Acron: New fund invests in Oklahoma
With the private placement Acron Triad I Limited Partnership, Acron GmbH offers shareholding in a Class A office property in Tulsa, the second largest city in the US state of Oklahoma.
The fund property was built in 1982 and has a total usable area of just under 13,000 m², plus 555 parking spaces. The six-story office building is located in the Memorial corridor's office district with direct access to Highway 169. The city's largest shopping center is in the immediate vicinity. The property is up to around 90% rented to 15 tenants. Main tenants are the consultancy Convergys Customer Management Group and the insurance firm Progressive Casualty Insurance.
Fund's Key Data:
Total investment volume amounts to US$19.5mn
The minimum stake is US$1mn. A premium won't be calculated.
Initial yield is forecasted at 7.5% and, from 2013, to increase to 8%.
Fiscal noteworthiness: Due to the high share of “American Indians� in Oklahoma's population, two-thirds of the territory profits from special tax advantages, as does the city of Tulsa and the investment property of the fund. The so-called Indian markdown also yields very high investment amounts to a comparatively low taxable income. As a result, it produces high after-tax yields for the investor and, on top of that, in the US to settle for losses.