Meridian Business Center

Aurora, Illinois


  • ASSET CLASS: Class A Office
  • IRR: 22.5%
  • MULTIPLE: 1.94x
  • TOTAL EQUITY: $1,000,000

Meridian Business Center is a 74,000-square-foot office building and service center, purchased in 1995 for $3,200,000 with a loan of $2,150,000. Since the purchase in 1995, all equity has been returned to the investors, and historical distributions total in excess of 100% of the initial investment. The project was subsequently refinanced in November 2014 as part of a five-building suburban Chicago portfolio. In addition to the acquisition and syndication, American Landmark Properties designed and completed a comprehensive rehabilitation of the property and subsequently managed and leased this project. The property was sold in May 2008, as part of a portfolio sale, for $3,671,500, which translated to a 1.94x equity multiple for the investors.

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