Houston, Texas
Pin Oak Park
Total Square Footage: 505,106 SF
Acquisition Date: XXXX 2024
Unrealized
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Altera has historically invested across property types and geographies. Altera’s primary investment strategy is to acquire value-add medical office buildings and healthcare real estate assets at a substantial discount to replacement cost.
Altera believes healthcare-related real estate assets are resilient through economic cycles and other unanticipated disruptions such as pandemics. Altera seeks to generate value-add and opportunistic returns through asset renovation and repositioning. Altera’s disciplined investment process has been refined over years of real estate acquisition and development and relies on extensive relationships, rigorous analysis of defined key indicators, and an emphasis on capital protection.
Altera has historically invested across property types and geographies. Altera’s primary investment strategy is to acquire value-add medical office buildings and healthcare real estate assets at a substantial discount to replacement cost.
Altera believes healthcare-related real estate assets are resilient through economic cycles and other unanticipated disruptions such as pandemics. Altera seeks to generate value-add and opportunistic returns through asset renovation and repositioning. Altera’s disciplined investment process has been refined over years of real estate acquisition and development and relies on extensive relationships, rigorous analysis of defined key indicators, and an emphasis on capital protection.
Altera has historically invested across property types and geographies. Altera’s primary investment strategy is to acquire value-add medical office buildings and healthcare real estate assets at a substantial discount to replacement cost.
Altera believes healthcare-related real estate assets are resilient through economic cycles and other unanticipated disruptions such as pandemics. Altera seeks to generate value-add and opportunistic returns through asset renovation and repositioning. Altera’s disciplined investment process has been refined over years of real estate acquisition and development and relies on extensive relationships, rigorous analysis of defined key indicators, and an emphasis on capital protection.
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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.