Five Points Business Center was purchased in Spring 2008. The 45,960 square foot split face block building, is located in Atlanta’s northwest industrial corridor. At the time of purchase, the property was leased to a variety of small tenants in addition to Medical Specialties who occupied 50% of the building. Medical Specialties lease which expired in June 2008 was not renewed and their space was sub-divided into smaller suites of 3,500 – 7,000 square feet. AIP’s strategy was to maximize the value and increase the return of the property through achieving significantly higher rental rates for the smaller units than Medical Specialties was paying for the larger space. Based on AIP’s initial assumptions the property’s cash on cash performance will exceed 25%.

Before Renovation