ABOUT THE PROPERTY
ZKS and Carlyle entered into a forward purchase contract to
acquire Scott Creek Business Park from Opus West upon completion. The
project was 7% leased at the time of acquisition, with the remainder
vacant and in shell condition. ZKS leased the project to 100% occupancy
and sold it for $46.3 million, generating a realized IRR of 30%.
INVESTMENT DATA
Capital Partner The Carlyle Group
Purchased From Opus West
Sold to RREEF/CALPERS
Date Purchased December 1998
Date Sold October 2000
Purchase Price $25,200,000 ($84 psf)
PROPERTY DESCRIPTION
Location Fremont, CA
Property Type Office Flex/R&D
Property Description Five 1-story buildings
Rentable Square Feet 300,292
Year Built 1998