This fund was launched in mid 2017 and remained open to investors through January 15, 2019 and is intended to purchase large Class A office buildings that have financially stable tenants. This fund was the largest to date with $26,230,000 of investor dollars buying just over $100MM worth of buildings in the St. Louis metropolitan area. This fund is designed to capitalize on the new tax reform by doing cost segregation depreciation and finding properties that have strong and consistent distributions to investors. There are over 900,000 square feet in this fund and our aim is to hold these buildings for 5-7 years.
With a broad base of renters ranging from Spectrum Brands, Express Scripts, Edward Jones, Stifel, the US government, and many more highly profitable businesses, we believe that this fund will allow us to have many potential buyers when plan to sell these assets. The primary value is driven from managing the properties well, garnering substantial tax deductions for our investors through depreciation and exiting from the property in a competitive market to institutional buyers.