Investment – Flex Office Building in Minnetonka, MN (Minneapolis)

Flex Office Building in Minnetonka (Minneapolis, MN)

Baker Tech

254,274 square foot, five building, single-story flex office complex.
Acquired in November 2017.
74% occupied at acquisition, but only 60% occupied when excluding month-to-month tenants
Located on the I-494 corridor and Highway 62, with excellent freeway visibility near the affluent areas of Lake Minnetonka.
Business plan to renovate the property grounds, signage, and landscaping to improve property’s curb appeal, aggressively lease the remaining vacancies, and improve tenant retention.

Investment Highlights

Sold property December 2020.
Financed with a senior loan that included funding for leasing costs and prepayment flexibility to allow for multiple exit scenarios.
Implemented a $0.5mm capital improvement program to upgrade landscaping, outdoor amenities, and signage to re-brand the property fuel leasing velocity.
Within months of acquisition, signed over 31,000 square feet of new leases and renewals and increased occupancy to 71%.

Press

Brass Foundry Brewing shifts from downtown Minneapolis to business park in Minnetonka

Property Type:Flex Office Building
Property Location:Minnetonka, MN
Size:254,274 square foot
Acquired:November 2017
Realized:December 2020

Investment made through an affiliate of Tryperion Holdings, LLC. All information as of 10/24/2022.

SW Manager, LLC (“Manager”) is a wholly-owned subsidiary of and controlled by Tryperion Holdings, LLC (our “Sponsor”). Manager is the external manager and advisor of 1st Streit Office Inc. (“1st Streit Office”) and 1st Streit Office Operating Partnership LP (our “Operating Partnership” and, together with 1st Streit Office, “Our Current Offering”). 1st Streit Office is the sole general partner of our Operating Partnership, through which all of our assets will be owned and substantially all of our operations will be conducted. All references herein to “Streitwise” refer, as applicable, to Manager, 1st Streit Office, the Operating Partnership, or any of their affiliates (collectively, the “Streitwise Entities”). Unless explicitly stated to the contrary, all references to “we,” “us,” and/or “our” shall refer to the Streitwise Entities. By using Streitwise, you accept our Terms of Service and Privacy Policy.

An offering statement regarding this offering has been filed with the SEC. This offering is structured as a non-traded real estate investment trust, or “REIT,” under Regulation A+ of the JOBS Act. The SEC has qualified that offering statement which only means that Streitwise may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You should read the Offering Circular before making any investment which is available here: streitwise.com/oc

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Performance: Past performance is not a guarantee of future results. All historical returns, target returns, or hypothetical projections may not reflect actual future performance.
Risk: This investment involves a certain level of risk and may result in partial or total loss. We cannot guarantee that we will reach our target return for our investors.
Tax: Prospective investors should confer with their tax advisors regarding the tax consequences based on their particular circumstances. Neither Streitwise nor any Solicitor assumes responsibility for the tax consequences for any investor.
Liquidity: Investments in private placements are highly illiquid and those investors who cannot hold an investment for the long term should not invest. See Stockholder Redemption Plan in the OC.

¹ Dividends & returns: Current annualized dividend based on the most recent dividend declaration as of the quarter ending 9/30/2024. Dividend return calculations based on NAV at the time of dividend return. 3Q24 dividend payout of $0.13/share equates to a 7.2% dividend based on the current NAV. The REIT has averaged a 7.2% annualized dividend yield since 2020 and a 8.3% annualized dividend yield since 2017 based on the average NAV for the respective periods. See Quarterly Report for all returns history.
² Source: FTSE NAREIT All Equity REITs vs S&P 500.
³Sponsor Performance: Related to investments by Sponsor, Tryperion Holdings, as part of one of its prior programs, and not of any of the Streitwise Entities. Reflects gross IRR on realized investments in the Sponsor’s investment portfolio since inception. Sponsor performance data as of 4Q23.
⁴Target returns: We will seek to invest in real properties and other real estate-related assets that we believe can produce a strong return through a combination of cash flow and appreciation. We cannot guarantee that we will reach this target return for our investors.

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