Two and Five Governor Park
San Diego, California |
The Property
Two and Five Governor Park are two institutional
quality office buildings located in the Governor
Park office park in San Diego, California. The
buildings contain a total of 75,518 rentable square
feet. Governor Park sits within San Diego’s prestigious
“Golden Triangle”, offers convenient access
to regional commuter arteries, I-5, I-805 and
Highway 52, is surrounded by a variety of amenities
and housing options, and is proximate to the
thriving research centers, military facilities, and
businesses located in central San Diego County. |
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Paladin Advantage
Paladin REIT’s investment in this joint venture is
structured as preferred equity. Paladin REIT will
receive a priority return of 9.0% annually on its
invested equity from property cash flow and a priority
return of its equity and a 15% internal rate
of return (IRR) upon sale. This structure provides
an attractive current and total return to Paladin
REIT with the benefit of capital protection. |
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| Investment Date |
December 2008 |
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| Total Capitalization |
$16,686,350 |
| Debt |
11,440,000 |
| Equity |
5,246,350 |
| Paladin REIT Investment |
2,500,000 |
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