Gross Internal Rate of Return (IRR): 40%
Gross Return on Equity Multiple (ROE): 1.60x
Projected 5-year Gross IRR: 16.9%
Cohen Investment Group was awarded Richmond Flex Office via auction at a price per square foot below replacement cost. Built in 1985, Richmond Flex Office is a single-story flex office building located in the southwest region of Richmond, VA. It consists of ten suites and totals 37,991 square feet.
In the roughly two years of ownership, Cohen Investment Group was able to increase rents and net operating income to ultimately achieve a disposition capital event with an outstanding return to investors.
Cohen Investment Group acquired the property on November 9th, 2020 and sold it on September 27th, 2022.
Please give us a call or send us a message if you have any questions or would like to learn more about investment opportunities at CIG.