- Highland Park Place had a reputation in the market of having an under-capitalized owner and poor management.
- Over one-third of the leases, including two full-floor tenants, were rolling in the next 24 months.
- The largest tenant, comprising approximately one-third of the building, was planning to purchase an investment property and vacate upon lease expiration.
- When Highland Park Place was purchased, it needed immediate attention. Deferred maintenance issues and renovating the common areas were at the top of the list.
- The rent roll was made up of local credit tenants at below market in-place rents.