Dallas is booming and is #1 in total Net Office Absorption with nearly 18 million square feet added since 2015 and is home to the third most Fortune 500 headquarters in our country. It is the fastest growing metro adding 260 new residents each day.
Our aim is to generate a 15% return net of fees with a cash flow of 9% a year to our investors paid quarterly. With the majority of the leases going through 2029, this stabile investment has upside potential as well. The two ways we seek to generate more return is by increasing the lease rates from an average of $18/sq ft to market rates which are averaging $26/sq ft and also by waiting for the primary tenant to get listed on the public stock exchange which will attract more institutional buyers. This will be Larson Capital Management's sixth building in Dallas so there will be economies of scale in managing this property that we hope to close at the end of March 2021.
Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.
This building is in due diligence and Larson Capital Management is considering ownership in both Larson Capital Fund VI and Larson Capital Real Estate Fund I.