Houston, Texas
Pin Oak Park
Total Square Footage: 505,106 SF
Acquisition Date: XXXX 2024
Unrealized
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Altera Fund Advisors is a diversified commercial real estate firm focused primarily on investing in medical and healthcare-related real estate assets as an advisor, sponsor, and general partner.
Altera Fund Advisors and its affiliates have acquired approximately $450 million of real estate assets across predecessor partnerships and vehicles.
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This offering represents a unique opportunity to invest in a well-located, urban medical outpatient building which has been historically mismanaged, resulting in a currently under valued piece of real estate. The building is currently 68% leased with rents 30% below market. The property is being purchased for $99/SF and the partnership plans to invest $51/SF in capital improvements in order to reposition the property to a Class B+ asset, which is roughly 45% of the replacement cost of the building.