Lavista Business Park

ATCAP acquired Lavista Business Park in November 2022 at 92% occupancy. Upon acquiring the assets, the firm anticipated leasing up the portfolio’s vacancies and marking the remaining tenants to market rates, which were experiencing rapid growth at the time.

Through responsive asset management and close coordination with our local brokerage team, ATCAP quickly signed multiple leases and expansions within the park at materially higher rates than those previously achieved within the portfolio.  While the original business plan contemplated operating the assets over a 5 year hold period, the aforementioned expansions and pre-emptive renewals presented an opportunity to market the asset for sale after 2 years, while out performing the original pro-forma returns.  The assets were disposed of in December of 2024, yielding a 29.7% internal rate of return and a 1.7x equity multiple.