Washington, Pennsylvania

Property type:

mixed uses

Profitable area:

130,926 SQ FT

Year of acquisition:

2021

The property was acquired at a significant discount as its occupancy rate was only 55%, although generating cash flows (positive NOI). The property was poorly managed; so the focus is to add value though operational improvements: costs were reduced, amenities were improved, and some vacant spaces were leased. Net operating income is expected to increase by 30% after the first year of operation.