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.”