Adler Realty Investments Sells Office Building in St. Charles, Missouri
St Louis (July, 2018) – Adler Realty Investments, Inc. (Adler) announced the sale of a 53,643 square foot office building in the St Louis suburb of St Charles. The property which is 100% leased with Royal Canin as the major tenant, was sold to a private investor. Royal Canin recently extended their lease and plan to expand in the building, creating a great deal of value and thus justifying the sale.
The building was acquired in 2015 as part of a two property portfolio from a bank who had taken the property from a developer who had defaulted on their loan. Adler purchased the property at a deep discounted price which was well below replacement cost. The property provided the investors cash flow averaging 14% annually and provided an overall annual internal rate of return (IRR) of approximately 31.8%, which equates to a total return on investment of approximately 107%.
“We are very pleased with the outcome of this investment as our investors were able to double their investment over a short period of time,” said Michael Adler, president of Adler Realty Investments. “We continue to excel in providing investors with unique investment opportunities providing above market returns.”