Laurel Office Park I & III

2 Office Buildings / ±339,000 SF / Livonia, MI

Purchased the note secured by the Laurel Office Park I from Allstate in July 2010, representing a 79% discount to balance. Completed a Deed in Lieu of foreclosure and took fee ownership of the 20% occupied property in August 2010. Laurel Office Park III was purchased REO from Berkadia in December 2010. At the time of purchase LOP III was 48% occupied. Lobbies, atrium’s, cafeterias and common areas were renovated in both buildings, transforming the tired appearance into bright modern space. Current combined occupancy is 75%.