- Mar 2018
- $14.3 million
- Dec 2019
- $22.75 million
The Juniper Creative Office Portfolio comprises a mix of 10 office buildings with commercial zoning. The buildings are amalgamated on a 2 acre site on the Northern side of East Cesar Chavez Street in the emerging and hip neighbourhood of East Austin.
The buildings are occupied by a variety of tenants including co-working spaces, architectural firms, start-up companies, a barber shop, fitness studios, a casting studio, a music retailer, a restaurant and brewery.
The opportunity was to acquire a mixed-use asset within the rapidly gentrifying East Austin area. The property offers a substantial upside, primarily through strategic repositioning of the asset’s tenant mix combined with capital upgrades to deliver a boutique building for small office and retail tenant.
EG has successfully delivered a return of 70% per annum (pre-fees) with the sale of 2400 E Cesar Chavez in Austin, Texas in less than 2 years.
"We are thrilled to see that our macro-view strategy and forecast growth in east-Austin has successfully outperformed the market for our investors."