↑ Click photo to see full-size images
6121 Lakeside Drive, Reno, NV
Lakeside Plaza is a steel-framed, two story project situated in the most attractive office submarket in Reno. Control of the project was obtained in 2009 via a note purchase which was later foreclosed upon after a default. The building was in need of capital and lacked competiveness in the market due to its tired appearance. Ridge Capital created and implemented a capital investment and marketing plan to refresh the project making it attractive to users and the brokerage community. Occupancy was approximately 57% at purchase, and by 2015 the project had achieved 93% occupancy. A sale was completed with an investor at an attractive return for the Fund.
|Completed Portfolio Investment
|Acquisition and repositioning
|33,372 SF square feet
|Balboa Value Funds II, L.P. Private equity – internally managed discretionary fund