its first property, Beal fund III acquired 411 West Lake Lansing. This two-building, 20,000 SF office campus in East Lansing is centrally located and provides an excellent environment for attorneys, finance companies, medical offices, and many other professional office uses in a facility that will see its demand increase as office users re-emerge in the post-COVID era. We plan to demise and renovate this fully-occupied building if and when any occupants vacate, allowing us to increase the price per foot performance of the asset, while still maintaining its professional image.