SFO is active in defining, implementing and monitoring investment strategies in Real Estate on an international basis. SFO through Dunlop, Shohet, Cefalù (DSC) is also sourcing, proposing and executing Real Estate investment projects and assuming the role of Lead Promoter. In the last twelve months, DSC has sourced and executed the following transactions:
Atlanta Residential Portfolio LLLP
DSC set up a residential investment fund, based in Atlanta Georgia at the beginning of 2013 to take advantage of the recovery in the residential housing market in the established suburb of Buckhead and its immediate surroundings.
The pricing of residential property had declined substantially over the previous 3 years. The fund raised an initial $2.2m for the acquisition of a variety of homes, all to be rented. The portfolio includes apartments, row houses and individual family homes. The purchase criteria was strictly set, being all properties must be under 5 years old (in fact everything was purchased from the home builders), there must be a net return from rental of not less than 8% per annum, the locations must be conveniently located on well finished developments and in easy commuting distance of Buckhead and the City Center. The fund does not leverage on any of the purchases, taking a highly risk adverse investment and The fund has successfully invested the initial equity and will be having a second closing in 2014, estimated to be a Krakow Mezzanine Finance DSC invested in the development of the Enterprise Park, Krakow office development.
The development comprises three phases, totalling 34,000m2 of Class A office space. The first phase (15,000m2) was successfully completed in 2012, and is fully let to Delphi, Cisco Systems and CH2MHill. The second phase (13,000m2) was commenced in June 2013 and will be completed in July 2014. The building will be fully leased upon completion. The third phase (6,000m2) will be delivered by in early 2016. The first phase of the development will be sold in 2014, and overall the development is expected to provide a 2 times equity multiple.