Adler acquired the property in 2005 and completed a building renovation and maintained high occupancy during its fifteen years of ownership. Adler brought in signature tenants such as Omni Healthcare, Regus, Progressive Insurance and Principal Life. Adler recently upgraded the building’s energy systems, which included a solar installation with covered carports making it one of the most energy efficient buildings in Bakersfield.

The investment provided Adler’s investors cash flow and substantial appreciation over the ownership period. “We are pleased with the success of the investment,” said Michael Adler, president of Adler. “This venture is a typical transaction for our business. We acquired an under-performing property, executed our business plan to improve and stabilize the asset, resulting in higher values.”

Adler continues to look throughout the western United States for other value-add office, industrial, and retail opportunities. Alex Belfour, Jeff Andrew, Scott Salters, and Susan Moreno of Cushman & Wakefield represented the seller in the transaction.

Adler acquired the 32% occupied property in 2004 and completed a full renovation to the common areas including lobbies, restrooms, and café. During its first few years of ownership, Adler successfully stabilized the property with several large leases, including four with various government agencies. Adler maintained high occupancy during its fifteen years of ownership and subsequently made other major upgrades to building infrastructure, including the replacement of the fluid cooling towers, modernization of all seven elevators, and major improvements to the fire life safety system.

“The investment provided Adler’s investors cash flow and substantial appreciation as the property nearly doubled in value over the ownership period. We acquired an under performing asset at a discounted price and successfully executed our business plan to renovate and lease-up the high vacancy” said Michael Adler, President of Adler.

Adler continues to look throughout the western United States for other value-add office, industrial, and retail opportunities. Mindy Korth of Colliers represented Adler in the transaction.

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.”

The property had been acquired in 2014 from a seller who was in bankruptcy and Adler worked with the courts to have the sale approved. Two thirds of property was leased back to the seller and the remainder is being marketed for lease. Adler stabilizes the property with a second tenant providing the Adler investors a steady cash flow.

The original seller had the option to purchase the property back from Adler but did not exercise option. Adler was then able to sell the buildings at a greater price providing investors a 20% annual rate of return over a four year period.

“We are pleased with the investment structure we were able to create which provided a win-win scenario for all of the parties in the transaction” said Michael Adler, president of Adler Realty Investments. “Adler continues to provide rescue capital to owners and implement creative solutions to solve financial and operational issues.”

Adler, who acquired the project in 2003, fully renovated the buildings systems and common areas over the years while maintaining high occupancy. Adler successfully restructured the debt to enable the company to carry the project through the economic downturn.

“We are happy with the recovery of the property’s value since the collapse of the real estate market, and the cash flow produced from the property during our ownership” said Michael Adler, president of Adler Realty Investments. “while we owned the property for a longer period than originally anticipated, our commitment and expertise allowed us to provide a nice profit to our investors “

The sale was an off market transaction with Noel Aguirre, of Lee & Associates and Jorge Yamzon of Remax , bringing the sale together.

Adler/LLJ acquired the property in 2013 as part of a larger portfolio consisting of twelve additional buildings on 24 acres of land known as the Warner Center Corporate Park.