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Partnership Pays $7.3 Mil for Office Complex

REDLANDS, CA-The 93,800-sf Redlands property was repositioned by The Praedium Group, which purchased the complex in July 1998. The sale price reflects a 23% appreciation in the property's value.

By Erin Cassin | Updated on November 01, 2001

REDLANDS, CA-The Praedium Group has cashed in on one of its repositioned properties, as the real estate investment company has sold a Redlands complex for 23% more than its original value.

Praedium, which specializes in underperforming properties, purchased the flex office complex in July 1998. After acquiring the site for $5.8 million, Praedium set about repositioning it. The past three years were used to improve the rent roll and increase the cash flow of the complex, which consists of Trade Centers I & II.

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