Passed - Call with Mike Vu. He was not excited about the ratio of the presale at $10M versus the cost to develop the property at $35M. He thinks there is a lot of leasing risk as to the remainder of the medical office and retail. In general, they are not very bullish on development except for industrial and self storage. Their equity check range is $8M - $35M and they target mid to high teens levered IRRs with a 5 year target hold period. -- duke
12/04/2014
Artemis Real Estate Partners
12-3-14 - Left voicemail for Mike Vu (LB ,DA, DF) -- duke