CCI-Rambler Park, LP

Location: Dallas, Texas

Why Invest? “Class A” office property built in 1981; previous owner invested $3.8M in renovations (2019) after acquiring the asset for $49.0M in 2018 (at 83% occ.), resulting in an all-in basis of $52.8M ($170/SF) CCI is acquiring the asset for a favorable $44.0M ($142/SF) at 91% occupancy, well below the prior owner's cost basis and original purchase price Acquisition price is 33% of estimated replacement cost $163.2M ($525/SF) 91.1% leased at acquisition with an NOI of ~$5.0M and cash flow after debt service of ~$2.1M Premier Location with access to North Central Expressway (I-75) (250,000 VPD) via Walnut Hill Lane The Shops at NorthPark Center and Preston Hollow Village are located within 1.5 miles of Rambler Park, offering upscale, experiential retail & dinning options Adjacent to Presbyterian Hospital, ranked 4th best in DFW – positioning the asset well for medical tenants CCI projects rents to increase by ~$10/SF over the next 3 years, driven by a lack of new office supply in the submarket1